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January 2024
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Micro-mobility charging infrastructure includes all the electric vehicle charging equipment and networks needed to power electric micromobility vehicles such as electric bikes, electric scooters, and electric mopeds. With enhancements in battery technology and growing preferences for sustainable transportation modes, the use of micro-mobility vehicles is increasing significantly. However, a well-established micro-mobility charging infrastructure is important to promote the widespread adoption of such vehicles.
The global Micro-mobility Charging Infrastructure Market is estimated to be valued at US$ 5160.99885 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The growing demand for last mile connectivity is estimated to present a lucrative opportunity for the micro-mobility charging infrastructure market during the forecast period. Rapid urbanization has increased distances within cities leading to increased commuting times. Micro-mobility vehicles can help overcome the problem of last mile connectivity by providing environment-friendly transport from metro stations or bus stops to office or home. However, their widespread adoption requires a robust micro-mobility charging infrastructure with easy access to charging points. Investments by public as well as private organizations to develop micro-mobility networks integrated with public transportation can significantly boost the micro-mobility charging infrastructure market. Porter's Analysis: Micro-mobility Charging Infrastructure Market Threat of new entrants: Low-High because it requires significant capital investments and technology expertise to build charging infrastructure. However, emerging technologies and subsidies by governments could lower the barriers. Bargaining power of buyers: High. Buyers have many options for providers and can negotiate on prices and services. Bargaining power of suppliers: Medium. While a few large players dominate, new innovative suppliers entering the market increase competition. Threat of new substitutes: Medium. Alternate transport modes pose competition but micro-mobility offers unique advantages in dense urban areas. Competitive rivalry: High. Intense competition exists between existing players to gain market share through innovative products and expansion strategies. SWOT Analysis: Micro-mobility Charging Infrastructure Market Strengths: Growing demand for micro-mobility devices drives investments. Varied business models offer flexibility. Weaknesses: High initial costs and dependence on subsidies. Interoperability challenges between devices and networks. Opportunities: Partnerships with cities for sustainable urban mobility. Growing micromobility-sharing and renting services. Threats: Slow regulatory approvals hamper expansions. Safety issues could impact demand. Rising raw material prices impact profits. Key Takeaways: The Global Micro-Mobility Charging Infrastructure Market Size is expected to witness high growth. Regional analysis comprises fastest growing and dominating region. The market size for 2023 is US$ 5160.99885 Mn with a CAGR of 20% during the forecast period of 2023 to 2030. Asia Pacific dominates the market currently due to growing investments by China and India in promoting micro-mobility transport. Europe follows due to supportive regulations in major countries regarding emissions reduction targets. Key players operating in the Micro-mobility Charging Infrastructure market are Ather Energy, bike-energy, Bikeep, Flower Turbines, Get Charged, Inc., Giulio Barbieri SRL, Ground Control Systems, Magment GmbH, Perch Mobility, Robert Bosch GmbH, Solum PV, SWIFTMILE, and the Mobility House GmbH. The players compete on technologies, services, distribution networks and pricing to gain market share. Partnerships with cities and OEMs help expand their presence globally. Get more insights on this topic: https://www.dailyprbulletin.com/micro-mobility-charging-infrastructure-market-size-market-share-analysis/
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