DUBLIN--(BUSINESS WIRE)--The "Turkey 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 Turkish micromobility market value stood at $92.8 million in 2020, and it is expected to rise to $14,711.1 million by 2030, demonstrating a 64.5% CAGR between 2021 and 2030.
Surging Demand for Cleaner Environment:
The rapid environmental degradation is one of the major issues in Turkey. The air pollution level in the country is above the level recommended by the World Health Organization (WHO), and it is responsible for the rising incidence of various health problems.
Nearly 27% of the country's total expenditure on healthcare is for treating diseases caused due to air pollution. As micromobility solutions reduce the requirement for vehicles for short-distance commuting, their growing adoption is expected to lead to fewer vehicles on roads, which will, in turn, cause a sharp fall in the emission of greenhouse gases into the atmosphere.
Burgeoning Need for Reducing Road Congestion:
The other major factor driving the progress of the Turkish micromobility market is the growing demand for reducing road congestion. Due to the rapid urbanization, the number of vehicles in major Turkish cities, particularly Istanbul, is rising, which is leading to long traffic jams. As micromobility reduces the dependence of people on personal vehicles and provides better connectivity than public transportation systems, it is being preferred over other mobility options.
The COVID-19 pandemic has accelerated the advance of the Turkish micromobility market because people in the country are increasingly preferring single-occupancy mobility over conventional mass transit. This is owing to the former's ability to ensure the maintenance of proper social distancing and lower the risk of infection.
Turkey Micromobility Market Segmentation Analysis
The e-scooters category held the largest share in the Turkish micromobility market during the last few years, and this trend is expected to continue in the coming years, under the vehicle type segment. The abundant and easy availability of e-scooters in the country, on account of the existence of large fleets, is driving the progress of this category.
The first- and last-mile category is predicted to exhibit the higher growth rate in the Turkish micromobility market in the coming years, within the model segment. The increasing road congestion in the country is creating major parking problems. Moreover, the existing public transportation systems are not able to bridge the gap in first- and last-mile connectivity.
As micromobility solutions, such as e-scooters and bikes, don't require large parking spaces, provide greater convenience, and reduce the traveling time, they are increasingly being adopted for first- and last-mile commuting.
The dockless bifurcation held the larger share in the Turkish micromobility market, under the sharing system segment, in the years gone by. This sharing system has been adopted by a large number of fleet operators in the country.
This category is also predicted to demonstrate rapid expansion in the forthcoming years, primarily because of the increasing road congestion and the occurrence of long traffic jams in cities.
Key Findings of Turkey Micromobility Market Report
- Growing requirement for greener environment is driving market
- Surging road congestion is also propelling demand for micromobility
- Popularity of e-scooters among commuters will soar in coming years
- Micromobility solutions majorly used for first- and last-mile commuting
- Market players focusing on investment and funding activities
- COVID-19 pandemic is propelling demand for micromobility solutions
Market Dynamics
Trends
- Growing Investments in micromobility market
- Growing competition in e-scooter category
Drivers
- Requirement of maintaining green environment
- Pursuit of efficient transportation system for short distances
- Mitigating the traffic congestion
Restraints
- Non-availability of required infrastructure and undefined legal responsibility in the country
- Impact analysis of restraints on market forecast
Opportunities
- IoT devices overcome challenges in micromobility industry
- 5G and autonomous technology is a boon for micromobility
Impact of COVID-19
Policy and Regulatory Landscape
The leading players operating in the Turkish micromobility market are
- Marti Technologies Inc.
- Fenix Technologies Ltd.
- HOP Teknoloji A.S.
- Bizero Robotics
- Bin Transportation and Smart City Technologies Inc.
- Isbike
- Nilespit Smart Bicycle Rental Systems
- Bisim Smart Bicycle Rental System
- Niu Technologies
- Kwang Yang Motor Co. Ltd.
- Segway Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bzgort
