According to Ameco Research Analyst, the global Micro-Mobility Charging Infrastructure Market size would reach more than USD 21,520 Million by 2030, growing at a CAGR of over 22% over the forecast period.
Micro-mobility refers to transportation across short distances of less than 5 miles. It's becoming shorthand for the slew of bike- and scooter-sharing startups ready to transform the urban landscape. With the rise of urbanization, the bulk of people's travels falls into the category of micro-mobility, making them ideal candidates for riding a bike or scooter. Approximately 60% of all travels in the United States are 5 miles or less.
Despite an initial setback at the start of the epidemic, micro-mobility enterprises — both direct-to-consumer and sharing platforms — have witnessed high demand as a result of Covid-19. As more people seek ecologically friendly, single-rider, open-air transit alternatives, micro-mobility firms have the potential to expand even further. Bikes and scooters are potentially safer modes of mobility than public transportation since they allow for outdoor commuting, social distancing control, and fewer points of shared touch. They are also a more environmentally friendly means of transportation than gas and diesel-powered personal vehicles. While the expanding micro-mobility movement has its drawbacks, such as a lack of regulation, citywide prohibitions, and theft, this phenomenon has the potential to substantially disrupt the global mobility business.
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COVID-19 Impact on the Global Micro-Mobility Charging Infrastructure Market
As companies closed and individuals stayed at home because of the Covid-19 outbreak, demand for public or shared transportation plummeted. This was disastrous for unprofitable businesses, especially those that were already losing money. According to a Catapult analysis, Chinese cities are migrating away from public transit and toward private automobiles as lockdowns become simpler. As a result of the shutdown, 45 percent of those questioned by Venson Automotive Solutions reported a considerable improvement in air quality, motivating them to consider purchasing an EV. Furthermore, 17% stated that they intend to purchase an electric vehicle. As a result of the epidemic, there has been a growth in micro mobility, which offers a unique solution to the first mile/last mile conundrum, especially in rural areas where public transportation is neglected.
Market Dynamics
Micro mobility solutions have grown in popularity as having a car in many urban locations is unfeasible, and relying on scheduled public transportation is not always convenient. Many inhabitants choose not to buy a typical car because of the high cost of ownership, growing insurance costs, and a lack of suitable parking. As developers constructed increasingly sophisticated software and tools to support the vehicles, the business drew the attention of tech titans and venture capitalists. Cities have battled to control and define the devices' position in urban transportation systems since then, resulting in a patchwork of regulations that differ by jurisdiction.
Increased awareness of greenhouse gas emissions, rising oil and gas prices, the convenience of parking, and rising traffic congestion are all projected to contribute to the global expansion of the micro-mobility charging infrastructure market. Another factor influencing the growth of the micro mobility charging infrastructure market during the forecast period is growing awareness about flexible transportation options among people all over the world. Rapid development in demand for shared mobility solutions, as well as rising investments in micro mobility modes, are some of the primary driving factors for the micro mobility charging infrastructure market to grow at a faster rate over the forecast period.
Global Micro-Mobility Charging Infrastructure Market Classification
The micro-mobility charging infrastructure market is divided into five categories: vehicle type, charger type, power source, end-use, and geography. The vehicle type segment is categorized into e-bikes, e-scooters, e-unicycles, and e-skateboards. Among vehicle types, the e-scooters segment accounted for the majority of the share in 2021. The charger type segment is split into wired and wireless. Out of them, the wired segment accounted for the majority of the share in 2021. The power source segment is divided into solar-powered and battery-powered. The battery-powered segment accounted for the largest market share in 2021. Furthermore, the end-user segment is categorized into residential and commercial. Among them, the residential end-use accumulated a significant amount of share during the forecast period 2022 – 2030.
Regional Stance
North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global micro-mobility charging infrastructure market. The Asia-Pacific region is one of the leading segments in the global micro-mobility charging infrastructure market. Smart city projects and initiatives conducted by the governments of numerous nations in the region are responsible for the promising growth of the Asia Pacific regional market. North America generated a significant market share during the forecasted years 2022 – 2030. The rapid growth of dockless bike and scooter shares (micro-mobility services) implies that there is a large unmet demand for "small" transportation options. Europe is predicted to be the fastest-growing market over the forecast period. The coronavirus pandemic is transforming cities across Europe, as policymakers strive to find out how to regulate urban mobility without risking citizens' health or inviting gridlock by allowing automobiles to flood in.
Major Players
The top players offered in the report include vendors Alfen N.V., Allego B.V., Continental AG, Electrify America, Leviton Manufacturing Co., Inc., Magna International Inc., Neuron Mobility, SemaConnect, Stable Auto Corporation, and Swiftmile.
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