July 1, 2024 - Mainly driven by e-bike sales, McKinsey & Company estimates that the global micromobility market will reach about $360 billion by 2030, up from about $175 billion in 2022 with Europe representing the highest share.
In a recent McKinsey ACES Consumer Survey 40% of respondents now use multiple mobility modes, including eco-friendly options such as e-bikes, and 62% are beginning to change their transportation habits because of sustainability concerns. Almost one-third of respondents say they plan to increase their use of micromobility and nearly half are planning to replace their private vehicles with other modes of transport.
The McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by 27% annually from 2022 to 2030, to a market size of about 4,700 gigawatt-hours (GWh), worth over $400 billion.
Yet according to the report funding to finance initiatives was down by 44% in the first quarter of 2023, compared with the same period last year, and 13% lower in the second quarter. More positive momentum in late 2023 is expected to continue in 2024.
Read the full report here.
