Electric Scooters, Bikes, and Motorcycles

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Electric Scooters, Bikes, and Motorcycles

Accounting for 85% of the North American market, the e-scooter and e-motorcycle market in the United States is valued at \$216.93 million in 2020. The key players in the e-scooters, e-motorcycles, and e-bikes market are Lime, Bird, Skip Scooters, Spin, and Scoot Networks.

Micromobility Market Size

• Micromobility is "a mode of transportation that uses very light vehicles, including electric scooters, shared bicycles, pedelec, electric skateboard," and bicycles. By power source, the market's segmentation includes man-powered, fuel-powered, HEV, PHEV, and BEV.
• By 2030, the micromobility market in the United States will be worth between \$200 billion and \$300 billion.
• Thus, the average market size is \$250 billion (=(200+300)/2).
• The global micromobility market will grow at a CAGR of 24.7% during the forecast period between 2018 and 2025.
• The United States accounts for the largest micromobility market in the world.
• As there is no CAGR specific to the United States in the public domain, we assumed that the United States micromobility market is growing at the same global CAGR since the United States represents the largest market share.
• Calculation:
• CAGR = 24.7% = 0.247
• Ending value: 2030 market size = 250,000,000,000
• Beginning value: 2020 market size = x
• Number of years from 2020 to 2030: 10 years
• CAGR is calculated using the following formula: CAGR = ((ending value/beginning value)^(1/# of years)) -1
• 0.247 = ((250,000,000,000/x)^(1/10))-1
• Then, x = 250,000,000,000/(1.247^10) = 27,496,377,009
• Thus, the market size of micromobility in the United States is \$27.5 billion.

E-scooter and E-motorcycles Market Size

• The 2025 global e-scooter market size will grow at a CAGR of 7.3%, reaching \$28.56 billion by 2025.
• In 2018, the market size of the e-scooter and e-motorcycle market in North American was valued at \$154.8 million, growing at a CAGR of 28.4% between 2019 and 2024 to reach \$675.7 million by 2024.
• The United States accounts for 85% of the North American e-scooter and e-motorcycle market.
• Calculation:
• In 2020, we calculated the estimated market size of e-scooter and e-motorcycle in North America using this calculator, as follows:
• Starting value: 2018 market size: 154,800,000
• CAGR: 28.4%
• Number of years from 2018 to 2020: 2 years
• Result: 255,210,000
• Thus, the 2020 market size of micromobility in North America is \$255.21 million.
• The United States represents 85% of the market in North America, accounting for \$216.93 million in 2020 (=255.21x0.85).

Sales of E-scooters, E-motorcycles, and E-bikes: The United States

• The global e-micromobility fleet is expected to increase from 146.9 million units in 2018 to reach 1.1 billion units in 2028.
• In 2015, 4,934 e-scooters were sold in the United States. This number is estimated to reach 21,756 units by 2024. (Screenshot here)
• About 2,021 e-motorcycles were sold in the United States in 2015. By 2024, it is estimated that the sales will reach 37,667 units. (Screenshot here)
• Similarly, the number of e-bikes sold in the United States will increase from 172,516 units to 278,974 units. (Screenshot here)

E-SCOOTERS, E-MOTORCYCLES, AND EBIKES: KEY PLAYERS

• According to a report from Base10, 14 e-scooter companies all over the world raised the largest amounts of funding. The key players in terms of funding raised are Lime, Bird, Grin & Yellow, Vogo, Flash, Voi Technology, Skip, Tier Mobility, Dott, Wind Mobility, Spin, Beam, Scoot, and Pop Scoot. Among these key players, only five companies are operating in the United States. Thus, we defined key players as follows: a key player is a global company that is one of the top companies (in terms of funding raised) and operates in the United States, among other regions. By applying this criterion, the key players are Lime, Bird, Skip, Spin, and Scoot.
• "Uber and Lyft are themselves getting into the electric scooter game." Lyft acquired Motivate, a bike-share company. Meanwhile, Uber acquired Jump Bikes, an e-bike rental service. Also, Ford acquired Spin Scooters.
• However, these companies are privately-held and don't share their data, specifically related to the number of e-scooters, e-bikes, and e-motorcycles in operation.

Lime

• Lime is a smart mobility company. Its fleet ranges from the e-scooter to the e-assist and pedal bike.
• The company is privately-held.
• With a total of 20 countries, Lime operates in the United States, Mexico, South America, and Europe.
• The company has a "fleet of 120,000 scooters seeing an average life of five months."
• In August 2019, the company reported having 120k bikes.
• Annual revenue: \$420 million
• Valuation: \$2.4 billion
• Total funding raised: \$765 million

Sources
Sources