The Global Micro-mobility Charging Infrastructure Market size is expected to reach $14. 1 billion by 2027, rising at a market growth of 21. 7% CAGR during the forecast period. Micro-mobility is emerging as an efficient alternative to public transportation as cities around the world focus on solving their transportation crisis despite growing concerns about gas-powered emissions.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Micro-mobility Charging Infrastructure Market By Charger Type, By Power Source, By Vehicle Type, By End User, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131631/?utm_source=GNW
The rising adoption of e-scooters and e-bikes to reduce environmental impact and improve the mode of transportation is expected to drive market growth over the forecast years. Many firms have raised venture capital around the world, providing potential for this market to flourish further.
The market is expected to rise due to the rapidly increasing demand for mobility solutions over the forecast period. These days, riders have a plethora of handy and cost-effective travel options. Consumer tastes have evolved swiftly away from automobile ownership and toward more convenient and alternative modes of transportation as a result of micro-mobility. Micro-mobility charging infrastructure vendors are concentrating their efforts on monetizing this micro-mobility landscape.
The COVID-19 epidemic is predicted to have a detrimental impact on the market growth. As businesses closed and people stayed at home more because of the Covid-19 outbreak, demand for public transportation declined. Due to this, the companies’ profits have suffered to a large extent. Lack of a solid policy framework, as well as a low amount of public awareness, is expected to hinder market expansion throughout the forecast period.
Millions of individuals have been impacted by the COVID-19 pandemic, which has bankrupted businesses and thrown the global economy into chaos. While lockdowns and stay-at-home orders have helped restrict the coronavirus, they have also put a strain on the economy. The micro-mobility industry which encompasses a range of lightweight vehicles such as bicycles, e-scooters, and mopeds is facing devastating declines in ridership and revenue as a result of a new reality of working from home, canceling trips, and even outings to restaurants and grocery stores.
Charger Type Outlook
Based on Charger Type, the market is segmented into Wired and Wireless. The wired segment procured the maximum revenue share of the micro-mobility charging infrastructure in 2020. Companies are concentrating on installing wired charging stations since they are more convenient. Due to the rising demand for e-scooters and e-bikes, they are concentrating on expanding the deployment of wired charging stations. The expansion of the wired charger segment is projected to be aided by these factors.
Power Source Outlook
Based on Power Source, the market is segmented into Battery Powered and Solar Powered. The solar-powered segment would be the fastest growing segment over the forecast period. The increase can be ascribed to a growing awareness of the socially responsible and environmentally friendly alternative for short travels. In comparison to battery-powered stations, these solar-powered micro-mobility charging stations require less maintenance. The aspects would contribute to segment growth over the forecast period.
Vehicle Type Outlook
Based on Vehicle Type, the market is segmented into E-scooters, E-bikes, E-unicycles and E-skateboards. The e-bikes segment is expected to increase significantly over the forecast period. Higher deployment of e-bike charging stations in tourist and public places is likely to drive the segment growth over the forecast period. Multiple e-bikes can be charged at the same time at these charging points. These charging stations may also be easily and rapidly placed on a wall or free-standing.
End User Outlook
Based on End User, the market is segmented into Residential and Commercial. The commercial segment is expected to grow significantly over the forecast period. The micro-mobility method of transportation has a wide range of business applications. This method of transportation finds massive applications in transporting heavy loads over short distances. It is thought to be more cost-effective than conventional systems. These factors are expected to boost the segment’s expansion in the coming years.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would exhibit the fastest growth rate over the forecast period. Aspect like a growing awareness of environmental issues is responsible for the massive growth rate of the region. Moreover, the region’s natural features and urban development encourage the usage of Micro-mobility charging infrastructure. Moreover, the presence of a significant number of well-known companies in the region is likely to boost the regional market growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Bike-energy, Bikeep, Swiftmile, Inc., Get Charged, Inc. (Charge Enterprises, Inc.), Flower Turbines, Inc., Giulio Barbieri Srl, Ground Control Systems, Magment GmbH, and The Mobility House GmbH
Recent Strategies Deployed in Micro-Mobility Charging Infrastructure Market:
Partnerships, Collaborations, and Product launches:
May-2021: The Mobility House extended its partnership with Toyota, a Japanese multinational automotive manufacturer. This extended partnership aimed to provide buyers of Toyota or Lexus plug-in hybrid or electric car access charging stations eligible for a KfW 440 subsidy through The Mobility House.
Aug-2020: The Mobility House came into partnership with EVBox, an Electric Vehicle Supply Equipment company. This partnership focused on boosting the transformation to emission-free mobility with Vehicle-to-Grid (V2G) technologies. In this partnership, EVBox would deliver hardware for projects, which include V2G deployed by The Mobility House. Together, the companies would invest in R&D to bring intelligent EV charging technologies to the market.
Feb-2020: The Mobility House formed a partnership with SEAT, a Spanish car manufacturer. The partnership aimed to provide new electric car owners all the electric mobility services they require from the charging station delivered by SEAT to advice as a home check.
Acquisitions and Mergers:
May-2021: Charge Enterprises, the parent company of Get Charged, Inc. signed a definitive agreement to acquire ANS Advanced Network Services. This acquisition aimed to expand the company’s Infrastructure Business. In addition, ANS’ proven expertise would scale Charge’s Infrastructure Division’s capability, and improve their strategy in 5G and strengthen their vision of electronic vehicle, or EV, installation.
Sep-2020: Bosch took over a 26 percent stake in SUN Mobility through its investment vehicle Robert Bosch Investment Nederland B.V. This acquisition aimed to enable electrification within its four-pillar approach towards mobility, which is Automated, Personalized, Connected, and Electrified. In addition, the companies would also face crucial challenges regarding the adoption of electro-mobility.
Product Launches and Product Expansions:
Dec-2019: Bikeep unveiled the solution of a smart bicycle rack. This solution offers electric bicycle charging and makes it possible to order Bikeep smart bike racks with EV-charging, which available in two options: bike racks with a certain charger or with a universal charger.
Aug-2019: Charge, the parent company of Get Charged, Inc. Introduced New York City’s first docking station in Worth Square located at 200 5th Ave. This demo location showcases one among the400 secured New York Metro locations that are perfect to install Charge’s micromobility docking stations, which offer the important infrastructure for when electric scooters are implemented.
Jun-2020: Bosch introduced an app, Charge My EV. This app provides electric vehicle drivers access to various 150,000 electric vehicle charging spots in 16 European nations. Through the Charge My EV from Bosch, drivers of e-vehicle could easily charge their vehicle on the road without any compulsory contract term or service charges.
Dec-2019: Charge Enterprise expanded its global footprint in the US and Europe by installing charging stations for electric scooters & other micromobility vehicles at 6,000 locations.
Sep-2019: Charge expanded its geographical footprints to more than 6,000 Locations. This expansion is in efforts to build the first Premium Micromobility Servicing Infrastructure Platform.
Scope of the Study
Market Segments covered in the Report:
By Charger Type
By Power Source
• Battery Powered
• Solar Powered
By Vehicle Type
By End User
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Robert Bosch GmbH
• Swiftmile, Inc.
• Get Charged, Inc. (Charge Enterprises, Inc.)
• Flower Turbines, Inc.
• Giulio Barbieri Srl
• Ground Control Systems
• Magment GmbH
• The Mobility House GmbH
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Read the full report: https://www.reportlinker.com/p06131631/?utm_source=GNW
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