NEW YORK, September 15, 2021 / PRNewswire / – The Value of Thailand the micromobility market will grow from $ 11.8 million in 2020 at $ 15,102.1 million by 2030, to a CAGR of 98.7% between 2021 and 2030, according to the market research report published by P&S Intelligence.
The main reasons for the surge in demand for such services are as follows:
Cost-effectiveness and convenience: Shared mobility is already known to be more cost-effective than owning and maintaining private vehicles, as the cost of purchasing the vehicle, fuel, maintenance and parking costs, as well as premiums insurance are the responsibility of the service providers. Additionally, rides on these two-wheelers are available between 5-10 THB per 30 minutes after a base fare, making them popular among the masses. In addition, trips can be booked 24/7 through the mobile app or the service providers’ website, which translates into great convenience.
Urban Congestion and Air Pollution: Worsening traffic congestion and air pollution in cities is also boosting Thailand’s micromobility market, as these services are an effective antidote to these problems. Since most vehicles in micromobility fleets are electric, they help reduce greenhouse gas emissions. Likewise, their small size and great maneuverability save space on roads and in parking lots.
Since the lockdowns linked to COVID-19 were lifted, the Thai micromobility market has been booming. Current social distancing standards and fear of infection have forced people to avoid conventional public transport via buses and subways and opt for micromobility.
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The category of electric mopeds will dominate the Thai micromobility market in the coming years, depending on the type of vehicle. Young Thais are increasingly using electric mopeds to commute to work and college, as they are very proficient in the internet and are ready to experiment with fun ways to get around on a daily basis.
In the past, the first and last mile bifurcation held the largest share of the Thai micromobility market, under segmentation by model. Due to strong government support for these services and concerns for the environment, people are avoiding their private vehicles and choosing micromobility for the first and last mile. Additionally, micromobility has been shown to be more effective in solving the first and last mile connectivity problem than conventional shared mobility services, such as carpooling and carsharing.
Explore the Detailed Thailand Micromobility Market Analysis and Growth Forecast to 2030
The faster growth of the Thai micromobility market, based on the sharing system, will be evidenced by the bifurcation at the quayside. While implementing a dockless system is cheaper, it is associated with vandalism and parking chaos, which often prompts governments to impose fines on service providers. Therefore, to avoid such situations and ensure vehicle safety, market players will opt for more grounded systems.
The leading companies in the Thai micromobility market are Ofo Inc., Innotra Co. Ltd., Go Scoot Bangkok, Haupcar Company Limited, Anywheel Pte. Ltd., E Revolution Co. Ltd., Neuron Mobility Pte. Ltd., Niu Technologies, Grab Holdings Inc., Ningbo MYWAY Intelligent Technology Co. Ltd., Falcon Go, Segway Inc., Yadea Group Holdings Ltd. and Giant Manufacturing Co. Ltd.
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