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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Micro-mobility charging infrastructure Market refers to the charging solutions and infrastructure that support the growing fleet of electric scooters and bikes. These charging stations provide a convenient and reliable way to charge micro-mobility vehicles, enabling continuous operation and reducing range anxiety for users. The need for micro-mobility charging infrastructure arises from the increasing adoption of electric scooters and bikes, as they offer a sustainable and efficient mode of transportation, especially for short-distance travel in urban areas. The market offers various charging solutions such as solar-powered charging stations, portable chargers, and dockless charging systems.
B) Market Key Trends:
One key trend driving the growth of the micro-mobility charging infrastructure market is the increasing adoption of electric scooters. Electric scooters have gained popularity as a convenient and eco-friendly mode of transportation in urban areas. They offer numerous advantages such as lower maintenance costs, reduced emissions, and ease of use. As the demand for electric scooters continues to rise, the need for efficient and accessible charging infrastructure also increases. Companies are investing in developing innovative charging solutions to cater to this demand.
For example, Ather Energy, a leading electric scooter manufacturer, has partnered with charging station provider SWIFTMILE to install public charging stations in key cities. These charging stations offer fast charging capabilities and are compatible with Ather’s electric scooters. Such collaborations between scooter manufacturers and charging infrastructure providers are driving the growth of the market.
C) PEST Analysis:
– Political: Government initiatives promoting clean transportation and reducing carbon emissions are driving the demand for micro-mobility charging infrastructure. Policies encouraging the adoption of electric vehicles and providing incentives for the development of charging infrastructure create a favorable environment for market growth.
– Economic: The economic benefits of using electric scooters, such as lower fuel costs and reduced maintenance expenses, are contributing to their increasing adoption. This, in turn, fuels the demand for micro-mobility charging infrastructure.
– Social: The growing awareness about environmental sustainability and the need to reduce air pollution is driving the demand for electric scooters. Micro-mobility charging infrastructure plays a crucial role in supporting the widespread adoption of these eco-friendly vehicles.
– Technological: Advancements in battery technology have improved the range and performance of electric scooters, making them a viable mode of transportation. This, in turn, increases the demand for efficient and accessible charging infrastructure.
D) Key Takeaways:
– 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 increasing adoption of electric scooters. As more people switch to electric scooters for their daily commute, the demand for charging infrastructure will continue to rise.
– The Asia-Pacific region is expected to be the fastest growing and dominating region in the micro-mobility charging infrastructure market. Countries like China and India are witnessing significant growth in the adoption of electric scooters, supported by government policies and incentives.
– 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 investing in research and development to develop innovative charging solutions and expand their market presence.
In conclusion, the global micro-mobility charging infrastructure market is witnessing significant growth due to the increasing adoption of electric scooters. The need for efficient and accessible charging solutions is driving the demand for micro-mobility charging infrastructure. Government initiatives and advancements in battery technology are further accelerating the market growth. The Asia-Pacific region is expected to lead the market, with key players investing in R&D to cater to the growing demand.