The Thailand Micromobility Market will grow at a mammoth rate of 98.7% by the end of this decade to reach USD 15,102.1 million by 2030.

The important factors accountable for the development of the industry comprise the convenience and low price of these services and their role in the reduction of traffic congestion, air pollution, and the increasing requirement for an effective transport system.

E-mopeds had the largest share in the past and they will continue like this in the years to come, on the basis of vehicle type. This is because of the growing young population, thus resultant in the increasing user base for micromobility services since they make the most use of updated technologies and internet.

Moreover, young students and working professionals are more inclined toward modern means of urban mobility, and, therefore, the demand for cost-effective solutions to meet their daily commuting needs is mostly met by these services.

The first- and last-mile category will grow faster in the industry in the future, based on model. This will mostly be because of the increasing consumer requirement for shared mobility services, snowballing disposable income, and concerns of the government with regards to environmental pollution.

For reducing the pollution levels and the rate of personal vehicle ownership, the government is establishing a strong infra and road network and positioning more EVs for first- and last-mile connectivity.

More than a few companies in the Thailand micromobility market are concentrating on getting a funding from key entrepreneurs, investors, and OEMs.

This has brought about an increase in the competition amid the companies and launch of novel products and services for meeting the last-mile connectivity necessities of customers. Some leading startups have raised heavy funding. Similarly, some of key businesses have invested in micromobility startups.

Micromobility services in the country are gaining popularity recently because of quite a few factors, for example the compact size, environment friendliness, low weight, high availability, and ease of usage of the automobiles. As opposed to the initial stages of stages ride hailing market, the acceptance rate of micromobility services is 10 times higher in Thailand.

Micromobility services offer an affordable travel option, forming a large customer base.

“First- and last-mile” is the distance covered by the people, commuting between a transport hub and the initial point of the journey or destination. Since Shared and Public transport does not connect directly to the doorstep of a person, the first- and last-mile distances are covered by people with their cars or walking to the destination, both of them take a lot of time and effort.

This surges the requirement for a dependable last-mile connectivity system, thus powering the industry.

Due to the low price and convenience of services, the demand for micromobility services in Thailand will continue to rise in the years to come.

Source: P&S Intelligence