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Based on propulsion, the pedal assist micro-mobility market is set to foresee significant growth between 2023 and 2032. Pedal-assist bicycles offer efficient and sustainable transportation option for short-distance commuting and recreational activities due to their combination of manual pedaling and electric motor assistance. Additionally, the increasing focus on environmental conservation and physical well-being is amplifying the demand for pedal-assist bicycles, further fostering their integration into urban mobility solutions.
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Industry Insights • Micro-mobility Market is projected to cross USD 231.1 Million by 2032. The rising demand for sustainable transportation solutions is spurring multiple authorities and municipalities to invest heavily in enhancing urban infrastructure to accommodate and promote the adoption of micro-mobility services. With the increasing need for efficient solutions, new entrants are funding the development of innovative micro-mobility vehicles and services to capitalize on the expanding market opportunities, adding impetus to the industry growth. For instance, in September 2022, Magna, entered the rapidly developing micro-mobility sector by investing $77 million in Yulu, India's largest electric shared mobility provider.
Based on propulsion, the pedal assist micro-mobility market is set to foresee significant growth between 2023 and 2032. Pedal-assist bicycles offer efficient and sustainable transportation option for short-distance commuting and recreational activities due to their combination of manual pedaling and electric motor assistance. Additionally, the increasing focus on environmental conservation and physical well-being is amplifying the demand for pedal-assist bicycles, further fostering their integration into urban mobility solutions. • Micro-mobility market from the hoverboard type segment is projected to witness optimum demand between 2023 and 2032 driven by the surging preference for last-mile connectivity solutions and the higher emphasis on eco-conscious commuting in urban environments. Hoverboards have gained popularity as convenient and trendy personal transportation options due to their compact size, ease of use, and eco-friendly electric propulsion.
Regional Analysis Europe micro-mobility industry is poised to record robust growth between 2023 and 2032 attributed to the increasing focus on sustainable transportation solutions and urban mobility initiatives. Furthermore, with the increasing emphasis on sustainable transportation solutions, several regional market players are strategically investing in the development of diverse micro-mobility services, including e-scooters, bicycles, and electric mopeds. The growing partnerships with local governments and transportation authorities for enhancing accessibility and promoting the adoption of micro-mobility options will also add to the industry growth. For instance, in August 2022, Voi, launched its operations in Europe's 100th city, for providing residents and tourists with sustainable means of urban transportation. • Competitive Analysis • Jetson, Go Trax, Gyroor, FOCUS BIKES GMBH, Brompton Bicycle Ltd., Giant Bicycles, Halo Board, Yamaha Motors, and Micro Mobility Systems AG
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