EV Micromobility Market to be dominated by E-Scooters vehicle type till 2026
The growing demand for
environment friendly automobiles and rise in the crude oil prices are expected
to drive the demand of the global EV micromobility market for the forecast
period.
According to TechSci Research report, “EV
Micromobility Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2016-2026 Segmented By Vehicle Type (E-Scooters, E-Bikes, E-Mopeds,
E-Kick-Scooters, Others), By Type (Docked, Dock-less) and By Region”, the
global EV micromobility market is expected to grow at a rate of steady CAGR for
the forecast period, 2022-2026. EV micromobility uses several vehicles such as
E-Scooters, E-Kick-Scooters, E-Mopeds, among others. These are in high demand
across the globe as they cover short distances without impacting the
environment adversely. The rising greenhouse emissions into the environment
have created the need for initiatives to lower the adverse effects of climate
change, fueling the demand for electric vehicles around the globe. EV
micromobility uses clean energy and drives with the help of a battery that
needs to be recharged periodically to drive the vehicle. The use of EV
micromobility for commercial purposes such as the transportation of heavy loads
over shorter distances as they offer flexibility to travel through traffic and
are cost-effective is driving the demand for the global EV micromobility
market. The growing demand for electric kick scooters and bicycles through
renting and sharing services influences the market demand. Supportive
government policies providing incentives, subsidies, tax rebates to the
electric vehicle manufacturers, and launch of schemes promoting domestic
production in developing countries are expected to create lucrative
opportunities for the global EV micromobility market for the next five years.
Development of the charging infrastructure to add convenience to the rider
while traveling and the reduction in the cost of electric batteries are
expected to fuel the market demand.
Market players are investing huge amounts in research
and development activities to incorporate innovative features into electric
vehicles. Advancements in the EV technologies and electric automobiles
comprising E-Scooters, E-Mopeds, E-Kick-Scooter, and the growing consumer
awareness regarding the benefits of using EV micromobiliy services are expected
to bolster the market demand for the next five years. Also, manufacturers are implementing the
anti-theft features in electric vehicles by eliminating easier access to
batteries, which is expected to increase the sales of electric vehicles to
cover shorter distances.
However, the lack of well-developed charging
infrastructure may restrain the global EV micromobility market growth for the
next five years.
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Global
EV micromobility market is segmented into vehicle type, type, regional
distribution, and company. Based on vehicle type, the market is divided into
E-Scooters, E-Bikes, E-Mopeds, E-Kick-Scooters and others. The E-Scooter
segment is expected to account for major market share for the forecast period,
2022-2026. The use of E-Scooter is convenient, easy to use, and does not
require a driver's license. E-Scooter is environment-friendly and has lower
operating costs. These are suitable to cover short distances and require less maintenance
than the other type of automobiles. Market players are launching E-Scooters in
different colors and properties, along adopting attractive marketing strategies
is expected to boost the demand for E-Scooters across the globe.
Based
on type, the market is bifurcated into docked and dock-less. The dock-less
segment type is expected to witness the fastest incremental growth for the next
five years. Dock-less segment eliminates the need for large capital investments
as no parking space is needed to park the electric vehicle. The electric
vehicle can be parked anywhere according to consumer convenience and must be
locked with a password or any authentication method.
Segway
Inc., Micro Mobility Systems AG, Ofo Inc., Neutron Holdings, Inc., Bird Rides
Inc. are the leading players operating in global EV micromobility market. Manufacturers
are increasingly focusing on research and development process to fuel higher
growth in the market.
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“Rise
in the investments made by the leading authorities for the infrastructural and
vehicle development and the smart city initiatives in the emerging economies
are expected to create huge potential for the global EV mobility market growth.
The development of smart transportation system and bike-sharing platform along
with the growing construction of charging infrastructure is contributing to the
market growth. Additionally, the rising trend for on-demand transportation
services owing to the high internet penetration and availability of cheaper
solutions through the online channels is expected to propel the global EV
mobility market growth till 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“EV
Micromobility Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2016-2026
Segmented
By Vehicle Type (E-Scooters, E-Bikes, E-Mopeds, E-Kick-Scooters, Others), By
Type (Docked, Dock-less) and By Region” has evaluated
the future growth potential of global EV micromobility market and provided
statistics & information on market size, shares, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in the of global EV micromobility market.
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