April 21, 2024
Micro-Mobility Charging Infrastructure Market

Micro-mobility Charging Infrastructure Market is Estimated to Witness High Growth Owing to Rising Demand for Shared Micro-mobility Services

Micro-mobility charging infrastructure refers to fixed or portable stations that enable seamless charging of micro-mobility vehicles such as e-scooters and e-bikes. These vehicles are gaining popularity as a shared mobility solution owing to their small size and easy usability for last-mile transportation needs. The growing numbers of shared e-scooters and e-bikes in major cities has created a rising demand for standardized charging infrastructure to ensure operational efficiency and battery maintenance of fleets.

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 from 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. The increasing investments by shared mobility operators and government initiatives to promote micro-mobility present huge growth opportunities in the market. Several cities across major regions are focusing on installation of docking stations and developing specialized zones for parking and charging micro-mobility vehicles which will further drive the global expansion of the micro-mobility charging infrastructure market during the forecast period.

Market drivers

The key driver boosting the growth of the micro-mobility charging infrastructure market is the rising demand for shared micro-mobility services. Over the past few years, adoption of shared e-scooters and e-bikes through renting services by operators like Lime and Bird has grown substantially. This has created the need for large-scale development of standardized charging infrastructure to handle the energy demands and regular maintenance requirements of sizable micro-mobility fleets. Special features like fast charging capabilities and easy portability are some critical requirements driving new infrastructure innovations in this market.

PEST Analysis

Political: Micro-mobility charging infrastructure market is influenced by government policies and regulations on electric vehicles and shared mobility modes. Favorable policies to promote adoption of EVs and low emission transport is encouraging investments in this sector.

Economic: Rising consumer disposable incomes, higher living standards, and growing urbanization are boosting the demand for micro-mobility options. Establishing dedicated charging infrastructure is attracting more riders and supporting the economic growth.

Social: Younger population is inclined towards shared and sustainable mobility solutions for first/last mile connectivity. Their preference for greener commute options is driving the social acceptance of micro-mobility vehicles. Establishing widespread charging points is increasing user convenience.

Technological: Advancements in battery technologies are enabling longer range and faster charging cycles of micro-mobility vehicles. Investments in smart charging solutions, vehicle connectivity, and asset management tools are optimizing operations.

The North American region accounted for the major share of the global micro-mobility charging infrastructure market in terms of value in the historical period. Factors such as advanced infrastructure, higher disposable incomes, and tech adoption have supported market growth in the region.

The Asia Pacific region is anticipated to be the fastest growing market during the forecast period. Countries like China, India, and Japan are witnessing increasing investments to develop charging infrastructure for burgeoning fleets of shared e-scooters and e-bikes. Initiatives to promote EV adoption are further augmenting regional market prospects.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it