Thailand Micromobility Market To Generate Revenue worth $15,102.1 Million in 2030

The growing demand for an efficient transportation system that can also mitigate air pollution and the fact that micromobility is a low-priced and convenient solution for short-distance travel are the major growth drivers for the Thai micromobility market. Due to the aforementioned factors, the industry is projected to generate $15,102.1 million revenue in 2030, advancing at a CAGR of 98.7% during the forecast period (2021–2030).

Although the COVID-19 pandemic severely hurt the Thai economy, it has had a positive impact on its micromobility market, creating ample opportunities for service providers. To comply with government guidelines, people have become inclined toward using micromobility services to maintain social distancing and curb the spread of the disease. This is because the vehicles deployed for these services generally have seating for one, unlike trains, trams, and buses, which are crammed with people.

E-Mopeds To Witness Highest CAGR during Forecast Period

The micromobility market of Thailand is categorized into e-scooters, e-bikes, e-mopeds, e-pods, bikes, and scooters, on the basis of vehicle type. Among these, e-mopeds are projected to register the highest CAGR during the forecast period. This is ascribed to their cost-effectiveness, ease of operation, and environment-friendly advantages, which attract young students and working professionals on a large scale.

Moreover, the micromobility market of Thailand is categorized into first- and last-mile and multimodal, on the basis of model. Out of these, the first- and last-mile bifurcation dominated the market during the historical period (2019–2020), and it is expected to retain its dominance during the forecast period. This will mainly be on account of the rising consumer demand for shared mobility services, increasing disposable income, and elevating government concerns over environmental pollution in the country.

Furthermore, the Thai micromobility market is categorized into docked and dockless, on the basis of sharing system. Out of these, dockless systems accounted for the larger share in the market in 2020. This is mainly attributed to the proliferating demand for shared mobility services among the young population and growing focus of companies on dockless systems as they do not require parking stations, which massively cuts down the investment for market players.

Operational Expansions Are Most-Effective Strategic Measures

Players in the Thai micromobility market have been involved in operational expansions to earn a competitive advantage. For instance, in January 2018, Mobike began operating in Chiang Mai, Thailand, supported by the city municipal council, Tourism Authority of Thailand (TAT), as well as local businesses, universities, and other community groups. This service utilizes the internet of things (IoT) technology and close partnerships with local communities to address the commuting needs of the urban populace.

The major players operating in the micromobility market of Thailand areAnywheel Pte. Ltd., Lime, Neuron Mobility Pte. Ltd., Grab Holdings Inc., Mobike, Ofo Inc., Go Scoot Bangkok, Innotra Co. Ltd., Haupcar Company Limited, Falcon Go, and E-Revolution Co. Ltd.