Published: October 2021 | Report Code: AT12257 | Available Format: PDF | Pages: 99
The New Zealand micromobility market generated $9.5 million revenue in 2020, and it is expected to grow at a CAGR of 64.3% during the forecast period (2021–2030). The key factors responsible for the growth of the market include the low price and convenience of these solutions, favorable government regulations, and rising need to reduce traffic congestion.
The COVID-19 infection has reached almost every country across the world, including New Zealand. It has had a significant impact on the overall shared mobility and mass transit industries. However, the pandemic has caused a surge in the popularity of micromobility, as, being self-driven, the vehicles significantly reduce the risk of contracting the infection. Thus, people are expected to rely even more on micromobility for their daily mobility needs in the coming years.
In the micromobility market in New Zealand, based on vehicle type, e-scooters have become the preferred means of transport for short distances, which is why this category is expected to dominate the market during the forecast period. One of the major developments in the micromobility market is the inclusion of e-scooters in the fleet because of the additional comfort they offer over pedal-assisted bikes. Due to the desire of people to move faster and more conveniently, an increasing number of service providers are integrating e-scooters into their fleets, which is benefitting the market in this category.
The dockless category is expected to register the faster growth in the New Zealand micromobility market during the forecast period, based on sharing system. It will mainly be due to the rising number of companies opting for the dockless vehicle sharing concept as it requires less capital than a docked sharing system. Additionally, even users find dockless sharing systems more attractive due to their cost-efficiency and convenient features, such as higher parking flexibility.
The number of micromobility startups has been witnessing a rise for the past few years owing to the elevating requirement for last-mile connectivity, particularly in urban areas. The startups are strongly focusing on gaining funding in order to expand their operations. In recent years, various prominent venture capitalists and automotive original equipment manufacturers (OEMs) have funded these startups, which has led to more-intense competition in the market and introduction of new services to satisfy the last-mile connectivity requirements of consumers. Some of the most-significant startups that have received huge funding are Lime, Neuron Mobility Pte. Ltd., Onzo, and Beam Mobility Holdings Pte. Ltd. Likewise, some of the major firms that have made an investment in micromobility startups are Eneco Group, Bain Capital Ventures, GSR Ventures, Sequoia Capital India, and Alphabet Inc.
The growth of the micromobility market in New Zealand has been exponential due to the high availability, low pricing, and ease of functioning of the services. The most-important criterion for selecting a service for a consumer is cost. Micromobility is a low-cost travel option, which has lured commuters to try it. With micromobility, users need not take the hassle of buying a vehicle and bearing vehicle maintenance, insurance, charging/refueling, parking, and other expenses. The option of a low-cost commute thus motivates consumers to replace their walking phase with a suitable two-wheeler for first- and last-mile connectivity.
Along with transportation costs, micromobility can save the time of travel, due to its compact and swift nature. The services are also easily accessible, as users can locate and book the vehicle of their choice directly from the companies’ mobile apps. Further, the government has identified micromobility as a replacement for conventional intra-city transportation systems during the peak hours.
|Base Year (2020) Market Size||$9.5 Million|
|Market Size Forecast in 2030||$2,395.1 Million|
|Forecast Period CAGR||64.3%|
|Report Coverage||Market Trends, Drivers, and Restraints, Revenue Estimation and Forecast, Segmentation Analysis, Impact of COVID-19, Companies’ Strategic Developments, Company Profiling|
|Market Size by Segments||By Vehicle Type, By Model, By Sharing System|
|Secondary Sources and References (Partial List)||Alternative Fuels Data Center (AFDC), Electric Drive Transportation Association (EDTA), Electric Vehicle Association of Asia Pacific (EVAAP), International Energy Agency (IEA), International Kicksled and Scooter Association (IKSA), International Scooter Association (ISA), Telecommunications Industry Association (TIA), The Motor Industry Association of New Zealand (Inc), Transportation Sustainability Research Center, Waka Kotahi NZ Transport Agency|
In recent years, players in the New Zealand micromobility market have been involved in operational expansions, in order to attain a significant position. For instance:
The New Zealand micromobility market report offers comprehensive market segmentation analysis along with market estimation for the period 2019-2030.
Based on Type
Based on Model
Based on Sharing System
In 2030, the micromobility market in New Zealand is expected to value $2,395.1 million.
In the New Zealand micromobility industry, e-scooters account for the highest ride revenue.
Players in the micromobility market of New Zealand prefer dockless systems because they are cheaper to deploy, operate, and maintain.
Funding in start-ups is trending in the New Zealand micromobility industry.
Players in the micromobility market of New Zealand are expanding their fleets and operational areas.
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