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Press Release: Micro-mobility Charging Infrastructure Market is expected to exhibit a CAGR of 23.77% during the Forecast Period (2021 - 2028)
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The micro-mobility charging infrastructure can refer to docking stations, ramps, etc. These charging infrastructure can be deployed in residential sites or commercial sites. Moreover, several micro-mobility vehicles such as electric bike and electric scooters (depending on the model) can be charged at the same time at the micro-mobility charging station.
Growing population is indirectly leading to the depletion of ozone layer which then leads to increased greenhouse effect, this has compelled several countries to take measures to minimize the greenhouse effect by adopting vehicles using alternative sources of energy such as e-scooters, e-bicycles, etc. This has led the key players in the market to install charging points for micro-mobility vehicles. For instance, in March 2021, Duckt, a developer of universal micro-mobility infrastructure solution introduced 150 dock, lock, and charge points across the Paris Rive Gauche area. The main objective was to promote the use of electric vehicles by introducing charging stations.
In June 2021, the Miami Parking Authority (MPA) announced a partnership with Swiftmile to introduce a network of micro-mobility charging stations (Mobility Hubs) in an effort to increase access for integration sustainable, electric transportation. The hub is equipped with solar panels that charge e-scooters with clean, renewable energy.
Furthermore, increasing consumer demand for e-scooters and e-bikes across the U.S. and Europe is expected to boost the global micro-mobility charging infrastructure market growth. For instance, in December 2019, GetCharged, Inc. (“Charge”), a micro-mobility company dedicated to building the largest network of docking, charging and service stations for e-scooters and e-bikes installed 6,000 micro-mobility servicing infrastructure across U.S. and Europe.
However, low level of awareness about shared mobility across the emerging economies is one the major challenges for the global micro-mobility charging infrastructure market growth.
The global micro-mobility charging infrastructure market accounted for US$ 4.12 Bn in terms of value in 2021, and is expected to grow at a CAGR of 23.77% for the period 2021-2028.
Global Micro-mobility Charging Infrastructure Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 is expected to negatively influence the global micro-mobility charging infrastructure market growth. Initially in the pandemic, few companies witnessed decreased sales of e-scooters and e-bikes as the global supply chain was disrupted by lockdown orders and bike stores were forced to close. This has impacted the profitability of the companies. Also, a lack of strong policy framework and public awareness is further anticipated to hamper the market growth over the forecast period.
Statistics:
Asia Pacific held dominant position in the global micro-mobility charging infrastructure market in 2020, accounting for 40.96% share in terms of value, followed by Europe and North America.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2020: | US$ 3.89 Bn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 23.77% | 2028 Value Projection: | US$ 17.13 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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 |
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| Restraints & Challenges: |
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Figure 1: Global Micro-mobility Charging Infrastructure Market Share (%), By Region, 2020
Among regions, Asia Pacific held dominant position in the global micro-mobility charging infrastructure market in 2020, and is estimated to retain its dominance throughout the forecast period, owing to high demand for energy-efficient and emission-free electric two-wheelers, thus making charging infrastructure a necessity for increasing two wheeler vehicle sales in the region. For instance, in April 2021, Ola Electric, a subsidiary of Ola Mobility set up 100 thousand charging stations across 400 cities. The company’s charging stations will be deployed as stand-alone towers in popular locations including malls, IT parks, etc. Therefore, these factors are expected to boost the growth of the global micro-mobility charging infrastructure market.
Major players operating in the global micro-mobility charging infrastructure market include 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.
Among vehicle type segment, e-bike segment held the highest market share in the year 2020, and is expected to retain its market share over the forecast period. The increase in sales of e-bike is expected to boost the global micro-mobility charging infrastructure market. For instance, according to Coherent Market Insights analysis, in Europe, 2,088,000 e-bike units were sold in 2017 and 3,332,000 e-bike units were sold in 2019, showing a growth of 59.6%.
Figure 2: Global Micro-mobility Charging Infrastructure Market Value (US$ Bn), 2017 - 2028
The global Micro-mobility Charging Infrastructure market was valued at US$ 3.12 billion in 2019 and is expected to reach 17.89 billion by 2028, exhibiting a CAGR of 23.77% between 2021 and 2028.
Competitive Section
Major companies operating in the global micro-mobility charging infrastructure market include 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
Key Developments
Charging infrastructure is a major part of micro-mobility industry. These infrastructure can use two types of charging method such as wired and wireless in order to charge micro-mobility vehicle such as e-scooters, e-bikes, etc.
Market Dynamics
Surge in development of micro-mobility charging stations across globe is expected to boost the global micro-mobility charging infrastructure market. For instance, in October 2020, Mumbai-based eMatrixmile India signed an agreement with Magenta EV Solutions to develop 10,000 EV charging stations across India. The charging station named “OYD POD” platform can be used to charge private and public modes of transport and also to support micro mobility vehicles.
In September 2020, GetCharged, Inc. (“Charge”), a micro-mobility company dedicated for building the largest network of docking, charging, and service stations for e-scooters and e-bikes entered into partnership with REEF Technology. Under this partnership, Charge expanded its global footprint to more than 6,000 locations across the globe in efforts to build a strong micro-mobility servicing infrastructure platform.
Increasing focus of Indian government on trials of rental e-bikes is expected to boost the market of micro-mobility charging infrastructure in the country. For instance, in June 2020, Pune Municipal Corporation (PMC) approved the launch of a rental scheme for electric two-wheelers in Pune, India. The project will be undertaken under the ‘Green Pune’ initiative, and V-Tro Motors will run the project. Moreover, under this project 500 charging stations will be established in various parts of the Pune city.
However, lack of charging infrastructure is one of the major challenges for the global micro-mobility charging infrastructure market growth. Moreover, setting up charging stations is a lengthy process and is proving to be a one of the major challenges for the global micro-mobility charging infrastructure market growth.
Market Taxonomy
This report segments the global micro-mobility charging infrastructure market on the basis of vehicle type, type, source, end use, and region. On the basis of vehicle type, global micro-mobility charging infrastructure market is segmented into electric scooters, e-bikes, e-unicycles, and e-skateboards. On the basis of type, global micro-mobility charging infrastructure market is segmented into wired and wireless. On the basis of source, global micro-mobility charging infrastructure market is segmented into solar powered and battery powered. On the basis of end use, global micro-mobility charging infrastructure market is segmented into residential and commercial. On the basis of region, global micro-mobility charging infrastructure market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Key features of the study:
Detailed Segmentation:
**All the pointers will also be provided for the rest of the companies.
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