Australia Micromobility Market Generated Revenue Worth $19,185.6 Million by 2030
- Published: October 2021
The growing demand for reducing traffic congestion in urban areas and the unmet need for efficient first- and last-mile connectivity are responsible for the growth of the Australian micromobility market. Moreover, the low-priced and convenient solution that micromobility is for commuting is propelling the growth of the market. Due to the aforementioned factors, the industry is projected to generate $19,185.6 million revenue in 2030, advancing at a CAGR of 89.5% during the forecast period (2021–2030).
The impact of the COVID-19 pandemic on the Australian micromobility market has been positive. As fewer people are preferring the crowded public transit, the need for alternate means of transportation is growing. Since micromobility has emerged as one of the finest forms of transportation in the light of COVID-19, an increasing number of people are now using these services in the country. Moreover, the concept is receiving strong support from public policies and structures, which include the dedication of parking spaces even in the busiest parts of the cities.
E-Scooters Dominate Market as They Are Convenient for Short Distances
The market is categorized into e-scooters, e-bikes, e-mopeds, e-pods, bikes, and scooters, based on vehicle type. Among these, e-scooter was the leading category in the Australian micromobility market in 2020. The popularity of e-scooters for short distances and recreational purposes has significantly benefited the market for this category. For the same reason, it is expected to lead the market in the forecast period as well.
Further, the market is bifurcated into first- and last-mile and multimodal, based on model. Of these, first- and last-mile was the larger category in 2020. It is also predicted to witness substantial growth during the forecast period owing to the rising demand for first- and last-mile transportation. People find it challenging to travel to and from the primary, often public, means of transportation in all major cities. While city officials place a high priority on enhancing public transportation and boosting its use, traveling the first and final miles to reach a public transit stop or from there to the home, office, or college appears to be a major obstacle for individuals. Micromobility solves this problem, and thus, this category dominates the market.
Market Players Are Expanding Their Business to Dominate Competition
Players in the market have been involved in business and operational expansions. For instance, in July 2019, Beam Mobility Holdings Pte. Ltd., an e-scooter sharing service company, announced that it has established its operations in several countries, such as Australia (Adelaide, Brisbane, Canberra, Melbourne, Sydney, and Townsville), South Korea (Seoul, Incheon, Gyeonggido, and Daegu), Malaysia (Kuala Lumpur), New Zealand (Auckland, Christchurch, and Wellington), and Singapore.
Similarly, in June 2019, Neuron Mobility Pte. Ltd. announced that it has expanded its fleet of 600 patented N3 e-scooters in Brisbane, Australia. This service expansion was part of the Brisbane Clean, Green, Sustainable 2017–2031 initiative, the city’s efforts to strengthen its sustainable practices.
Some of the major players operating in the Australian micromobility market are 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., and Localift Services Pty. Ltd.