The global micromobility charging infrastructure market is expected to record a rapid growth rate owing to the increasing popularity of micromobility in expanding urban areas across the countries.
BlueWeave Consulting, a leading strategic consulting and market research firm, A in its recent study, estimated the global micromobility charging infrastructure market size was USD 3.57 billion in 2021 and is expected grow at an impressive CAGR of 26.9% during the forecast period (2022–2028) to reach a value of USD 17.59 billion by 2028. Major driving factors for the market include increasing investments in the micromobility charging infrastructure and the growing awareness of greenhouse gas emissions by fossil fuel vehicles.
Global Micromobility Charging Infrastructure Market Share and Forecast
Micromobility is seen as a viable means of controlling emissions of greenhouse gasses and expanding access to public transportation. E-scooters and e-bikes are less expensive to produce, operate, and maintain than other types of vehicles. In addition to utilizing renewable energy, such vehicles are fuel-efficient and therefore are expected to help towards the proliferation of micromobility, paving the way for the marketplace and micromobility charging infrastructure to substantially consolidate over the projected time frame.
Micromobility is often characterized by short commutes of less than 5 miles and cars that can not exceed 15 miles per hour. Most of the time, the micromobility charging infrastructure is made up of e-scooters and e-bikes with rechargeable batteries that help fight climate change and provide clean energy sources. The increasing desire for wireless charging stations to charge micromobility cars at a quicker pace and with much more comfort is anticipated to fuel the demand for electromagnetic charging stations. Several companies are now making wireless charging devices, which are smart docking stations that can be used both inside and outside. For instance, in May of 2020, Magment GmbH, a producer of charging stations, released its own adaptive inductive charging mechanisms to provide e-scooters with adaptable inductive charging. These wireless charging stations are easy to set up and are close to streetlamps, parks, and electronic billboards.
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Global Micromobility Charging Infrastructure Market – Rising Demand
Cost- and fuel-efficiency, the growing desire to reduce one’s carbon footprint, and continuous migration to urban areas are expected to drive the demand for micromobility. This, in turn, is expected to boost the demand for micromobility charging infrastructre across the globe. The development of solar-powered charge stations with intelligent parking systems is anticipated to provide growth prospects for the micromobility charging infrastructure market. E-scooter charging stations powered by solar energy are often a priority of industry stakeholders.
Global Micromobility Charging Infrastructure Market – By Vehicle Type
Global micromobility market based on vehicle type is segmented into e-scooters, e-bikes, e-unicycles, and e-skateboards. The e-scooter segment holds the highest revenue share. The growing popularity of e-scooters, which enable integrated mobility commuting as well as first- and last-mile transit, has increased demand for e-scooter micromobility charging stations. The general market micromobility charging stations can be used with any type of e-scooter, giving the user more freedom. E-scooters are becoming popular among riders, as they are easy to park and charge.
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Impact of COVID-19 on Global Micromobility Charging Infrastructure Market
The COVID-19 pandemic had a negative influence on the market. As companies halted and citizens remained at home, the epidemic devastated the availability and accessibility of transportation. This impacted the economies of market participants. In addition, when micromobility car production facilities were abandoned due to the pandemic, the need for segments and sub-charging stations was significantly affected. Due to the shortage of raw materials, a number of sectors encountered considerable obstacles.
APAC continues to dominate the global micromobility charging infrastructure market
Geographically, the global micromobility charging infrastructure market is segment into five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. Asia Pacific accounted for a majority ofsharein themarket. The potential expansion of the Asia-Pacific regional market can be attributed to the infrastructure projects and efforts conducted by numerous authorities in the region. In June 2021, for instance, the Government of India announced an expansion in subsidies for the purchase of e-bikes and e-scooters under its Fast Deployment and Manufacturers of Hybrid-Electric Vehicles (FAME) II program.
Competitive Landscape
Global micromobility charging infrastructure market is highly competitive and fragmented. Major players in the market include Ather Energy, bike-energy, Bikeep, Flower Turbines, Get Charged, IncGiulio Barbieri SRL, Ground Control Systems, Magment GmbH, Perch Mobility, Robert Bosch GmbH, Solum PV, SWIFTMILE, and The Mobility House GmbH. To expand their competitive position, key players in the market execute in various strategies, including mergers and acquistions and forming partnerships.
Recent Developments
Magment GmbH, a charging station provider, released its intelligent wireless charging systems in May 2020 to give e-scooters with flexible wireless charging. These wireless charging stations are simple to set up near streetlights, parks, and electronic advertising boxes. In January 2021, Zypp, an electric vehicle startup, announced its plans to open 5,000 battery swapping facilities in 100 cities across India. In March 2021, Duckt, a creator of universal micromobility infrastructure solutions, launched 150 docking, locking, and charging points in the Paris Rive Gauche area to encourage people utilize electric vehicles by installing charging stations. In June 2021, the Miami Parking Authority (MPA) and Swiftmile announced a co-operation to develop a network of micromobility charging stations (Mobility Hubs) to expand access to sustainable electric transportation. The hub is fitted with solar panels that provide clean, renewable energy to e-scooters.
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