Vietnam Micromobility Market: Opportunities, Challenges, and Future Prospects

The Vietnamese micromobility market will grow at a mammoth growth rate of 66% to reach a value of over $10,227 million in 2030. The requirement for plummeting traffic congestion and parking matters and the cost-effective nature of this mobility option are the main factors driving the development of the industry.

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E-mopeds will dominate the industry in the future. This is because of the huge population of tech-savvy consumers, as well as the increasing tourist inflow in the country. Vietnam has a pulsating motorcycle culture, and the development of micromobility services with enhanced e- two-wheelers will have a positive impact on the market.

The presence of e-bikes is a major strategic move chosen by numerous biksharing service providers. Companies are observing a huge requirement for e-bikes from users. The e-bike is a favored mode of transport as it satisfies the requirement for a higher speed in short-distance commutations better as compared to a pedal bike.

Traffic jams are quite common in the country and are a common occurrence. In some of the megacities of Vietnam, such as Hanoi and Ho Chi Minh City, traffic jams are a constant issue, as there are a lot of vehicles, particularly motorcycles.

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Moreover, the usage of cars adds up to further issues, such as parking difficulties and excessive emissions. When there is no efficient means of public transportation, people choose personal vehicles, therefore further obscuring the state of affairs and bringing about more traffic congestion.

The low cost of commutation associated with micromobility sharing services is among the key drivers for the development of the Vietnamese micromobility market. For example, the characteristic revenue structure of an e-bike sharing service such as a preliminary fixed fee to unlock the bike and $0.86 on an hourly basis of travel averagely, which is a lot less than that for other public shared mobility options, including ridesharing services, taxi services, and car rental services.

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This release was published on openPR.