Personal Mobility Devices Market Size

Market Outlook:

Personal Mobility Devices Market exceeded USD 11.46 Billion in 2023 and is predicted to cross USD 20.89 Billion by end of the year 2032, witnessing more than 6.9% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 11.46 Billion
• CAGR (2024-2032): 6.9%
• Forecast Year Value (2032): USD 20.89 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing demand for efficient and convenient transportation solutions is a major growth driver for the personal mobility devices market. With rising urbanization and traffic congestion, people are opting for compact and portable devices such as electric scooters and bicycles for their daily commute. This trend is expected to drive the market growth in the coming years.

Additionally, a major contributor to the growth of the personal mobility devices market is the growing emphasis on sustainable transportation solutions. Consumers are becoming more environmentally conscious and are looking for eco-friendly alternatives to traditional modes of transportation. This is fueling the demand for electric and hybrid mobility devices, providing a significant opportunity for market players to capitalize on.

The technological advancements in the personal mobility devices sector are also driving the market growth. Innovative features such as GPS tracking, smartphone connectivity, and AI-powered navigation systems are making these devices more user-friendly and attractive to consumers. The integration of smart technologies is expected to enhance the overall user experience and further boost the market growth.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Product
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Invacare, Pride Mobility, Kaye products, Briggs Healthcare, Carex Health brand, GF Health products, Ottobock, Permobil, Electric mobility, Euroverma

One key constraint for the personal mobility devices market is the lack of infrastructure to support these devices. Inadequate charging stations and parking facilities for electric scooters and bicycles limit the adoption of these devices in urban areas. Addressing this infrastructure challenge will be crucial for the widespread acceptance and growth of the market.

Regulatory hurdles and safety concerns pose another restraint to the personal mobility devices market. As these devices share the road with traditional vehicles and pedestrians, there are challenges related to safety regulations and traffic laws. Ensuring the safety of users and addressing regulatory concerns will be key for the sustainable growth of the market.