Micro-mobility Charging Infrastructure Market Size

Micro-mobility Charging Infrastructure Market Size

Micro-mobility Charging Infrastructure Market size was valued at USD 5 billion in 2023 and is estimated to register a CAGR of over 24% between 2024 and 2032, owing to the technological advancements, government initiatives, and strategic partnerships. Innovations in charging technologies enhance efficiency and accessibility, while supportive government policies stimulate market growth. Collaborations between industry players and governments further amplify the development and deployment of charging solutions, creating a dynamic ecosystem. These combined efforts contribute to the expansion of the micro-mobility charging infrastructure industry, meeting the rising demand for sustainable urban transportation solutions.

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For instance, in 2023, Tork Motors and Log9 joined forces through the Bharat Charge Alliance (BCA) initiative, aiming to advance interoperable charging infrastructure in India. Log9, a member of BCA, incorporated Type 6-Bharat LEV rapid charging into its latest 2W/3W battery platforms, elevating electric mobility solutions in the nation. This underscores their commitment to supporting innovative solutions in the charging industry.
 

The micro-mobility charging infrastructure market is experiencing robust growth driven by strategic investments in charging infrastructure and the parallel development of smart city initiatives. As cities prioritize sustainable transportation, substantial investments in charging networks for electric micro-mobility solutions have become pivotal. Coupled with the ongoing evolution of smart city infrastructure, this synergy created an environment conducive to the seamless integration of efficient and eco-friendly charging solutions, propelling the overall growth and accessibility of micro-mobility charging infrastructure.
 

For instance, in 2023, in collaboration with Swedish automaker Volvo, Starbucks inaugurated electric vehicle charging stations at 15 sites spanning the thousand-mile route from Denver to Seattle. This strategic partnership enhances sustainability options for customers and contributes to the market’s upward trajectory.
 

Despite the promising growth of the micro-mobility charging infrastructure industry, it encounters barriers in the form of high initial setup costs and insufficient regulatory frameworks. Overcoming these challenges presents an opportunity for stakeholders to collaboratively invest in innovative financing models and advocate for clear regulatory guidelines. By addressing these barriers proactively, the industry can unlock the potential for widespread adoption of micro-mobility charging solutions, fostering a sustainable and accessible urban mobility landscape.