The elevating need for reducing air pollution and transportation cost, increasing demand for efficient micromobility services for first- and last- mile connectivity, and declining battery price are the major factors driving the growth of the micromobility market in the Philippines. Due to the aforementioned factors, the industry is projected to generate $13,899.7 million revenue in 2030, advancing at a CAGR of 158.6% during the forecast period (2021–2030).
Consumers who seek to partake in outdoor activities while maintaining safe and physical distance to limit the spread of COVID-19 are more inclined to use micromobility services. As a result of the pandemic, people are more interested in first- and last-mile solution, which has a favorable influence on the Philippines micromobility market growth. Micromobility services, which were suspended during the first phase of the epidemic, have been gaining appeal among customers as a low-cost and ecologically sustainable urban transportation option. For instance, when stay-at-home orders were withdrawn in Metro Manila, the majority of people switched from taking public transportation (buses and jeepneys) to walking or cycling to work.
The micromobility market of the Philippines 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 hold the largest market share in the coming years. This can be attributed to the increasing use of this service throughout the years, as well as it is the low-cost alternative. Additionally, e-mopeds provide the highest revenue share due to their high cost per minute when compared to bikes.
Moreover, the market is bifurcated into first- and last-mile and multimodal, on the basis of model. Out of these, the first- and last-mile category accounted for the larger market share in 2020. This is mainly due to the rising consumer preference for micromobility services for first- and last-mile traveling.
Furthermore, the Philippines micromobility market is classified into docked and dockless, on the basis of sharing system. Out of these, the dockless category is expected to grow at a higher growth rate during the forecast period. This can be mainly attributed to the escalating installation of this sharing system by micromobility service providers in the country due to its advantageous features.
Key players in the Philippines micromobility market have been involved in service expansion to gain a significant competitive advantage in the market. For instance, in December 2020, Moovr PH introduced its bike and e-scooter sharing services in Bonifacio Global City (BGC) with a fleet of 200 single-speed bikes, 20 Segway Ninebot Pro Max e-scooters, and 14 hubs. These vehicles can be used for a maximum of 24 hours, while e-scooters are required to be returned if the battery level reduces below 15%.
The major players operating in the market are Grab Holdings Inc., Giant Manufacturing Co. Ltd., Merida & Centurion Germany GmbH, Moovr PH, Ningbo Kaabo Technology Co. Ltd., StreetWheels Philippines, Niu Technologies, Ningbo MYWAY Intelligent Technology Co. Ltd., Kwang Yang Motor Co. Ltd., Segway Inc., and Vmoto Limited.