The Micro-mobility Charging Infrastructure Market involves equipment and systems used for charging micro-mobility vehicles such as electric scooters and bikes. Micro-mobility vehicles are experiencing increased adoption as they provide eco-friendly last-mile connectivity. Charging infrastructure plays a vital role in promoting the use of electric scooters and bikes by resolving issues relating to range anxiety. Key charging infrastructure includes electric vehicle supply equipment, hardware, and software used for Micro-mobility vehicle charging through wired and wireless technologies.
The Global Micro-mobility Charging Infrastructure Market is estimated to be valued at US$ 5945.48 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Micro-Mobility Charging Infrastructure Market Growth are GE Healthcare, Draegerwerk AG, Philips Healthcare, Medtronic plc, Fisher & Paykel Healthcare Corporation, Hill-Rom Holdings Inc., Spectrum Medical, L&T Healthcare, Jiangsu Yuyue Medical Equipment Co., Ltd., Nanjing Xinbai Medical Devices Co., Ltd. Demand for charging infrastructure is growing with the increasing adoption of shared electric scooter and bike services in cities globally. Technological advancements including wireless and fast charging are further boosting the micro-mobility charging infrastructure market.
Market trends
The market is witnessing growing investments from both private and public sectors to develop widespread charging infrastructure for electric vehicles including micro-mobility vehicles. There is also a rising trend of development of smart charging stations which can communicate with vehicles for automated payment and battery monitoring.
Market Opportunities
Development of universal charging standards for micro-mobility vehicles presents a major market opportunity. Investments in R&D of advanced battery swapping technologies can further increase the widespread adoption of shared micro-mobility services.
Impact of COVID-19 on Micro-mobility Charging Infrastructure Market
The COVID-19 pandemic has impacted the growth of the micro-mobility charging infrastructure market. During the pandemic, lockdowns and travel restrictions significantly reduced the use of shared micro-mobility vehicles like bikes and scooters, negatively impacting the demand for related charging infrastructure. However, with social distancing measures, personal mobility solutions saw increased adoption as people avoided public transportation. This led to higher demand for micro-mobility vehicles that can be privately owned and used. As the market rebounds post pandemic, providers are focusing on strengthening their fleets and charging networks to meet rising demand and changing usage patterns. Contactless payment solutions and enhanced sanitization processes are also being implemented widely to boost user safety and confidence. Overall, while facing headwinds during the lockdown phase, the market is expected to recover steadily and witness expanding opportunities over the long term as micro-mobility emerges as a popular personal transportation alternative globally.
Europe currently holds the largest share of the micro-mobility charging infrastructure market in terms of value. Major European countries like the UK, Germany, France and Italy have well-established bicycle and scooter sharing systems with extensive charging networks installed across major cities to support daily operations. The densely populated urban centers in Europe are particularly conducive for scaling micro-mobility solutions. However, the Asia Pacific region is anticipated to experience the fastest growth during the forecast period. Countries such as China, India and Southeast Asian nations are increasingly adopting environment-friendly micro-mobility services for short-distance commute needs of their burgeoning middle-class populations residing in large metropolitan areas. Rising investment in enabling infrastructure can further accelerate the regional market expansion.
North America is projected to be another lucrative geographical segment for micro-mobility charging infrastructure providers. The US leads the North American market owing to growing popularity of shared bikes and electric scooters among young adults and working professionals living in crowded urban areas. The Biden Administration's focus on developing sustainable transportation infrastructure is also likely to stimulate wider adoption of small electric vehicles and associated charging systems across the region in the coming years.
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