NEW YORK, Nov. 3, 2021 /PRNewswire/ -- The Taiwanese micromobility market size, which was $47.3 million in 2020, is predicted to observe a 61.3% CAGR between 2021 and 2030, to reach $5,981.6 million in 2030. The market is growing because of:
Alarming Air Pollution Levels: Due to the rampant urbanization and industrialization, air pollution in the country is rising. As a result, governments are promoting micromobility services, which are offered via two-wheelers, which are way more fuel-efficient than cars. Moreover, most of the bikes, scooters, and other vehicles deployed in micromobility fleets are electric, which helps reduce emissions.
Need for Cost-Effective Short-Distance Commute: The rising demand for cost-effective commute for the first and last miles is driving the Taiwanese micromobility market as conventional shared mobility services have failed to bridge this gap. For instance, for the $1 people pay for a one-mile carsharing ride, a micromobility ride costs merely $0.3.
The COVID-19 pandemic has helped the Taiwanese micromobility market prosper as the lockdowns led to curtailed bus and metro services. Further, since these means of transport are associated with overcrowding, people are preferring micromobility services to maintain social distancing and reduce the chances of contracting the infection.
In the past, the Taiwanese micromobility market has garnered the highest revenue from the e-mopeds category, based on vehicle type. Due to people's preference for such two-wheelers, service providers are increasing their numbers in their fleets. Moreover, e-mopeds carry a higher ride cost compared to bikes, which makes them economically better for market players.
The largest share in the Taiwanese micromobility market in the coming years, on the basis of model, will be held by the first- and last-mile bifurcation. Most commuters in the country avail of such services to reach their home or office from transit hubs such as metro stations and bus stops or travel the other way round. To avoid paying too much for conventional shared mobility services and save the time spent in walking, micromobility is being opted for here.
In the near future, the dockless bifurcation will advance faster in the Taiwanese micromobility market, under segmentation by sharing system. Dockless systems operate without dedicated pickup and drop-off stations, which allows commuters higher convenience, while for market players, they end up being cost-effective.
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