#South Korea Micromobility Market Size

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Travel Without Polluting the Environment with Micro mobility

Air pollution is one of the biggest problems which has encircled the whole world. Vehicles have a lot of contributions to add to the air quality, and South Korea is not an exception to this. With the increasing level of air pollution and to save on transportation costs, the country has started looking forward to micro-mobility. And, because of this, the demand for electric scooters will rise at a mammoth rate of around 52%, and reach a value of around $11,179 million by the end of this decade.

Swing, an electric scooter and micro-mobility start-up of South Korea, announced that it has raised a sum of $24 million to spur its evolution and expansion to Japan. White Star Capital led the funding, which also participated in Berlin-based Tier Mobility, and included existing backer Hashed, amongst others. With the capital, Swing raised a total of about $33 million since its beginning in 2019.

CEO of the startup announced that the startup will make use of the proceeds to surge its fleet of micro-mobility and further penetrate the market in Japan. In 2022, Swing will deploy 100,000 e-bikes, e-scooters, and e-mopeds that will have a changeable battery that is substitutable with each other and mount 200 e-charging stations for its own use and for others as alternatives. Swing presently operates a convoy of 35,000 e- vehicles, like e-mopeds and e-scooters.

Apart from its app, the shared micro-mobility startup newly introduced a novel app called Dayrider that permits delivery riders to rent e-scooters or e-mopeds for just a couple of days without the annoyance of charging.

Seoul announced in the month of September that it will have an addition of 62,000 e-motorcycles, including e-mopeds, and install 200,000 other e-charging stations by 2025 in an effort to decrease GHG emissions. Seoul also announced that it would substitute 100% of the total of 35,000 motorcycles used for last-mile delivery with electric motors.

South Korea’s new rules on e-scooter have upset e-scooter companies. Under the amended act, effective from May 2021, e-scooter riders must be 16 years or over, have a valid license, and wear a helmet. If the new regulations are not followed by the people, a fine will be imposed. The e-scooter users must use bike paths and park the electric scooters away from cars and people. In July, Seoul announced that the illegally parked e-scooters will be towed and a penalty will be charged.

In excess of 20 e-scooter rental businesses are presently operational in South Korea, where there is no boundary on the count of companies or fleets that can operate the business in this sector. Industry sources told that consolidation was initiated in the e-scooter business last year.  A Berlin-based electric-scooter platform Wind Mobility, which arrived in the country’s market two years ago, wrapped its operations in the capital city last October.

The demand for e-two-wheelers in South Korea increased with the need to decrease the pollution level and the cost of traveling.

Source: P&S Intelligence

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Bike And Scooter Rental Market: Key Players and Competitive Landscape

The global bike and scooter rental market size was estimated at USD 5.54 billion in 2023 and is anticipated to grow at a CAGR of 16.8% from 2024 to 2030. The increasing awareness of environmental sustainability and the urgent need to reduce carbon emissions are major drivers for the growth of the market. With rising pollution and traffic congestion, e-bikes and scooters offer a green alternative to traditional vehicles, helping cities lower their carbon footprint. This shift towards eco-friendly transportation is being supported by both governmental policies and consumer preferences, creating a robust market for e-bike and scooter rentals.

Technological advancements are another significant factor propelling the market growth. Innovations in battery technology, such as longer battery life and faster charging times, have made e-bikes and scooters more reliable and convenient for users. Additionally, the integration of GPS and IoT (Internet of Things) technologies has enhanced the user experience by providing real-time tracking, seamless payments, and improved safety features. These technological improvements have made it easier for rental companies to manage their fleets and for customers to access and use these services efficiently.

Growing investment and interest from key automakers and startups in the mobility sector are propelling the growth of the market. Bike and scooter rental companies are investing heavily in expanding their fleets, improving infrastructure, and enhancing user experience. This influx of capital is accelerating the growth and adoption of these services, with many companies partnering with cities to create dedicated lanes and parking zones, further integrating e-bikes and scooters into urban transportation networks.

Gather more insights about the market drivers, restrains and growth of the Bike And Scooter Rental Market

Key Bike And Scooter Rental Company Insights

Some of the participants operating in the market include Lime, Nextbike, Cityscoot, Mobike, Spin, Scoot, Lyft, Skip, Tier Mobility, Bolt. The companies are focusing on various strategic initiatives, including investments, partnerships & collaborations, and agreements to gain a competitive advantage over their rivals. The following are some instances of such initiatives.

• In April 2024, Lime a rental electric scooter and bike operator backed by Uber Technologies Inc., announced a plan to invest $55 million to increase its existing fleet size.

• In January 2024, e-scooter rental companies Tier Mobility and Dott announced their merger, which will create the largest operator in Europe. Their investors are contributing an extra 60 million euros ($66 million) to support the newly combined entity.

• In March 2022, TIER Mobility (TIER) acquired Spin, a micromobility operator previously owned by Ford, expanding its reach to an additional 106 communities across North America.

Global Bike and Scooter Rental Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global bike and scooter rental market report based on propulsion, vehicle, service, and region.

Vehicle Outlook (Revenue, USD Million, 2018 - 2030)

• Bike

• Scooter

Propulsion Outlook (Revenue, USD Million, 2018 - 2030)

• Pedal

• Electric

• Gasoline

Service Outlook (Revenue, USD Million, 2018 - 2030)

• Pay-as-you go

• Subscription Based

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o UK

o Germany

o France

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Latin America

o Brazil

• MEA

o KSA

o UAE

o South Africa

Order a free sample PDF of the Bike And Scooter Rental Market Intelligence Study, published by Grand View Research.

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Global Micromobility Charging Infrastructure Market Research Report 2021

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-micromobility-charging-infrastructure-2021-602

Wired

Wireless

Segment by Application

Commercial

Residential

By Company

Ather Energy

bike-energy

Bikeep

Flower Turbines

Get Charged, Inc.

GiulioBarbieri SRL

Ground Control Systems

Magment GmbH

Perch Mobility

Robert Bosch GmbH

Solum PV

SWIFTMILE

The Mobility House GmbH

Production by Region

North America

Europe

China

Japan

Consumption by Region

North America

United States

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina

Colombia

Middle East & Africa

Turkey

Saudi Arabia

UAE

Get the Complete Report & TOC @ https://www.grandresearchstore.com/energy-and-natural-resources/global-micromobility-charging-infrastructure-2021-602

Table of content

1 Micromobility Charging Infrastructure Market Overview 1.1 Product Overview and Scope of Micromobility Charging Infrastructure 1.2 Micromobility Charging Infrastructure Segment by Type 1.2.1 Global Micromobility Charging Infrastructure Market Size Growth Rate Analysis by Type 2021 VS 2027 1.2.2 Wired 1.2.3 Wireless 1.3 Micromobility Charging Infrastructure Segment by Application 1.3.1 Global Micromobility Charging Infrastructure Consumption Comparison by Application: 2016 VS 2021 VS 2027 1.3.2 Commercial 1.3.3 Residential 1.4 Global Market Growth Prospects 1.4.1 Global Micromobility Charging Infrastructure Revenue Estimates and Forecasts (2016-2027) 1.4.2 Global Micromobility Charging Infrastructure Production Estimates and Forecasts (2016-2027) 1.5 Global Market Size by Region 1.5.1 Global Micromobility Charging Infrastructure Market Size Estimates and Forecasts by Region: 2016 VS 2021 VS 2027 1.5.2 North America Micromobility Charging Infrastructure Estimates and Forecasts (2016-2027) 1.5.3 Europe Micromobility Charging Infrastructure Estimates and Forecasts (2016-2027) 1.5.4 China Micromobility Charging Infrastructure Estimates and Forecasts (2016-2027) 1.5.5 Japan Micromobility Charging Infrastructure Estimates and Forecasts (2016-2027) 2 Market Competition by Manufacturers 2.1 Global Micromobility Charging Infrastructure P

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