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Excellent research from McKinsey about the current electric scooter and micromobility market gave some new exciting insights into the world of micromobility and how it has developed over the pandemic and changes in climate/city policies.
According to the report, the share of micromobility investment in Europe in 2018-19 was 12% of the global investments. Now in 2020-22 it has jumped to a whopping 49% leaving behind the USA with 42% and Asia with just a 10% share.
This is very interesting news but as followers of this blog might have noticed the big cities in Europe are going through a big change. The UK is making private electric scooters legal and one of the drivers has been reducing pollution in London. The city is somewhat infamous for its congestion fees and tough traffic for cars, not to mention there are also Ultra-Low emission zones and other ways that are all aimed to make the city a cleaner place to live.
In another European city Paris, the whole city has gone through a shift to bicycle lanes from the domination of cars. This has also increased the amount of electric scooter traffic considerably, the reason there was to reclaim the city from cars that dominated the streets and the local populace is loving it. Not only did it let people use bikes safely and enjoy their city in a new way it also decreased the pollution and brought the same benefits as it did in London.
From a business perspective, the local investors have clearly seen that the political and population’s will has turned to micromobility, and hence investing in that area has increased at the same speed as the cities have changed.
Another interesting find is that even though many European cities are famous for their bikes the real winner of micromobility hasn’t been Electric Bikes but E-Scooters (kick scooter models).
Perhaps due to the fact that electric scooter fleets are relatively easier to manage and the size is more transportable, the investors are going for this mode of transport. Anyone knows some electric scooter sharing companies in their city but many places don’t have any shared e-bike services.
In 2018-19 number one spot was held by e-bikes with 59% of the market share whereas e-scooters had just about 39% leaving mopes far behind at 1%.
In 2020-22 e-scooters have taken over completely taking 89% of the market share. E-Bikes have 9% and mopeds have increased to 3%
This is a huge shift. Looking at these figures it’s pretty clear that electric scooters have emerged as winners of the micromobility shift. They clearly offer many benefits be it shared or privately owned. Most of the needs of commuters can be fulfilled by electric scooters and there’s no need to have a full-fledged e-bike. Actually, for city dwellers, the compact size and possibility of easy storage are important points that make the choice of escooter a no brainers
Join Langfeite in the micromobility revolution and contact us today for a quotation!