by The global micro-mobility charging infrastructure market is estimated to be valued at US$4,280.5 million in 2022 and is expected to exhibit a CAGR of 20.57% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Micro-mobility charging infrastructure refers to the network of charging stations and infrastructure designed to support the charging and operation of electric scooters and e-bikes. As the demand for sustainable and emission-free transportation options continues to grow, the adoption of electric scooters and e-bikes has witnessed a significant increase. This has created a need for efficient and widespread charging infrastructure to support the growing fleet of micro-mobility vehicles.
Electric scooters and e-bikes offer several advantages over traditional modes of transportation. They are eco-friendly, cost-effective, and convenient for short-distance travel within urban areas. These vehicles play a crucial role in reducing traffic congestion and carbon emissions. To support the widespread adoption of electric scooters and e-bikes, a robust charging infrastructure is required.
B) Market Dynamics:
1) Driver One: Growing Adoption of Electric Scooters and e-Bikes
The increasing awareness of environmental issues and the need to reduce carbon emissions has led to a growing demand for electric scooters and e-bikes. These vehicles offer a convenient and sustainable mode of transportation for short-distance travel. The ease of use, low maintenance costs, and affordability of electric scooters and e-bikes have further fueled their adoption. As the demand for micro-mobility vehicles continues to rise, the need for a reliable and accessible charging infrastructure becomes crucial.
For example, Ather Energy, a leading Indian electric scooter manufacturer, has witnessed a surge in demand for its electric scooters. The company has expanded its charging infrastructure network to meet the growing demand and ensure a seamless charging experience for its customers.
2) Driver Two: Supportive Government Initiatives and Policies
Governments across the globe have recognized the importance of sustainable transportation and have introduced various policies and incentives to promote the adoption of electric vehicles, including electric scooters and e-bikes. These initiatives include subsidies, tax benefits, and the installation of charging infrastructure.
For instance, the European Union has set a target of reducing greenhouse gas emissions by 55% by 2030. To achieve this goal, the EU has allocated significant funding for the development of charging infrastructure for electric vehicles, including micro-mobility vehicles. Similarly, the Indian government has launched the Faster Adoption and Manufacturing of Electric Vehicles (FAME) program to promote the adoption of electric vehicles, including two-wheelers.
C) SWOT Analysis:
Strength:
1) Increasing adoption of electric scooters and e-bikes
2) Supportive government initiatives and policies
Weakness:
1) Limited availability of charging infrastructure in certain regions
2) High upfront costs of setting up charging stations
Opportunity:
1) Technological advancements in charging infrastructure
2) Collaborations and partnerships between micro-mobility companies and charging infrastructure providers
Threats:
1) Competition from other modes of transportation
2) Challenges related to grid capacity and energy management
D) Key Takeaways:
1: The global Micro-Mobility Charging Infrastructure Market Size is expected to witness high growth, exhibiting a CAGR of 20.57% over the forecast period, due to the increasing adoption of electric scooters and e-bikes. The growing demand for sustainable and emission-free transportation options is driving the need for efficient and widespread charging infrastructure.
2: In terms of regional analysis, Europe is expected to be the fastest-growing and dominating region in the micro-mobility charging infrastructure market. The region has witnessed significant government investments in charging infrastructure, supportive policies, and a high adoption rate of electric scooters and e-bikes.
3: Key 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. These companies are actively involved in the development and deployment of charging infrastructure solutions for micro-mobility vehicles.
In conclusion, the global micro-mobility charging infrastructure market is poised for significant growth due to the increasing adoption of electric scooters and e-bikes. Supportive government initiatives and policies further drive the market. However, challenges related to limited availability of charging infrastructure in certain regions and high upfront costs need to be addressed. Technological advancements and collaborations present lucrative opportunities for market players. As the market continues to expand, it is crucial to develop a robust and accessible charging infrastructure to support the growing fleet of micro-mobility vehicles.
