Global Shared Micromobility Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Shared Micromobility Market is expected to record a CAGR of 11.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,018.5 Million. By 2033, the valuation is anticipated to reach USD 5,247.7 Million.

The shared micromobility market encompasses the provision of short-term rental services for lightweight, human-powered, or electric vehicles, including bicycles, electric scooters, and electric skateboards, typically accessed through smartphone applications.

These services facilitate convenient and affordable transportation options for short-distance urban trips, offering an alternative to traditional modes of transportation like private cars or public transit. With a focus on sustainability, accessibility, and flexibility, shared micromobility solutions address urban mobility challenges, reduce traffic congestion, and contribute to environmental conservation efforts by promoting the use of eco-friendly vehicles for urban transportation needs.

Shared Micromobility Market – Significant Growth Factors

The Shared Micromobility Market presents significant growth opportunities due to several factors:

• Urbanization and Congestion: Rapid urbanization and increasing congestion in cities drive the demand for shared micromobility solutions as an efficient and sustainable mode of transportation, offering an alternative to traditional vehicles and alleviating traffic congestion.

• Environmental Awareness: Growing concerns about climate change and pollution contribute to the adoption of shared micromobility, as it promotes eco-friendly transportation options, reduces greenhouse gas emissions, and supports sustainability goals.

• Technological Advancements: Advances in technology, such as GPS tracking, mobile apps, and battery technology, enhance the accessibility, convenience, and user experience of shared micromobility services, driving adoption among urban commuters.

• Regulatory Support: Supportive regulatory frameworks and policies from governments and municipalities encourage the growth of the shared micromobility market by providing guidelines for operations, infrastructure development, and safety standards, fostering market expansion and innovation.

• Expansion into New Markets: There is an opportunity for shared micromobility providers to expand into new geographic markets, both domestically and internationally, tapping into areas with high population density, limited public transportation options, and growing demand for alternative mobility solutions.

• Integration with Public Transit: Collaborating with public transit agencies to integrate shared micromobility services with existing transportation networks presents an opportunity to enhance connectivity, accessibility, and convenience for urban commuters, providing seamless multimodal transportation options and improving overall urban mobility.

Shared Micromobility Market – Mergers and Acquisitions

The Shared Micromobility Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Shared Micromobility Market include:

• In 2022, Lyft, Inc. acquired PBSC Urban Solutions, a leading provider of bikeshare equipment and technology. With PBSC’s extensive deployment of stations and bikes across multiple markets and countries, Lyft aims to broaden its mobility services and offer enhanced experiences to riders in major cities.

• In 2022, Lime has partnered with Aspiration to introduce a “sustainability as a service” platform, enabling riders to combat climate change effortlessly. Through this collaboration, Lime contributes to decarbonization by funding tree planting initiatives, with one tree planted for each ride taken.

• In 2022, Bird Global, Inc. entered a joint venture agreement with Madrid Municipal Transport Company (EMT) for a bike sharing integration program. This partnership aims to enhance urban mobility in Madrid by integrating Bird’s bike sharing services with the city’s transportation network.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Shared Micromobility Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Shared Micromobility Market – Significant Threats

The Shared Micromobility Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Regulatory Uncertainty: Evolving regulatory frameworks and inconsistent policies regarding shared micromobility operations pose a threat to market stability. Uncertain regulations regarding vehicle licensing, parking, and safety standards can hinder market expansion and increase operational costs for providers.

• Safety Concerns: Safety risks associated with shared micromobility, including accidents, collisions, and injuries to riders and pedestrians, undermine consumer confidence and pose a threat to market growth. Negative publicity resulting from safety incidents can lead to decreased ridership and regulatory scrutiny.

• Vandalism and Theft: Instances of vandalism, theft, and misuse of shared micromobility vehicles can result in significant financial losses for operators. Damaged or stolen vehicles disrupt service availability, increase operational expenses for repairs and replacements, and erode investor confidence in the viability of shared micromobility businesses.

• Competition from Ride-Hailing Services: Intense competition from ride-hailing services, such as Uber and Lyft, poses a threat to the shared micromobility market. Ride-hailing offers door-to-door convenience without the physical exertion or weather exposure associated with micromobility, potentially diverting riders away from shared micromobility options.

• Seasonal and Weather-Related Challenges: Shared micromobility services may experience reduced demand and operational challenges during inclement weather conditions, such as rain, snow, or extreme temperatures. Seasonal fluctuations in ridership and revenue can impact profitability and sustainability, requiring operators to implement adaptive strategies to mitigate weather-related risks and maintain service continuity.

Category-Wise Insights:

By Vehicle Type

• Bicycles: In the shared micromobility market, bicycles offer users a pedal-powered transportation option for short-distance urban trips. Trends include the integration of electric bicycles (e-bikes), offering pedal-assist or full electric propulsion, to enhance rider experience and accessibility. Additionally, advancements in bicycle-sharing technology enable seamless rental transactions via smartphone apps, fostering the growth of bike-sharing systems in cities worldwide.

• Scooters: Shared electric scooters provide users with a convenient and eco-friendly mode of transportation for urban commuting. Trends in the shared micromobility market include the rapid expansion of e-scooter sharing programs in urban areas, driven by increasing demand for flexible and affordable mobility solutions. Integration of electric scooters into existing transportation networks and advancements in battery technology contribute to market growth and accessibility.

• Skateboards: Shared electric skateboards offer users an innovative and compact transportation option, particularly suitable for short-distance urban travel. Trends in the shared micromobility market include the emergence of electric skateboard-sharing services, catering to urban commuters seeking alternative modes of transportation. Integration of electric skateboards with smartphone apps for rental and navigation enhances user experience and fosters adoption among tech-savvy urban dwellers.

By Trip Purpose

• Commute: Shared micromobility for commuting involves using short-term rental vehicles like electric scooters or bicycles for daily travel between home and work or educational institutions. Increasing urbanization and traffic congestion drive the demand for convenient and eco-friendly commuting options. Trends include the integration of shared micromobility with public transit systems, offering commuters seamless multimodal journeys, and the adoption of subscription-based models for regular commuters, providing cost-effective transportation solutions.

• Last-Mile Connectivity: Shared micromobility for last-mile connectivity focuses on providing convenient transportation solutions for short-distance trips between transit hubs and final destinations. This segment addresses the challenge of bridging the gap between public transportation and commuters’ ultimate destinations. Trends include the deployment of dockless electric scooters and bicycles near transit stops, enabling commuters to complete their journeys quickly and affordably, reducing reliance on personal vehicles and enhancing urban mobility.

• Leisure & Recreation: Shared micromobility for leisure and recreation caters to individuals seeking eco-friendly and accessible transportation options for sightseeing, exploring urban areas, or engaging in recreational activities. This segment encompasses rental services for electric bikes, scooters, and other lightweight vehicles, offering tourists and locals alike a fun and convenient way to explore cities and enjoy outdoor recreational pursuits. Trends include the expansion of guided tour offerings and partnerships with tourist attractions to enhance the leisure experience for users.

By Sharing Type

• Docked Sharing: Docked sharing refers to a system where micromobility vehicles are parked and rented from designated docking stations. This method ensures organized parking and charging infrastructure, enhancing user convenience and vehicle availability. Recent trends in docked sharing include the integration of smart docking stations with mobile apps for seamless rental experiences, as well as the expansion of docked systems to suburban areas to improve accessibility and coverage.

• Dock-Less Sharing: Dock-less sharing allows users to locate, rent, and return micromobility vehicles anywhere within a designated operating area using smartphone apps. This flexible approach offers convenience and freedom, eliminating the need for fixed docking stations. Trends in dock-less sharing include the deployment of geofencing technology to regulate parking and reduce clutter, as well as the introduction of swappable batteries for electric vehicles to enhance operational efficiency and range.

By Data Service

• Navigation: In the shared micromobility market, navigation data services provide real-time route guidance and mapping functionalities to users, ensuring efficient and safe travel. Trends include integration with mobile applications, offering turn-by-turn directions and information on bike lanes and transit routes. Additionally, advancements in GPS technology enable enhanced accuracy and reliability in navigation services, improving the overall user experience and promoting widespread adoption of shared micromobility solutions.

• Payment: Payment data services facilitate seamless and secure transactions for shared micromobility rentals. Trends include the adoption of mobile payment platforms and contactless payment methods, enabling users to easily unlock vehicles and pay for rides using smartphones or NFC-enabled cards. Moreover, subscription-based models and loyalty programs offer incentives to frequent users, driving customer retention and increasing revenue streams for shared micromobility operators.

• Others: In the shared micromobility market, other data services encompass a range of offerings such as vehicle tracking, maintenance scheduling, and user analytics. Trends include the implementation of IoT sensors for fleet management, predictive maintenance algorithms for vehicle upkeep, and data-driven insights for business optimization. These data services enhance operational efficiency, improve service reliability, and enable informed decision-making, contributing to the growth and sustainability of shared micromobility systems.

By Propulsion

• Up to 25 KM: Shared micromobility for distances up to 25 kilometres typically involves electric bicycles and scooters. These vehicles offer convenient, eco-friendly transportation options for short-distance urban trips. Trends include the integration of lightweight and compact electric vehicles with swappable batteries, allowing for extended range and seamless user experiences, driving adoption among urban commuters for daily commuting and leisure activities.

• 25 to 45 KM: For distances between 25 to 45 kilometres, shared micromobility options often include electric bicycles and scooters with enhanced battery capacities and performance capabilities. Trends in this segment focus on the development of long-range electric vehicles with advanced battery technology, efficient charging infrastructure, and integrated navigation systems to support longer commutes and recreational journeys, catering to the needs of urban commuters and leisure travelers alike.

Report Scope

Shared Micromobility Market – Regional Analysis

The Shared Micromobility Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America, a trend shaping the shared micromobility market is the emphasis on regulatory compliance and safety standards. With increased scrutiny from local authorities, operators are investing in robust safety measures, including helmet provisions, rider education campaigns, and geofencing technologies to regulate vehicle usage in designated areas.

• Europe: In Europe, the trend revolves around the integration of shared micromobility with public transportation systems. Operators are forging partnerships with transit agencies to provide seamless first- and last-mile connectivity, with initiatives such as integrated fare systems, interoperable payment solutions, and designated micromobility hubs at transit nodes.

• Asia-Pacific: In the Asia-Pacific region, a key trend is the adoption of innovative vehicle designs tailored to local preferences and urban environments. Operators are introducing compact, lightweight electric vehicles optimized for dense urban areas, with features such as foldable frames, swappable batteries, and enhanced durability to withstand challenging terrain and climatic conditions.

• Latin America, Middle East, and Africa (LAMEA): In LAMEA, the trend centers on affordability and accessibility, with operators focusing on pricing strategies and service expansion in underserved communities. Initiatives such as discounted fare options, flexible payment plans, and outreach programs targeting low-income neighborhoods aim to democratize access to shared micromobility and address socioeconomic disparities in urban mobility.

Competitive Landscape – Shared Micromobility Market

The Shared Micromobility Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• Lime
• Bird
• Lyft
• Uber (Jump)
• Spin
• Bolt (formerly Taxify)
• Mobike
• Citi Bike (Motivate)
• Ofo
• Voi Technology
• Tier Mobility
• Dott
• Zagster
• Wheels
• Helbiz
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New entrants like Wheels and Helbiz have embraced innovation in the shared micromobility market. Wheels introduced swappable batteries for electric bikes, enhancing vehicle uptime and operational efficiency. Helbiz implemented blockchain technology for transparent and secure transactions, ensuring user trust and data privacy.

Dominating the market are established players such as Lime and Bird, leveraging extensive fleets and robust operational networks. Lime’s strategic partnerships with cities and universities ensure widespread availability, while Bird’s focus on user-friendly app interfaces and vehicle maintenance ensures a seamless experience, cementing their market dominance.

The Shared Micromobility Market is segmented as follows:

By Vehicle Type

• Bicycles:
  • Traditional Pedal Bicycles
  • Electric Bicycles (e-bikes)
• Scooters:
  • Electric Scooters (e-scooters)
• Skateboards:
  • Electric Skateboards

By Trip Purpose

• Commute:
  • Work/School Commute
• Last-Mile Connectivity:
  • Transit Hub Connectivity
• Leisure and Recreation:
  • Sightseeing/Exploring

By Sharing Type

• Docked
• Dock-Less

By Data Service

• Navigation
• Payment
• Others

By Propulsion

• Up to 25 KM
• 25 to 45 KM

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America