DUBLIN--(BUSINESS WIRE)--The "New Zealand Micromobility Market Research Report - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The New Zealand micromobility market revenue stood at $9.5 million in 2020, and it will grow to $2,395.1 million by 2030, demonstrating a healthy CAGR of 64.3% from 2021 to 2030.
The market is being driven by the low cost and high convenience provided by these solutions, enactment of supportive government policies, and burgeoning demand for reducing traffic congestion in cities.
The surging need to reduce transportation costs is driving the New Zealand micromobility market, as micromobility is an extremely low-cost travel option. Moreover, it reduces the requirement for personal vehicles, which entail insurance charges, fuel costs, and maintenance expenses. Besides helping reduce commuters' traveling expenditure, micromobility services bridge the gap in first- and last-mile connectivity better than conventional shared mobility.
E-scooters are expected to dominate the New Zealand micromobility market in the coming years, under the vehicle type segment. Owing to their ability to provide greater comfort than conventional pedal-assisted bikes, e-scooters are being increasingly preferred by commuters.
The dockless category will exhibit the higher New Zealand micromobility market growth rate in the forthcoming years, within the sharing system segment. A large number of companies are adopting the dockless vehicle sharing system owing to its lower capital requirements than the docked system.
The first- and last-mile category is predicted to contribute the higher revenue to the New Zealand micromobility market, based on model. As e-scooters and bikes are highly effective in easing first- and last-mile connectivity, they are being preferred over other vehicles.
In January 2020, Neuron Mobility Pte. Ltd. announced the expansion of its operations in New Zealand. The organization started providing 880 new-age N3 e-scooters, along with adjustable safety helmets, in Auckland. In June 2019, Flamingo Technologies Limited deployed 400 e-scooters and expanded its operations in Wellington. The company launched these services as part of a trial program, which was initiated by the city's authorities.
The COVID-19 pandemic is propelling the New Zealand micromobility market advance as people are increasingly preferring these solutions owing to their ability to mitigate the spread of the infection. Moreover, people will depend heavily on micromobility for their traveling needs in the upcoming years too because they connect to people's homes and offices from mass transit hubs, such as metro stations and bus stops.
Major players in the New Zealand micromobility market are
- Lime
- Neuron Mobility Pte. Ltd.
- Flamingo Technologies Limited
- Beam Mobility Holdings Pte. Ltd.
- Bird Rides Inc.
- Micro Mobility Systems AG
- SmartMotion Bikes
- The Mobility Company
- Blip
- Ghost Scooters
- Electric Scooter Shop
- Hybrid Bikes Ltd
- Hikobike
- Kwang Yang Motor Co. Ltd.
- Segway Inc.
- Vmoto Limited
Market Dynamics
Trends
- Business Expansion by Market Players
- Investments In Micromobility Market
Drivers
- Low Price and Convenience of Solutions
- Favorable Government Regulations
- Need To Reduce Urban Road Congestion
- Impact Analysis of Drivers On Market Forecast
Restraints
- Fleet Management Challenges and Limitations
- Operational Challenges Amidst Unfavorable Weather Conditions
- Impact Analysis of Restraints On Market Forecast
Opportunities
- Use of IoT To Overcome Challenges With Micromobility
Impact of COVID-19
Policy and Regulatory Landscape
For more information about this report visit https://www.researchandmarkets.com/reports/5513444/new-zealand-micromobility-market-research-report?utm_source=BW&utm_medium=PressRelease&utm_code=gt5wsw&utm_campaign=1646427+-+New+Zealand+Micromobility+Market+Report+2021%3a+Business+Expansion+by+Market+Players+%26+Investments+-+Industry+Analysis+and+Growth+Forecast+to+2030&utm_exec=chdo54prd
