DUBLIN--(BUSINESS WIRE)--The "Taiwan Micromobility Market Research Report: By Type, Model, Sharing System - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The market was valued at $47.3 million in 2020, and it is expected to generate $5,981.6 million revenue by 2030.
The Taiwanese micromobility market is expected to advance at an exceptional CAGR of 61.3% during the forecast period (2021-2030), due to the increasing need to reduce traffic congestion and air pollution, mounting public focus on curtailing transportation costs, and burgeoning demand for efficient transportation systems for short distance commute in the country.
At present, the people of Taiwan are constantly searching for efficient transportation systems for commuting short distances, owing to which, the market is growing at a considerable pace. City dwellers are consistently adopting transportation systems that bridge the surging gap between first- and last-mile connectivity, owing to the vast population, excessive traffic congestion, high vehicle cost, and scarce parking space in the country.
To cater to this need, micromobility service providers are providing e-rickshaws, bikes, cycles, e-scooters, shared pods, and skates for the Taiwanese population. Currently, dockless bike sharing is one of the most preferred last-mile transit modes in the nation.
Moreover, the increasing requirement to control air pollution and reduce transportation costs will also support the Taiwanese micromobility market growth in the foreseeable future. The adoption of micromobility services can significantly reduce daily fuel consumption, owing to which, market players and the government are focusing on creating a micromobility ecosystem that thrives on electric vehicles (EVs). Additionally, the cost-effective travel option offered by these services has also encouraged more people to complete their walking phase with shared micromobility options.
In recent years, the surging interest of automotive original equipment manufacturers (OEMs) on introducing micromobility services and concept vehicles has become a prominent trend in the Taiwanese micromobility market. Several OEMs are partnering and collaborating with the existing mobility as a service (MaaS) startups to reach out to the customers of micromobility services. Over the last few years, there has been a significant surge in the number of micromobility startups in the country, due to the soaring need for last-mile connectivity, primarily in urban centers.
The vehicle type segment of the Taiwanese micromobility market is categorized into scooters, e-scooters, e-mopeds, bikes, e-bikes, and e-pods. Under this segment, the e-mopeds category generated the highest revenue in 2020, because the people of Taiwan prefer two-wheelers, such as motorcycles and mopeds, over any other transportation mode. As e-mopeds have higher ride costs per minute than bikes, the e-mopeds category is generating the highest revenue in this segment in the market.
At present, the companies operating in the Taiwanese micromobility market are expanding their facilities to stay ahead of their competitors.
For instance, in October 2019, WeMo Technology Co. Ltd., an e-moped rental share service providing company, expanded its reach in Kaohsiung city in Taiwan. In the initial phase, the player introduced 300 e-mopeds in the highly populous areas of Kaohsiung, such as Cianjhen, Nanzih, and Zuoying districts. Additionally, the company also plans to expand its fleet to 5,000 vehicles by 2022.
Thus, the burgeoning demand for efficient mobility options for first- and last-mile connectivity and soaring need to curtail air pollution and decrease transportation costs will augment the demand for micromobility services in Taiwan in the years to come.
Key Topics Covered:
Chapter 1. Research Scope
1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
1.5 Market Size Breakdown by Segment
1.6 Key Stakeholders
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
5.1 Total Population
5.2 Vehicle in Use
Chapter 6. Definition of Market Segments
6.1 By Vehicle Type
6.2 By Model
6.2.1 First- and last-mile
6.3 By Sharing System
Chapter 7. Industry Outlook
7.1 Market Dynamics
184.108.40.206 Adoption of battery swapping technology for charging micromobility fleets
220.127.116.11 Increasing Interest of automotive OEMs in micromobility market and growing investment in micromobility market
18.104.22.168 Requirement of controlling air pollution and reducing transportation cost
22.214.171.124 Need for efficient transportation system for short distances
126.96.36.199 Need for reducing traffic congestion
188.8.131.52 Weather and infrastructure challenges
184.108.40.206 Impact analysis of restraints on market forecast
220.127.116.11 Future of micromobility: 5G and autonomous technology
18.104.22.168 Transition from vehicle ownership to MaaS
22.214.171.124 Large fleet of mopeds
7.2 Impact of COVID-19 on Taiwan Micromobility Market
Chapter 8. Policy and Regulatory Landscape
Chapter 9. Taiwan Market Size and Forecast
9.1 Market Size and Forecast
9.1.1 By Vehicle Type
9.1.2 By Model
9.1.3 By Sharing System
9.2 Micromobility TAM
9.2.1 By Vehicle Type
9.2.2 By Model
9.2.3 By Sharing System
Chapter 10. Key Recommendations for Micro-Mobility Service Providers
10.1 Analyst View
10.2 Recommendation for Fleet Size and Infrastructure
10.3 Recommendation for Cost/Revenue for Micromobility Services
Chapter 11. Competitive Landscape
11.1 List of Market Players and Their Offerings
11.2 Key Micromobility Players and Funding Status
11.3 Major Manufacturers and Their Product Offerings
11.4 Recent Strategic Developments
11.4.2 Collaborations and Partnerships
11.4.3 Investment and Funding
Chapter 12. Company Profiles
12.1 Business Overview
12.2 Product and Service Offerings
- Gogoro Inc.
- Beam Mobility Holdings Pte. Ltd.
- Moov Technology (S) Pte Ltd.
- WeMo Technology Co. Ltd.
- Heyun Car Rental Co. Ltd.
- Gokube Co. Ltd.
- UrDa (ITS ELECTRIC VEHICLE TECHNOLOGY CO. LTD.)
- MOOVO MOBILITY LTD
- YouBike Co. Ltd.
- Giant Manufacturing Co. Ltd.
- Segway Inc.
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