Micro-mobility Charging Infrastructure Market Size, Share & Trends, COVID-19 Impact Analysis | 2021-2028
Global Micro-mobility charging infrastructure market was valued at USD 3.23 Billion in 2020. It is projected to grow at a compound annual rate (CAGR of 23.4%) between 2021 and 2028. Market growth can be attributed largely to increased investments in micro-mobility modes. To reduce environmental pollution, many users will adopt Micro-mobility as their mode of transport. The market will also benefit from a growing awareness of greenhouse gas emissions. The growing popularity of micro-mobility within cities and towns is making it a reliable and efficient mode of transport. This mode of transportation is more efficient than fossil fuel vehicles in terms of energy conversion. Micro-mobility adoption is expected to be influenced by a variety of factors including rising oil and gas prices and ease of parking. As a result, the market is expected to grow.
The micro-mobility concept is being used in short-distance transportation for both commercial and private individuals. This type of transportation is a more sustainable option for last-mile travel and offers a sustainable mode of travel. The market will grow if more people are aware of the flexible transport options. These factors will contribute to market growth.
Market growth is expected to be driven by a rapidly growing demand for shared mobility solutions. Riders have many options for travel that are convenient and affordable. Consumer preferences have shifted away from owning a vehicle to prefer sharing mobility. It is now possible to use shared mobility for more convenient and cost-effective transportation. This shared mobility ecosystem is being capitalized by micro-mobility infrastructure providers.
Market growth will be affected by the spread of COVID-19. As a result, the demand for public transport was reduced as more people went home and businesses were closed. Companies have suffered as a result. Market growth will be further impeded by a weak policy framework and a lackluster public awareness.
The e-scooters market segment dominated the market and accounted for more than 59.0% of global revenue in 2020. E-scooters are becoming more popular with riders because they are simple to park and charge. E-scooter charging stations help reduce congestion and improve air quality. These platforms can be used with any e-scooter model.
Over the forecast period, the e-bikes market is expected to experience significant growth. The segment’s growth is expected to be driven by the increased deployment of e-bike charging stations in public and tourist areas. Multiple e-bikes can be charged simultaneously at these charging stations. These charging stations can also be mounted on a wall or freestanding.
The market was dominated by the wired segment, which accounted for 53.0% of global revenue in 2020. Companies are focusing their efforts on installing wired charging stations because they are easy to use. Due to the rising demand for e-bikes and e-scooters, they are increasing the number of wired charging stations. These factors will contribute to the expansion of the wired charger market.
The fastest expected CAGR for the wireless segment will be recorded over the forecast period. This segment growth can be attributed primarily to the growing use of autonomous cars in logistics by prominent multinational corporations (MNCs). The potential for wireless charging stations to avoid the plug-in problems that are often encountered with wired charging stations could be a boon. The segment is expected to grow due to the growing demand for micro-mobility fast-charging infrastructure.
The market was dominated by the battery-powered segment, which accounted for over 55.0% of global revenue in 2020. These charging stations are available for use in both public and private parking lots. These stations can also charge multiple vehicles at once. These stations can also be customized to fit the requirements of individual parking spaces.
The fastest expected growth is in the solar-powered segment over the forecast period. This is due to increasing awareness of the eco-friendly and socially distant option for short trips. The maintenance costs for solar-powered micro-mobility charging stations are lower than those for battery-powered ones. These factors will contribute to segment growth during the forecast period.
The market’s largest segment was residential, accounting for over 67.0% of global revenue in 2020. The rising popularity of Micro-mobility is due to factors such as increased urbanization and increasing traffic congestion. There are many products available today that can cater to different transportation needs. These factors will contribute to segment growth during the forecast period.
Over the forecast period, significant growth is expected in the commercial segment. There are many commercial uses for micro-mobility. This method of transport is used extensively to transport heavy loads over short distances. It is more cost-efficient than traditional methods. These factors will all contribute to the segment’s growth in the coming years.
The Asia Pacific dominated the Micro-mobility charging infrastructure industry and accounted for more than 44.0% of global revenue in 2020. It is home to some of the most densely populated and urbanized areas in the world. Additionally, micro-mobility is a more affordable and efficient alternative to traditional mobility systems. As a result, the market players in the region will see growth opportunities.
Over the forecast period, North America will be the fastest-growing regional market. This is due to a growing awareness of eco-friendliness. The region’s geography and urban planning are ideal for Micro-mobility charging infrastructure. Regional market growth will also be driven by the presence of many prominent players in this region.
There are many players in the market. This market is fragmented. This market is seeing large investments from many investors. It is also witnessing many collaborations and partnerships between service-providing businesses and manufacturers. Market players can expect to see growth opportunities from the increasing use of e-bikes and e-scooters around the world.
Market players are primarily focusing on business strategies to expand their customer base and improve their product portfolio. Many players integrate solar-based power sources into their infrastructure. Many governments around the world are now offering bike-sharing programs. The market is expected to grow over the forecast period as a result. The following are some of the major players in the global market for Micro-mobility charging infrastructure:
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