Japan Micromobility Market To Generate Revenue Worth $11,663.0 Million by 2030
- Published: September 2021
The need for decreasing air pollution and transportation cost, requirement for efficient transportation system for short distances, and necessity for reducing traffic congestion are the major growth drivers for the micromobility market in Japan. Due to the aforementioned factors, the industry is projected to generate $11,663.0 million revenue in 2030, advancing at a CAGR of 78.7% during the forecast period (2021–2030).
In the beginning of 2020, governments of various countries implemented strict measures, such as lockdowns and social distancing, to curb the spread of the COVID-19 virous. The pandemic has significant impact on the overall shared mobility and transportation industry across the globe, including Japan. The outbreak has disrupted the industry's normal operations, particularly in terms of customer demand, followed by marketing, operations, and supply chain. However, government, companies, and other stakeholders are dedicatedly working toward a mobility ecosystem framework, which is a significant factor to develop and integrate advanced micromobility systems in the country.
E-Scooters Category To Witness Fastest Growth During Forecast Period
The Japanese micromobility market is categorized into e-scooters, e-bikes, e-mopeds, e-pods, bikes, and scooters, based on vehicle type. Among these, the e-scooters category is expected to witness the fastest growth during the forecast period. This will mainly be due to the fact that e-scooters for micromobility offer a favorable mode of traveling for shorter distances, as compared to other available public transportation options.
Moreover, the market is bifurcated into first- and last-mile and multimodal, on the basis of model. Of these, the first- and last-mile category is expected to hold the larger market share in coming years. This can be attributed to the entry of global micromobility players in the country and supportive government measures, along with enormous adoption rate of micromobility services by people in Japan.
Furthermore, the micromobility market in Japan is categorized into docked and dockless, on the basis of sharing system. Between the two, the dockless category is expected to witness faster growth during the forecast period. This can be ascribed to the rising number of companies opting for dockless bike sharing concept, as it requires less expenditure than a docked system.
Collaborations and Partnerships Are Most-Effective Strategic Measures
Players in the Japanese micromobility market have been involved in collaborations and partnerships to remain competitive and improve their position. For instance, in June 2018, Mobike collaborated with FUJI KYUKO GROUP, in order to expand micromobility operations in the city of Fuji, Japan. To facilitate connectivity among local train and bus stations, hotels, and tourist destinations, they established Mobike parking spots around Fujikyu Paradise and Kyokujitsu Oka bus stations. This bolstered the network connecting each sightseeing hotspot across Mount Fuji, providing a convenient and eco-friendly means of transport for both residents and tourists.
The major players operating in the Japanese micromobility industry include Mobby ride Inc., Hasegawa Kogyo Co. Ltd., EXx Co. Ltd., OpenStreet Inc., Docomo Bike Share Co. Ltd., Luup Co. Ltd., Ningbo MYWAY Intelligent Technology Co. Ltd., Kwang Yang Motor Co. Ltd., Segway Inc., and Meituan Bike (Mobike).