Australia Micromobility Market Will Propel at an 89.4% CAGR
Australia’s micromobility market is on track for rapid expansion with an 89.4% CAGR. Discover the trends driving this explosive growth.
Maria Yardena
The growth of this industry can be attributed to the low cost and suitability of these solutions, the mounting requirement for lessening traffic congestion in urban locations, and the surging need for first- and last-mile connectivity.
The pandemic of COVID-19 has had a positive impact on this industry. This is because during the pandemic individuals started to avoid the packed public transportation, which led to the increasing requirement for an alternative mode of transport, and micromobility presented as the perfect option.
In the past few years, the e-scooters category, based on type, dominated the industry, and it will remain dominant in the years to come. This can be ascribed to the high e-scooters popularity for recreational purposes and short distances transportation.
Moreover, e-scooters are easily available, inexpensive, and eco-friendly as they don’t necessitate any forms of petroleum-based fuels. These vehicles can be easily driven in congested traffic and also fit in a small area. Additionally, the helpful rules and surging count of trips per automobile will further boost the growth of this category.
In recent years, the dockless category, based on sharing system, accounted for the largest Australia micromobility market share, and it is also likely to advance at a significant rate in the years to come. This can be primarily because of the rising count of companies selecting the dockless bike-sharing idea as it has lesser operating expenses and necessitates less capital.
Moreover, users also favor dockless bike sharing as it is cost-effective and offers suitable features, for instance, flexibility in parking. In addition, the mounting need for e-scooter-sharing services will promote the distribution of more dockless systems in the nation.
In the past few years, the first- and last-mile category, based on model, accounted for the larger share in the industry, and it will also advance at a substantial rate in the years to come. This can be mainly because of the surging requirement for first- and last-mile transport in the nation.
Moreover, it is hard for people to travel here and there via public transportation in every major city. Even though officials of the city put more focus on improving public transport and enhancing its utilization, traveling the first & last miles towards the stop of public transportation or from there to office, college, or home, seems to be a main difficulty for people; here micromobility is the perfect solution.
It is because of the surging requirement to lessen congestion of traffic in urban locations, as well as the low cost and suitability of these solutions, the Australia micromobility industry will progress significantly in the years to come.
Source: P&S Intelligence
