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Global micromobility market to be worth $340 billion by 2030

56 days ago

2 minutes

Source: ZAG Daily

According to a recent report by McKinsey, the global micromobility market is projected to grow to $340 billion by 2030, a significant increase from approximately $160 billion in 2022. Europe is expected to contribute the largest portion of this value, with an estimated $140 billion by 2030, up from $60 billion in 2022.

Kersten Heineke, Co-Leader for Future Mobility at McKinsey Center, emphasized “We believe that regulation is the key market driver for micromobility, next to macroeconomic developments such as population and GDP, consumer behaviour and new emerging technologies,”

Almost 60% of metropolises in the EU and US support micromobility through different forms of investment schemes, infrastructure projects or urban vehicle access restrictions. Within these, we have particularly seen European cities and countries as frontrunners, which in turn is driving the market development.

The surge in market value is primarily fueled by the increasing popularity of e-bikes, which offer a wider range of applications compared to e-scooters, including cargo transport, and boast a better total cost of ownership than e-mopeds. Government subsidies targeting e-bicycles and growing interest from employers, particularly in Germany, are further accelerating this trend.

Heineke added, “Additionally, we currently see government subsidies specifically targeting e-bicycles, and also employers increasingly see the electric bicycle as a good alternative to the car when it comes to corporate leasing schemes, particularly in Germany.”

McKinsey plans to provide an updated assessment of market size at the upcoming Micromobility Industries conference in June.

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