SCOOTER RENTAL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In April 2024, Lime, a leading global provider of electric scooter and bike rentals backed by Uber Technologies Inc., announced plans to invest US$ 55 million to expand its existing fleet. This investment aims to enhance the availability of its eco-friendly transportation options, further promoting sustainable urban mobility.
• In January 2024, leading European e-scooter rental companies, TIER Mobility and Dott, announced their plans to merge, creating the largest micro-mobility operator on the continent. The combined entity, to be known as TIER-Dott, will be backed by an additional US$ 66 million investment from existing investors, including Mubadala Capital and Sofina, as well as new investors M&G, Prosus Ventures, Novator, Estari, and White Star Capital.
• In March 2022, TIER Mobility, a prominent European micromobility provider, acquired Spin, a shared electric bike and scooter operator previously owned by Ford. This acquisition expanded TIER's reach to an additional 106 communities across North America, solidifying its position as a leader in the global micromobility market. With this move, TIER now operates in over 520 cities worldwide, boasting a fleet of 300,000 vehicles.
• In February 2022, Moto Business Service India (MBSI), a subsidiary of Yamaha Motors focused on shared mobility solutions, made a strategic investment in Royal Brothers, a bike rental company. This partnership is based on a revenue-sharing model and marks MBSI's first collaboration as it aims to expand its presence in the shared mobility sector. MBSI also plans to work with other new market entrants in the future to enhance its offerings.