About Micromobility Rentals
Micromobility is the term for short-distance travel, often under five miles. It is being used as a colloquialism for the expanding number of bike- and scooter-sharing businesses that are poised to transform the urban environment. Most journeys people make nowadays fall into the category of micromobility due to increased urbanisation, making bikes and scooters ideal transportation options. About 60% of all journeys made in the US are 5 miles or less. The business opportunity also keeps expanding as consumers profit from this escalating tendency. Since 2017, investors have invested USD 14 billion worldwide in firms that focus on micromobility.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Global Micromobility Rentals is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lime (United States), eCooltra (Spain), Lyft (United States), Skip (Australia), COUP (United States), Nextbike (Germany), Cityscoot (France), Bird (United States), Mobike (China), Spin (United States), Bolt (Estonia) and Hopr (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Yulu (India), Spinlister (Netherlands), Muving Valencia (Spain), Mobycy (India), Onn Bikes (India), Yego (Spain) and Blinkee.City (Poland).
Segmentation Overview
AMA Research has segmented the market of Global Micromobility Rentals market by Type (Bike, Scooter and Others) and Region.
On the basis of geography, the market of Micromobility Rentals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Propulsion, the sub-segment i.e. Gasoline will boost the Micromobility Rentals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operational Mode, the sub-segment i.e. Dockless will boost the Micromobility Rentals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Pay as You Go will boost the Micromobility Rentals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for User Flexibility and Expansion of Geographic Location and Designated Parking Stations and Addressable of First and Last Mile Problem
Market Growth Drivers:
Rise of Micromobility as a Budget-Friendly Mode of Transportation and Sustainable and Technologically Advanced Mobility
Challenges:
Occurrence of Theft and Vandalism
Restraints:
Lack of Supporting Infrastructure for Micromobility
Opportunities:
Growing Traffic Congestion on Roads and Adoption of Electrically Powered Vehicles
Market Leaders and their expansionary development strategies
In April 2022, Lyft has signed an agreement to acquire PBSC Urban Solutions, a Canadian supplier for bikeshare equipment and technology, in a move that will double its scale in micromobility.
In August 2022, Rental car giant Hertz announced their new partnership with Polestar to buy up to 65,000 electric vehicles over the next five years. Now, Polestar 2 EVs are available for Australians to rent through Hertz across many parts of the country.
Key Target Audience
Micromobility Rentals Providers, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.