Micro-mobility Charging Infrastructure Market Will Generate Booming Growth
The Global Micro-mobility Charging Infrastructures Market was valued at US$ 3.8 Billion in 2021 and is expected to reach US$ 36.6 Billion by year 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, wired Micro-Mobility Charging Infrastructures will remain pivotal for the market as the bulk of revenue will be generated through this category, with a forecasted CAGR of 22.5%.
Wired Chargers to contribute the most to revenue
Wired Charging is expected to continue being the top category. It has an advantage over Wireless charging in speed, range and the ease of managing the thermal loss. Switching over to wireless may become an emerging technology as research increases in improving their efficiency.
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The US to continue being the leading component of revenue in the forecast period
The US will continue to be the leading market for micro-mobility charging infrastructure demand. Legislature such as the Bipartisan Infrastructure Law or the Infrastructure Investment and Jobs act, which assigned approximately US$ 7.5 Bn as funding for the building of a national network of EV chargers, and other programs such as the CMAQ Program and Surface Transportation Block Grant funding, will positively influence demand.
“Micro-mobility Charging Infrastructure manufacturers nowadays are closely working on improving their customer base, adapting to government policies, and developing safer and greener technologies.” comments an analyst at Future Market Insights.
Micro-mobility Charging Infrastructures Market: Competition Insights
At present, Micro-mobility Charging Infrastructure providers are largely aiming at gaining a foothold in the market and adapting to new technology and legislation. The key companies operating in the flexible screen market include Ather Energy, Beam, Bike-energy, Bikeep, Duckt, Electrify America LLC, Flower Turbines, Get Charged, Inc., Giulio Barbieri SRL., Gogoro, Ground Control Systems, Kuhmute Inc., Magment GmbH, Meredot SIA, Numocity Technologies Pvt Ltd., PBSC Urban Solutions, Perch Mobility, Robert Bosch GmbH, Siemens AG, Solum PV. Swiftmile, The Mobility House GmbH, Tier and WiTricity among others.
Some of the recent developments by key providers of Micro-Mobility Charging Infrastructure are as follows:
In June 2022, Statiq, a charging network provider and Hala mobility, a mico-mobility EV startup announced a partnership that will allow Hala’s users to benefit from Statiq’s charging network.
In April 2022, Gogoro went public, listing on NASDAQ after a SPAC deal merger with Poema Global as Gogoro, Inc under the symbols GGROW and GGR for warrants and shares.
In March 2022, Germany-based Swobbee raised US$6.5 Mn in Series A funding. The company focuses on the commercialization of battery swapping.
In February 2022, South Korea’s Swing raised US$24 Mn in Series B funding. The company plans to use the funds raised to increase their fleet and progress into the market in Japan.
In January 2022, Germany’s Soltsol AG and announced a strategic partnership with Swiftmile. They plan to collaborate to establish LEV hubs at locations throughout the European Union, starting with Germany.
In September 2021, Perch Mobility announced a partnership with LAZ Parking. The two companies plan to collaborate through the establishment of Perch’s Community Charging Portals in LAZ spots.
In May 2021, South Korea’s LG Electronics Inc announced a partnership with Kickgoing. The two collaborated to establish 20 wireless electric scooter charging spots in Bucheon, South Korea.
In October 2021, in the joint venture created by battery swapping provider Gogoro and China’s Yadea and DaChangJiang, both vehicle manufacturers invested a combined US$ 50 Mn into the venture. They initially launched 45 battery swap stations and compatible vehicles in Hangzhou, under the Huan Huan brand.
In April 2021, HeroMotoCorp and GogoroInc announced a strategic partnership. Under this partnership, they plan to establish a battery swapping joint venture under which they will combine Gogoro’s battery swapping expertise and Hero’s expertise in the manufacturing of scooters to introduce new vehicles for the Indian Market.