Micromobility Market: Unpacking Trends by Propulsion, Vehicle Types, Sharing, and Ownership

What Are the Emerging Trends in Vehicle Propulsion?

One key area of focus in the micromobility market is the type of propulsion used by various vehicles. Notably, electrically powered vehicles have garnered extensive interest owing to their zero-emission nature and energy efficiency. The growing demand for sustainable, emission-free modes of transport has brought electric scooters, electric bikes, and electric skateboards to the fore.

How Do Vehicle Types and Ownership Models Influence the Market?

The type and category of micromobile vehicles are significant determinants of market trends. Bikes, scooters, and skateboards are widely used for short-distance travel in urban areas. Furthermore, the market exhibits a clear trend towards shared micromobility, necessitated by increasing urban congestion and the escalating need for feasible alternatives to traditional public transport. However, the ownership model still remains relevant for individuals who often favor owning personalized, often premium, micromobility vehicles.

How Has the Concept of Sharing Transformed the Micromobility Space?

Sharing has revolutionized the micromobility market, primarily driven by advancements in technology and the ubiquity of smartphone applications. The sharing economy has opened up new opportunities for companies to offer shared fleets of bikes, scooters, and other small electric vehicles. This is increasingly attractive owing to its cost-effectiveness and flexibility, particularly in urban settings, and this trend is expected to continue to significantly influence market dynamics.