Taiwan Micromobility Market Will be Driven by the Last-Mile Services

The Taiwanese micromobility market is on the rise, and will grow at a mammoth growth rate of 61.3% to reach $5,981.6 million by 2030. The main reasons behind the growth of this industry are, traffic congestion, growing urge to reduce air pollution, and the surging need for efficient commutation system for short distances.

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On the basis of value, the first- and last-mile category held the largest share in Taiwanese micromobility market in the past, and will also continue its dominance in the coming years. This is credited to the people of Taiwan who prefer to adopt two-wheelers to travel from their home to office, mainly because of increasing traffic on the roads and cost efficiency.

Automotive original equipment manufacturers are emphasizing more upon launching concept vehicles and micromobility services to compete against their rivals.

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Furthermore, it has been observed that in past few years that there is a rise in the number of micromobility start-ups because of the growing requirement for last-mile connectivity, mainly in urban areas.

Several automotive giants and venture capitalists are investing in the start-ups, which is eventually increasing the competition and generating the urge to develop new products and services.

Furthermore, micromobility is relatively economical as compared to the other mobility services, and also saves a lot of time because of its compact size and easy moving traffic. Such factors encourage people to go for such compact vehicles in order to save time and money, which in turn is fueling the demand for these vehicles in the country.

In urban areas, the requirement for last-mile connectivity is growing significantly because of the huge population, surge in the prices of vehicles, traffic, and shortage of parking space. Such factors provide opportunities for market players providing electric scooters, e-rickshaws, skates, cycles, bikes, and pods for last-mile connectivity.

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This release was published on openPR.