Micro-mobility refers to low-speed transportation options such as electric bicycles, electric scooters, and electric mopeds which provide affordable transportation within a city limits. The Micro-mobility Charging Infrastructure allows for charging these electric vehicles at dedicated stations located strategically within urban areas. Key components of charging infrastructure include charging ports, energy storage systems, and network connectivity. The growing adoption of shared micro-mobility services by major operators is driving significant investments in expanding charging networks by these operators.
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 2024 to 2030.
Shared micro-mobility services allow users easy access to electric vehicles for short intra-city trips without having to own a personal vehicle. This has boosted the demand for charging infrastructure to ensure a continuously charged fleet.
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. Major operators are partnering with these players to deploy customized charging solutions for their fleets.
The adoption of shared electric mobility services is growing rapidly across major cities worldwide due to their affordability, flexibility, and ease of use. This is fueling the demand for expansive charging networks to handle the large fleets of these operators.
Key operators are focusing on global expansion to tap into new markets. This has prompted strategic investments and partnerships for joint deployment of micro-mobility infrastructure across multiple international geographies.
Market Key Trends
One of the key trends in the micro-mobility charging infrastructure market is the development of distributed and modular charging stations. These next-generation stations allow for modular expansion, lower installation costs, and easy relocation. With shared fleets requiring distributed charging locations throughout a city, modular and distributed stations help operators achieve scalable and optimized charging networks. This trend is expected to continue and help drive investments in charging infrastructure projects globally.
Porter’s Analysis
Threat of new entrants: High capital requirements and stringent government regulations make it difficult for new companies to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of options from multiple charging infrastructure providers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due presence of multiple component manufacturers for micro-mobility charging infrastructure.
Threat of new substitutes: Technological innovation can lead to new substitutes like wireless charging that can pose threat to installed infrastructure.
Competitive rivalry: Intense competition exists among established players to gain market share through technological innovation and strategic collaborations.
Geographical Regions
North America holds the largest share of the micro-mobility charging infrastructure market in terms of value owing to high adoption of shared micro-mobility services in major cities. Growing demand for sustainable transportation solutions is driving the market in the region.
Asia Pacific is expected to witness the fastest growth during the forecast period led by China. Rapid urbanization, rising environmental concerns and supportive government policies are fueling the demand for micro-mobility alternatives in the region. Development of charging infrastructure is crucial for growth of shared micro-mobility services in emerging economies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it