Published: September 2021 | Report Code: AT12249 | Available Format: PDF | Pages: 92
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.
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.
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.
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.
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.
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.
|Base Year (2020) Market Size||$47.3 Million|
|Market Size Forecast in 2030||$5,981.6 Million|
|Forecast Period CAGR||61.3%|
|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), Light Electric Vehicle Association (LEVA), Mobility as a Service Alliance (MaaS Alliance)|
In recent years, players in the Taiwanese micromobility market have been involved in expansions in order to attain a significant position. For instance:
The Taiwan 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
The micromobility market in Taiwan is forecast to witness a CAGR of 61.3% between 2021 and 2030.
The COVID-19 pandemic impacted the Taiwanese micromobility industry positively.
Most end users in the micromobility market of Taiwan prefer the first- and last-mile model.
The entry of automotive OEMs and investments in start-ups are the major Taiwanese micromobility industry trends.
Major companies in the micromobility market of Taiwan are expanding their service networks and fleets.
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