PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182880
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1182880
Micro Mobility Charging Infrastructure Market size was valued at USD 3,908.4 Million in 2021, expanding at a CAGR of 25.7% from 2022 to 2028.
Micro-mobility is emerging as a viable means of public transportation. Countries worldwide focusing on solving their transportation problems gasoline or diesel is a rising concern based on this micro-mobility is a better alternative to public transportation. Moreover, consumers prefer such stations which allow overnight micro-mobility vehicles to charge in residential areas and in homes which have made the Micro Mobility Charging Infrastructure Market more appealing.
Increasing investment and growing awareness of greenhouse gas in micro-mobility charging infrastructure are the major driving factors for the market. Moreover, as compared to other vehicles type, e-scooters and e-bikes are less expensive to produce, maintain and operate. In addition to this people shifting their interest towards micro-mobility vehicles such as e-scooters and e-bikes which help to reduce congestion and pollution, mostly in rush areas is a major factor stimulating the market growth.
The increasing adoption of e-scooter, which enable integrated mobility transportation and first and last-mile transportation has increased demand for micro-mobility charging stations. However, the high cost of maintaining micro-mobility charging infrastructure is a major challenge for market growth.
The lockdown during a pandemic has decreased the demand for public transportation, as people stayed at home and businesses closed. Additionally, the demand for micro-mobility has been impacted and vehicle manufacturing facilities remained closed due to the pandemic.
The Global Micro Mobility Charging Infrastructure Market is segmented on the basis of Charger Type, Vehicle Type, Power Source, End-User, and Region
The market is divided into three categories based on vehicle type: e-scooter, e-bikes, e-unicycles, and e-skateboard. The e-scooter segment dominates the highest market share. Moreover, riders have shifted their interest towards e-scooter as they are easy to park and recharge.
The market is divided into two categories based on charger type: wireless and wired. Due to the increased adoption of e-bikes and e-scooters, it is also expected that the wired charger segment will also grow. Many companies and nations are exacting on implementing this wired charging infrastructure as they are convenient to use.
The market is divided into two categories based on power source: solar-powered and battery-powered: The solar-powered segment dominates the fastest growth over the forecast period. Moreover, it has many benefits such as reduced operating and maintenance costs. People use solar-powered charging stations to charge their e-scooters within a shorter period to travel short distances.
The market is divided into two categories based on end-user: The residential sector is expected to hold the market share during the forecast period. This is partly due to increased awareness of urbanization and growing traffic congestion.
Due to the continued development in demand for e-scooters in the coming years, the worldwide market for the Micro Mobility Charging Infrastructure is made of both international and local producers, making it a competitive sector in the world. For the modes of transport, many countries are investing in the micro-mobility charging infrastructure due to increased demand from consumers. In order to install this infrastructure land investments are done in many countries for easy use of micro-mobility. Additionally, to produce environmentally friendly vehicles various technological, growing trends, and progressions drive the automobile companies. Due to the development of various micro-mobility charging stations globally sales of e-vehicles are expected to rise which further leads to the growth for this sector.
The scope of this report covers the market by its major segments, which include as follows: