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Global Micro-mobility Charging Infrastructure Market Trends: Analyzing Size and Share in 2024

07-22-2024 04:23 PM CET | IT, New Media & Software

Press release from: Market digits

The micro-mobility charging infrastructure market is witnessing a significant surge, set to revolutionize urban transportation. This comprehensive overview outlines the key points, trends, and recent industry news within this rapidly evolving sector. Valued at approximately US$ 3.8 billion in 2021, the global micro-mobility charging infrastructure market is projected to grow at a CAGR of 22.5% over the next decade, potentially reaching nearly US$ 36.6 billion by 2032.

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Key Companies Covered

Ather Energy
Beam
Bike-energy
Bikeep
Duckt
Electrify America LLC
Flower Turbines
Get Charged, Inc.
Giulio Barbieri SRL

Key Points

Market Size and Growth:

The global micro-mobility charging infrastructure market was valued at $4.58 billion in 2022 and is expected to reach $27.70 billion by 2030, growing at a CAGR of 25.9% from 2023 to 2030.

The market is driven by the increasing adoption of micro-mobility vehicles, such as e-scooters and e-bikes, to address transportation challenges and reduce emissions.

Technological Advancements:
The market is witnessing the development of innovative charging solutions, including wireless charging stations and battery swapping technologies, to enhance the user experience and operational efficiency.
Manufacturers are focusing on reducing charging times and improving the overall functionality of micro-mobility charging infrastructure.

Market Segmentation:
The market is segmented by vehicle type, charger type, power source, and end-use, with e-scooters and wired charging stations dominating the market.
The commercial sector is expected to witness the highest growth, as micro-mobility solutions gain traction in various industries.

Regional Dynamics:
North America, led by the United States, currently holds the largest market share, driven by significant investments in micro-mobility infrastructure.
Asia-Pacific, particularly China and India, are emerging as key growth regions, with government initiatives and subsidies promoting the adoption of micro-mobility solutions.

Country-wise Insights

How Will the USA Continue Being the Nucleus of Global Micro-Mobility Charging Infrastructure Demand?

Government support will ensure that the USA remains the largest component of micro-mobility charging infrastructure demand. Studies show that around 60% of American car trips are under 6 miles. The USA leads the market for Micro-Mobility Charging Infrastructure Demand, having experienced a CAGR of 24.8% from 2017 to 2022, with a projected CAGR of 21.5%. In 2021, Congress, under the Biden administration, passed the Bipartisan Infrastructure Law, also known as the Infrastructure Investment and Jobs Act. This act allocates $7.5 billion to build a national network of EV chargers along highway corridors. Additionally, other programs and funds, such as the CMAQ Program and Surface Transportation Block Grant funding, also support shared micro-mobility.

State-level developments have further bolstered this growth. For instance, Oregon Governor Kate Brown and the Oregon Department of Transportation announced that 44 Electric Highway charging stations in Oregon would be equipped with 110-volt outlets to charge electric bikes for free. The USA is expected to see an absolute dollar growth of $10.5 billion, reaching a forecasted market size of $12.3 billion by 2032.

How is the UK Emerging as a Market of Significant Potential?

The UK is emerging as a market of significant potential, with a forecasted market size of $1.4 billion and a CAGR of 20.5% by 2032. The country witnessed a CAGR of 20.5% from 2017 to 2022. In 2022, the government announced through the Queen's Speech the creation of a zero-emission vehicle category, which would allow electric scooters to become road-legal. Prior to this, official rental trials had been set up across the country in 2020, with e-scooters limited to speeds of 15.5 miles per hour. Before the release of this bill, e-scooters outside these trials were only permitted on private lands. The UK's absolute dollar growth is estimated to be $1.2 billion.

Key Trends

Sustainability and Eco-Friendliness:

The growing emphasis on reducing carbon emissions and promoting sustainable transportation is a major driver for the micro-mobility charging infrastructure market.

Manufacturers are developing eco-friendly and recyclable materials for their charging solutions to align with the industry's sustainability goals.

Government Support and Incentives:
Governments across the globe are introducing policies and incentives to encourage the adoption of micro-mobility vehicles and the corresponding charging infrastructure.
These initiatives, such as subsidies and tax credits, are expected to further propel the growth of the micro-mobility charging infrastructure market.

Shared Mobility and Charging Networks:
The rise of shared mobility services, such as e-scooter and e-bike sharing, has increased the demand for a robust charging infrastructure network.
Micro-mobility service providers are investing in the development of extensive charging networks to support their operations and provide a seamless user experience.

Recent Industry News

Major Investments and Partnerships:

In 2020, the German e-scooter startup TIER raised $250 million in a Series C funding round from SoftBank Vision Fund 2 to expand its presence in European cities.

In 2021, Ola Electric Mobility launched its Ola Hypercharger Network, a network of 5,000 charging points across 100 cities in India, to support its range of e-scooters.

Innovative Charging Solutions:
In 2021, LG Electronics launched wireless charging stations in Bucheon, Seoul, in partnership with the local e-scooter sharing service provider Olulo, Inc.'s Kicking.
Several companies are developing battery swapping technologies to enhance the convenience and efficiency of micro-mobility charging.

Regulatory Developments:

Governments are introducing regulations and standards to ensure the safety and interoperability of micro-mobility charging infrastructure, fostering a more streamlined and secure ecosystem.
These regulatory initiatives are expected to provide a stable foundation for the continued growth of the micro-mobility charging infrastructure market.

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Conclusion

The micro-mobility charging infrastructure market is poised for exponential growth, driven by the increasing adoption of eco-friendly transportation solutions, technological advancements, and supportive government policies. As the demand for sustainable and efficient urban mobility continues to rise, the micro-mobility charging infrastructure market is set to play a pivotal role in shaping the future of urban transportation.

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