Australia Micromobility Market Research Report: By Type (E-Scooters, E-Bikes, E-Mopeds, E-Pods, Bikes, Scooters), Model (First- and Last-Mile, Multimodal), Sharing System (Docked, Dockless) - Industry Analysis and Growth Forecast to 2030

Market Overview

The Australian micromobility market generated $16.9 million revenue in 2020, and it is projected to show a substantial growth rate during the forecast period (2021–2030). The key factors for the growth of the market are the low price and convenience of these solutions, rising demand for first- and last-mile connectivity, and escalating need for reducing traffic congestion in urban areas.

Micromobility in the country had enticed a lot of entrepreneurial and user interest till 2019. However, the preventive measures taken by the government, such as complete lockdowns and even curfews in hotspot areas, halted the healthy demand trend for micromobility services from March 2020 to June 2020. But, the COVID-19 pandemic created opportunities for the micromobility market in Australia as well, as fewer people are choosing the crowded public transit presently, which is why the demand for alternate means of transportation is growing. Micromobility has emerged as one of the most-effective forms of transportation, with a growing number of people in the country using it. The notion is being supported by the government laws and structures that have created dedicated paths and road lanes and allocated parking places for these vehicles even in congested locations.

E-Scooters Held Largest Share due to Their Cost-Effectiveness

The largest share in the Australian micromobility market was held by e-scooters in 2020, on the basis of vehicle type. The popularity of e-scooters for short distances and recreational purposes has boosted the revenue in this category dramatically. Furthermore, e-scooters are economical and accessible, as well as environment-friendly because they do not require gasoline or other petroleum-based fuels. These automobiles are designed to fit in a small space and snake through dense traffic easily. During the forecast period, the increasing number of trips per vehicle and supportive regulations are expected to help the category's growth.

Dockless System To Remain Popular during Forecast Period due to Its Flexible Parking Feature

The dockless bifurcation dominated the Australian micromobility market in 2020, and it will further grow significantly in the forecast period, based on sharing system. It will majorly be due to a rise in the number of businesses choosing the dockless bike sharing concept over the station-based (docked) system because the former requires less capital and has lower operating costs. Consumers also prefer dockless sharing to docked sharing because of its cost-effectiveness and convenient features, such as parking flexibility. Furthermore, in the coming years, the growing demand for e-scooter sharing services will encourage the deployment of more dockless systems in the country.

Battery Swapping Technology Is Key Market Trend

The introduction of swappable batteries has increased the fleet uptime significantly, while also curtailing the operational costs, which has ultimately taken the micromobility industry toward profitability. Moreover, with swappable batteries, scooter unit economies can be ameliorated, as they not only reduce a substantial part of the charging costs but also improve the vehicle availability. Battery swapping can be accomplished in two ways: a) the rider replaces the discharged battery with a charged one at a dedicated swapping center and b) a micromobility company employee or freelancer goes around the city and swaps discharged batteries with charged ones. Thus, advent of battery swapping technology is a key trend witnessed in the micromobility market.

Need for Reducing Traffic Congestion in Urban Areas Helping Market Advance

The growing population has led to an increasing number of daily commuters, thus creating significant road congestion, especially in the peak hours. According to the World Bank, the urban population of the country increased from 20.4 million in 2015 to 22.1 million in 2020. The rising number of commuters is putting extra burden on the existing transportation systems. In the absence of an efficient means of public transportation, people tend to choose personal vehicles, thus further worsening the situation and leading to more traffic congestion.

Micromobility provides better connectivity to public transit hubs, reduces the reliance of people on their personal vehicles, and helps in shrinking the carbon footprint. Moreover, these vehicles are compact and require less space on the roads and at parking stations. Therefore, with the rising population in urban areas, the usage of more-efficient means of transportation, such as micromobility, is rising, especially for short distances.

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Market Players Involved in Raising Investment and Funding

Owing to the increasing demand for micromobility, market players are raising investment and funding.

• In September 2020, Neuron Mobility Pte. Ltd. raised $12.0 million in its series A funding round from Square Peg Capital Pty. Ltd. and GSR Ventures, to expand its operations in Australia and New Zealand. The company was also planning to hire 400 people in Australia, New Zealand, and Singapore.
• In June 2020, Beam Mobility Holdings Pte. Ltd. raised $26.0 million in a new financing round from Sequoia India and Hana Ventures, in order to diversify its services in several Asia-Pacific (APAC) countries, such as South Korea, Australia, Malaysia, New Zealand, and Taiwan. The company had already raised $32.4 million till June 2020.

Key Players in Australia Micromobility Market Include:

• Lime
• Neuron Mobility Pte. Ltd.
• Flamingo Technologies Limited
• Beam Mobility Holdings Pte. Ltd.
• Airbike
• Spinway WA
• Kwang Yang Motor Co. Ltd.
• Segway Inc.
• Vmoto Limited
• Giant Manufacturing Co. Ltd.
• Localift Services Pty. Ltd.

Market Size Breakdown by Segments

The Australian micromobility market report offers comprehensive market segmentation analysis along with market estimation for the period 2019-2030.

Based on Type

• E-scooters
• E-bikes
• E-mopeds
• E-pods
• Bikes
• Scooters

Based on Model

• First- and Last-Mile
• Multimodal          

Based on Sharing System

• Docked
• Dockless