Global Micromobility Rentals Market Overview:
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.
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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
Occurrence of Theft and Vandalism
Lack of Supporting Infrastructure for Micromobility
Growing Traffic Congestion on Roads and Adoption of Electrically Powered Vehicles
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.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Yulu (India), Spinlister (Netherlands), Muving Valencia (Spain), Mobycy (India), Onn Bikes (India), Yego (Spain) and Blinkee.City (Poland). Considering Market by Propulsion, the sub-segment i.e. Gasoline will boost the Micromobility Rentals market. Considering Market by Operational Mode, the sub-segment i.e. Dockless will boost the Micromobility Rentals market. Considering Market by Service, the sub-segment i.e. Pay as You Go will boost the Micromobility Rentals market.
Latest Market Insights:
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.
What Can be Explored with the Micromobility Rentals Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Micromobility Rentals Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Micromobility Rentals
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Micromobility Rentals market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Micromobility Rentals market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Micromobility Rentals Providers, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.