E-Mobility Services Market to Grow at a CAGR of 36% to Reach USD 65 Billion by 2030

E-Mobility Services Market to Grow at a CAGR of 36% to Reach USD 65 Billion by 2030

According to Next Move Strategy Consulting, the global E-Mobility Services Market is witnessing rapid expansion, with a projected market size of USD 65 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 36% by 2030. The market was valued at USD 3.30 billion in 2021, and this significant growth is driven by rising sales of electric vehicles (EVs), increasing adoption of electric micro-mobility solutions, and government initiatives to combat environmental concerns.

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E-mobility services encompass a range of offerings designed to support electric vehicles, including charging infrastructure management and mobility as a service (MaaS) solutions. Customers can access these services through various platforms, such as charging cards or apps, enabling seamless electric vehicle operation across urban and rural landscapes. As electric vehicle adoption grows, the demand for e-mobility services has surged, creating a substantial market opportunity.

Increasing Sales of Electric Vehicles Propel Market Growth

According to the International Energy Agency (IEA), the number of electric vehicles on the road is expected to reach 145 million by 2030. This surge in EV adoption is largely driven by increasing fuel prices, heightened environmental awareness, and government regulations focused on reducing emissions. The expansion of EV infrastructure and reductions in battery costs further support this growth. In addition, automotive giants like Volkswagen and Tesla are investing heavily in electric vehicle development, spurring greater interest in the sector.

Rise in Adoption of Electric Micro-Mobility

The global trend of electric micro-mobility is also contributing to market expansion. Electric bikes, e-scooters, and other micro-mobility solutions are becoming increasingly popular for short-distance commutes, especially in urban areas. Governments worldwide are actively promoting electric micro-mobility to reduce congestion and pollution. For example, cities like Milan have allocated streets for cycling and micromobility to foster cleaner transportation options. Additionally, the decline in lithium-ion battery prices is making electric two-wheelers more affordable, driving adoption in emerging economies.

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Challenges Amidst Market Growth: Semiconductor Shortage

Despite the rapid growth, the e-mobility services market faces challenges such as the global semiconductor chip shortage. In 2021, the automotive sector suffered a USD 200 billion loss due to the scarcity of these essential components, which are crucial for vehicle control, safety features, and more. This shortage has slowed down vehicle production and extended delivery times for high-demand EV models, potentially impacting the market growth in the short term.

Sustainability and Carbon Neutrality Drive Future Opportunities

One of the most significant drivers of the e-mobility services market is the global push for carbon neutrality. Many countries, including those in the European Union, the UK, and Japan, have committed to achieving carbon neutrality by 2050. This has accelerated the electrification of transportation, creating new opportunities for the e-mobility services sector. Leading automakers are focusing on electrifying their entire vehicle portfolio, thereby contributing to the growing demand for related services.

Geographical Insights: Dominance of Asia-Pacific and Growing North American Market

Asia-Pacific is currently the largest and fastest-growing market for e-mobility services, owing to aggressive government initiatives in countries like China and Japan to expand EV infrastructure. China, for instance, plans to accommodate 20 million electric vehicles by 2025 and continues to invest in EV charging networks. Similarly, North America is witnessing steady growth, with the U.S. government proposing a USD 5 billion program to expand EV charging stations.

Competitive Landscape

Key players in the e-mobility services market include Neutron Holdings Inc., Uber Technologies Inc., Bird Rides Inc., Enterprise Holdings Inc., Grab Holdings Inc., and several others. These companies are leveraging strategies like product innovation, partnerships, and geographical expansion to enhance their market presence. For instance, Neutron Holdings launched a shared e-bike service in Ireland, while Grab Holdings entered the location-based services market in Southeast Asia.

Conclusion

The global e-mobility services market is set to experience robust growth, driven by the increasing adoption of electric vehicles, the rise of micro-mobility solutions, and strong governmental support for clean transportation alternatives. While challenges such as semiconductor shortages exist, the market's future remains bright, with ample opportunities for expansion driven by sustainability initiatives and the global push for carbon neutrality.

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