Micro-mobility charging infrastructure market growing

Future Market Insights (FMI) reported that the global micro-mobility charging infrastructures market is expected to grow to $36.6 billion by 2032.

By Future Market Insights March 6, 2023
Courtesy: Cincinnati Incorporated/Steve Rourke, CFE Media and Technology

According to a recent market study by Future Market Insights (FMI), the Global Micro-mobility Charging Infrastructures Market was valued at $3.8 billion in 2021 and is projected to grow to $36.6 billion by the year 2032. According to the report’s findings, wired Micro-Mobility Charging Infrastructures will continue to play a crucial role in the industry since they are expected to produce the most money with a CAGR of 22.5%.

Wired chargers will increase sales the greatest

It is anticipated that wired charging would remain the most popular category. Speed, range, and simplicity of minimizing heat loss are advantages over wireless charging. The use of wireless may become more prevalent as research on increasing their effectiveness grows.

The US will continue to contribute the majority of revenues over the projection period

The need for micro-mobility charging infrastructure will remain highest in the US. Demand will be positively influenced by legislation like the Bipartisan Infrastructure Law or the Infrastructure Investment and Jobs Act, which allocated about $7.5 billion to build a nationwide network of EV chargers, as well as other programs like the CMAQ Program and Surface Transportation Block Grant funding.

According to a Future Market Insights researcher, “Micro-mobility Charging Infrastructure manufacturers are closely focusing on strengthening their client base, adjusting to governmental rules, and creating safer and greener technologies.”

Recent advances by major suppliers of micro-mobility charging infrastructure including:

  • EV startup Hala mobility and charging network provider Statiq announced a cooperation in June 2022 that will make Statiq’s charging network available to Hala’s users.

  • After a SPAC agreement merger with Poema Global as Gogoro, Inc., the company went public in April 2022 and was listed on NASDAQ under the names GGROW and GGR for warrants and shares, respectively.

  • Swobbee located in Germany secured $6.5 million in Series A investment in March 2022. The business focuses on making battery switching a profitable venture.

  • Swing of South Korea received $24 million in Series B investment in February 2022. The firm intends to expand its fleet and enter the Japanese market with the money received.

  • Swiftmile and Germany’s Soltsol AG formed a strategic alliance in January 2022. They intend to work together to create LEV centers around the European Union, starting in Germany.

  • Perch Mobility and LAZ Parking established cooperation in September 2021. The two businesses want to work together by installing Perch’s Community Charging Portals in LAZ locations.

  • LG Electronics Corp. of South Korea announced a collaboration with Kick going in May 2021. In Bucheon, South Korea, the two worked together to set up 20 wireless electric scooter charging stations.

  • Both carmakers committed a total of $50 million in the joint venture established by battery switching supplier Gogoro and China’s Yadea and DaChangJiang in October 2021. Under the Huan name, they first introduced 45 battery swap stations and compatible automobiles in Hangzhou.

  • Hero MotoCorp and GogoroInc formed a strategic alliance in April 2021. To develop new vehicles for the Indian market, they propose to form a battery-swapping joint venture where they would combine Hero’s competence in the manufacture of scooters with Gogoro’s expertise in battery changing.

– Future Market Insights is a CFE Media and Technology content partner.