Tokyo, Dec. 05, 2022 (GLOBE NEWSWIRE) -- According to Precedence Research, the global micro-mobility charging infrastructure market size was valued at USD 7.76 billion in 2022.
Regional Snapshot
North American market is exhibiting fastest growth rate. It shall grow well during the forecast. Due to the growing awareness of the environmental issues, there has been an growth in the North American region. As many well-known companies related to this market are based in North America.
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The Asia Pacific region being the most congested and having a lot of urban population happens to be a great market for the micro mobility charging infrastructure as there is an increase in the sales of E-scooters. Middle Eastern Africa and Latin America are expected to have a good growth in the future. There is an adoption of the micro mobility charging infrastructure in the nations like India and China. Japan dominates Asia pacific market and the Asia Pacific region is expected to grow during the forecast.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2022 | USD 7.76 Billion |
| Revenue Forecast by 2030 | USD 45 Billion |
| CAGR | 24.57% from 2022 to 2030 |
| Residential Segment Share | 69% in 2021 |
| Battery-powered Segment Share | 56% in 2021 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
| Key Players | Robert Bosch, GmbH, Bikeep, Bike energy., Ather energy, Flower turbines., Ground control systems., Perch mobility., Solum PV., Magment GmbH., The Mobility House GmbH., SWIFTMILE and Others |
Key Insights:
- The Asia Pacific region has held highest revenue share 45% in 2021.
- By vehicle type, the e-scooters segment has held revenue share of over 61% in 2021.
- By charger type, the wired charger infrastructure segment has accounted highest revenue share of around 54% in 2021.
- By power source type, the battery-powered segment has captured revenue share of over 56% in 2021.
- By end user, the residential segment has dominated the market with revenue share of 69% in 2021.
Market Dynamics
Drivers
The increasing oil and gas prices, ease of parking, the rising road congestion and increasing awareness about the greenhouse gas emissions are expected to play a very important role in the growth of the market of micro mobility charging infrastructure across all the nations in the world. The micro mobility sector provides a flexible transportation alternative. Across the globe. Many nations are making investments in micro mobility sector, so this happens to be a major driving factor for the charging infrastructure.
Restraints
In the nations with less awareness about shared mobility which happens to be in the developing nations, is a barrier to the market growth of this segment. Also, the government failed to legalize or favor the micro mobility automotive act as an important growth factor.
Opportunities as the micro mobility sector is eco friendly. It is silent. It has a low cost of ownership. It is cheaper to run, it helps in energy saving All these are the opportunities in this market. Government provides subsidies for the ownership apart from that. It helps in eliminating the congestion. And reduces the. Fuel cost. using electricity for recharging the vehicles is cheaper than using the fuel. As these vehicles do not emit any greenhouse gases. It has beneficial for the atmosphere also. They make no noise, so the noise pollution is also eliminated.
Challenges
It is difficult to afford a scooter due to the high prices. This technology are still not accessible for average pocket. Providing the infrastructure for the micro mobility charging becomes difficult. Another drawback is the charging time, which can range up to hours depending upon the outlet. Apart from that constant charging, especially when different outlets are used with different power rating, it degrades the battery of the vehicles so it becomes unavoidable to replace them and recycling of these batteries can become complicated and it will lead to increased pollution although there are several models in E-scooters and E-bikes, but they won't be able to cover a range of long distance. So charging these vehicles becomes a hurdle. Steps need to be taken to accommodate the electric vehicles as this happens to be our biggest challenge. There are no bike lanes in many cities, so riding these scooters on the sidewalk poses a threat to the other people. The fast adoption and invention of E-scooters apart from the other battery powered micro vehicles have left many people in hospitals as there have been accidents due to explosion of battery or other reasons. Another issue with the micro mobility is that where to park the vehicles or how to protect the theft.
Related Reports
- Electric Vehicle Charging as a Service Market Research Report 2023 – 2032
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Recent developments
DUCKT is a smart mobility startup that operates and has developed Locking, docking and charging infrastructure for micro mobility in the urban cities the installation of 150 charging points for micro mobility vehicles such as these scooters, as well as E bicycles, has commenced by the France based industry. In the month of March 2021 Toyota and the mobility house in a partnership have aimed to provide buyers of Toyota or Lexus plug in hybrid or the electric car and access to the charging stations. Through the mobility house.
In order to expand the company's infrastructure business Charge Enterprises acquired ANS advanced network services.
In June 2020. Charge my electric vehicle was an application which was introduced by Bosch to help in gaining the access to various 1,50,000 electric vehicle charging spots in the European countries. The same organization has expanded globally by installing charging stations at 6000, various locations across US and Europe. An electric vehicle supply equipment company, EV Box partnered with the Mobile House Company. In order to transform the emission free mobility. The companies invested in research and development to bring intelligent electronic vehicle charging technologies to the market.
Market Segmentation
By Vehicle type
- E- scooter
- E- bikes
- E-unicycles
- E-skateboards
By Charger
- Wired Charger
- Wireless Charger
By Power Source
- Battery Powered
- Solar Powered
By End User
- Residential
- Commercial
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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