Taiwan 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 Taiwanese micromobility market was valued at $47.3 million in 2020, and it is expected to grow at a CAGR of 61.3% during the forecasted period of 2021–2030. The major factors driving the growth of the market are the surging need for reducing air pollution, traffic congestion, and transportation cost and rising demand for an efficient transportation system for short distances.

The strong Taiwanese investment policies and control on the COVID-19 pandemic have helped the country’s economy grow. As per the Asia & the Pacific Policy Society, the country’s economic growth outpaced China’s, with the former’s economy expanding by nearly 3% in 2020. This is mainly attributable to the increasing demand for emerging technologies from other countries. In the present scenario, in order to protect themselves, people are avoiding using public transport, which has increased the demand for alternative transportation systems, such as shared mobility.

E-Mopeds Dominated Taiwan Micromobility Market due to High Preference of People

The e-mopeds category accounted for the largest value share in 2020 in the Taiwanese micromobility market, based on vehicle type. This is majorly attributed to the fact that the Taiwanese prefer two-wheelers, such as mopeds and motorcycles; therefore, companies operating in the market are playing safe by offering e-mopeds. Further, e-mopeds’ high rise cost per minute as compared to bikes helps them in generating the highest revenue for companies.

First- and Last-Mile Models To Witness Faster Growth due to Their Wide Adoption

The first- and last-mile category accounted for the larger market share, in terms of value, in 2020, and it is projected to register the faster growth during the forecast period, on the basis of model. This is attributed to the fact that users are majorly opting for micromobility services to reach their workplaces from home, or vice versa. Further, to mitigate the commuting time between public transport points and the home or workplace, people prefer using bikes and e-mopeds.

Increasing Interest of Automotive OEMs and Growing Investments Key Market Trends

Automotive original equipment manufacturers (OEM) have preferred launching micromobility services and concept vehicles as the key strategy to increase their competitiveness in the Taiwanese micromobility market. Many automotive OEMs are entering into partnerships and collaborations with existing mobility as a service (MaaS) startups to enhance their footprint in the micromobility industry. Moreover, in the past few years, there has been a swift increase in the number of micromobility startups due to the rising need for last-mile connectivity, especially in urban areas. Many prominent venture capitalists and automotive OEMs have funded emerging companies, which has boosted the industry competition and resulted in the development of new products and services.

Requirement for Controlling Air Pollution and Reduced Transportation Cost Are Driving the Micromobility Market Growth

Environmental pollution is currently a prevalent global issue, due to which a number of stringent regulations are being undertaken. Sustainable energy and the rising use of shared mobility services can considerably contribute to a substantial reduction in daily fuel consumption. For this, the mobility ecosystem is adopting electric vehicles extensively in shared services. Moreover, micromobility offers a low-cost travel option, which has lured commuters. Along with cost saving, micromobility can also save the travel time due to the compact and swift nature of the vehicles. The option of low-cost commute also motivates commuters to replace their walking phase with a suitable means for first- or last-mile connectivity. This strengthens the demand for and use of micromobility services across the country.

Need for Efficient Transportation System for Short Distances also Helping Market Advance

In cities, the need for last-mile connectivity becomes more pertinent due to the large population, traffic congestion, increase in the price of vehicles, and lower availability of parking space. This offers an ample opportunity for service providers, who provide bikes, electric scooters, cycles, skates, e-rickshaws, and shared pods for last-mile connectivity. One of the most-popular last-mile transit modes is dockless bike sharing, which allows the user to book a bicycle online through an app and go to the nearest parked bike with the help of the GPS and use it. After reaching the destination, instead of having to park the bike at a particular kiosk, the user can leave the bike at any nearby parking area and pay for the service online.

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Market Players Involved in Expansions to Gain Significant Position

In recent years, players in the Taiwanese micromobility market have been involved in expansions in order to attain a significant position. For instance:

• In January 2021, Gogoro Inc. expanded its operations in Kaohsiung, Taiwan. Initially, 700 e-scooters are available for use in the southern port city, and the fleet consists of three models: Gogoro Viva, Gogoro 2, and Gogoro 3. They are available 24 hours a day at parking areas near mass rapid transit (MRT) stations and other significant transportation hubs, such as bus and light rail stations.
• In October 2019, WeMo Technology Co. Ltd., a Taiwanese e-moped rental share service company, expanded its sharing services in Kaohsiung city in Taiwan. In the initial stage, the company deployed 300 e-mopeds in the highly populous areas of Kaohsiung, such as Zuoying, Nanzih, and Cianjhen districts. Furthermore, the company announced its plan to increase its fleet to 5,000 vehicles within the next three years.

Key Players in Taiwan Micromobility Market Include:

Market Size Breakdown by Segments

The Taiwan 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