The Micro Mobility Charging Infrastructure market is estimated to be valued at US$ 5160.99885 Mn in 2023 and is expected to exhibit a CAGR of 20.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The micro mobility charging infrastructure market refers to the supporting infrastructure required for charging micro mobility vehicles such as electric bikes, electric scooters and other micromobility vehicles. This includes hardware components such as docking stations, portable chargers as well as software platforms for managing and monitoring charging operations. The growing adoption of shared and personal micro mobility services has led OEMs and infrastructure providers to invest in developing optimized charging solutions.
Market Dynamics:
Rising adoption of e-scooters and electric bikes is a major factor driving demand for micro mobility charging infrastructure solutions. The emergence of shared micro mobility services in various cities has created a need for large-scale centralized charging capabilities. Moreover, rapid fleet expansion plans by shared mobility operators is encouraging infrastructure development. For example, Lime and Bird announced plans to deploy over 1 million e-scooters across North America, Europe and other regions over the next two years. This widespread distribution of electric micromobility vehicles will require reliable and efficient charging networks to be established. Additionally, ongoing infrastructure upgrades in various cities to accommodate micro mobility lanes and docking stations present new growth opportunities.
SWOT ANALYSIS
Strength:
1. Micro mobility charging infrastructure offers scalable and flexible solutions for rapidly growing micromobility market.
2. The electric micromobility industry's rapid expansion provides huge opportunities for charging infrastructure providers.
3. Charging stations infrastructure helps in reducing range anxiety among micromobility users.
Weakness:
1. High initial investments required for setting up micro mobility charging infrastructure network.
2. Technical challenges in developing universal charging solutions compatible with multiple micromobility vehicles.
Opportunity:
1. Growing popularity of shared micromobility services is driving the demand for adequate charging infrastructure.
2. Government initiatives and investments towards developing sustainable transportation are boosting the micro mobility charging infrastructure market.
Threats:
1. Potential saturation of micromobility markets in certain cities poses challenge.
2. Competition from alternative transportation modes can reduce demand for micro mobility solutions.
Key Takeaways
The Global Micro Mobility Charging Infrastructure Market is expected to witness high growth, exhibiting CAGR of 20 % over the forecast period, due to increasing adoption of shared micro mobility services.
Regional analysis:
North America dominates the global micro mobility charging infrastructure market currently. Availability of advanced charging infrastructure network in major cities like San Francisco and availability of supportive government policies are supporting the market growth. Asia pacific micro mobility charging infrastructure market is expected to grow at fastest pace owing to increasing demand for micro mobility solutions in emerging economies like India and China.
Key players:
Key players operating in the Micro Mobility Charging Infrastructure market are Ather Energy, bike-energy, Bikeep, Flower Turbines, Get Charged, Inc., Giulio Barbieri SRL, Ground Control Systems, Magment GmbH, Perch Mobility, Robert Bosch GmbH, Solum PV, SWIFTMILE, and the Mobility House GmbH. The major players are focusing on partnerships and collaborations to expand their micro mobility charging infrastructure solutions portfolio and geographical footprint.
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