The increasing demand for micromobility services for first- and last-mile connectivity, cost-effective and convenient mobility options, and need for curbing urban traffic congestion are the major factors driving the growth of the micromobility market in Malaysia. Due to the aforementioned factors, the industry is projected to generate $4,549.8 million revenue in 2030, advancing at a strong CAGR, of 99.9%, during the forecast period (2021–2030).
The COVID-19 pandemic had a substantial impact on almost all industries, including micromobility, in 2020. However, the micromobility industry has begun to show the sign of recovery and it is expected to stabilize in coming years. In Malaysia, lockdowns influenced customer behavior and mobility patterns, with more consumers preferring micromobility over public transit, as shared transportation is seen as a health risk. To reduce the threat of infection, there has been a significant movement away from shared mobility and public transportation. Thus, people seem to prefer single occupancy options.
The Malaysian micromobility market is categorized into e-scooters, e-bikes, e-mopeds, e-pods, bikes, and scooters, on the basis of vehicle type. Among these, the e-mopeds category is projected to exhibit the fastest growth during the forecast period. This can be mainly ascribed to the fact that this vehicle type is widely used in the country, owing to the ease of operation, convenience, economical nature, and environment-friendly mobility option.
Moreover, the Malaysian micromobility market is bifurcated into first- and last-mile and multimodal, on the basis of model. Between the two, the first- and last-mile category accounted for larger market share in 2020. This is primarily due to the surging demand for micromobility services for first- and last-mile traveling. Moreover, users of other popular mobility services, such as ride hailing, carsharing, and ride sharing, do not utilize them for shorter distances, as they are more expensive. As a result, the micromobility services is an excellent and cost-effective choice for such users.
Furthermore, the micromobility market in Malaysia is categorized into docked and dockless, on the basis of sharing system. Out of these, the dockless system accounted for larger share in the market in 2020. This is attributed to the more convenient features and less effort requirement in renting vehicles in this sharing system, which is also offering high flexibility in parking.
Key players in the Malaysian micromobility industry have been involved in their business expansions, in order to gain a significant competitive advantage in the market. For instance, in July 2019, Beam Mobility Holdings Pte Ltd., an e-scooter sharing service provider, announced the expansion of its operations in Malaysia (Kuala Lumpur), Australia (Adelaide, Brisbane, Canberra, Melbourne, Sydney, and Townsville), South Korea (Seoul, Incheon, Gyeonggi do, and Daegu), New Zealand (Auckland, Christchurch, and Wellington), and Singapore.
Similarly, in January 2019, Tryke Transportation Sdn Bhd (Tryke) started its e-scooter sharing service in Cyberjaya, Malaysia, with a fleet of 70 e-scooters. In November 2019, it expanded its services in the city, owing to the robust infrastructure, lower road traffic, strong support from stakeholders and local authority, and presence of a vibrant community of students, young professionals, and tourists.
Some of the key players in the Malaysian micromobility market are Anywheel Pte Ltd., Neuron Mobility Pte Ltd., Grab Holdings Inc., Beam Mobility Holdings Pte. Ltd., Ecocana Sdn Bhd, Falcon Ride WLL, Yadea Technology Group Co. Ltd., Giant Co. Ltd., Merida & Centurion Germany GmbH, Vmoto Limited, Segway Inc., and Tryke Transportation Sdn Bhd.