DUBLIN, February 09, 2022–(BUSINESS WIRE)–Added Turkey Micromobility Market Research Report: By Type, Model, Sharing System – Industry Analysis and Growth Forecast to 2030 ResearchAndMarkets.com Offer.
Turkey’s micro mobility market value was US$92.8 million in 2020 and is expected to grow to US$14,711.1 million by 2030, showing a CAGR of 64.5% between 2021 and 2030.
Increasing demand for cleaner environment:
Rapid environmental degradation is one of the main problems in Turkey. Air pollution in the country is above the level recommended by the World Health Organization (WHO) and is responsible for the increasing occurrence of various health problems.
Almost 27% of the country’s total healthcare spending goes on treating diseases caused by air pollution. As micro-mobility solutions reduce the need for vehicles for short-distance commuting, their increasing adoption is expected to result in fewer vehicles on the roads, which in turn will result in a sharp decrease in emissions of greenhouse gases into the atmosphere.
Emerging need to reduce road congestion:
The other major factor driving the advancement of Turkey’s micro-mobility market is the growing demand for road congestion reduction. Due to rapid urbanization, the number of vehicles in major Turkish cities, especially Istanbul, is increasing, causing long traffic jams. Because micro-mobility reduces people’s dependency on private vehicles and offers better connectivity than public transport systems, it is favored over other mobility options.
The COVID-19 pandemic has accelerated the advance of Turkey’s micro-mobility market as people in the country increasingly prefer one-person mobility over conventional mass transit. This is due to the former’s ability to ensure proper social distancing is maintained and reduce the risk of infection.
Micromobility Market Segmentation Analysis in Turkey
The e-scooter category has had the largest share of the Turkish micro-mobility market in recent years and this trend is expected to continue in the vehicle type segment in the coming years. The plentiful and easy availability of e-scooters in the country due to the existence of large fleets is driving the progress of this category.
It is predicted that the first and last mile category will have the higher growth rate in the Turkish micro mobility market within the model segment in the coming years. The increasing road congestion in the country leads to major parking problems. In addition, existing public transit systems are unable to bridge the gap in first and last mile connectivity.
Since micro-mobility solutions such as e-scooters and bicycles do not require large parking spaces, offer more convenience and reduce travel time, they are increasingly used for first and last mile commuting.
Dockless bifurcation has had the larger share of the Turkish micro-mobility market in the sharing systems segment in recent years. This sharing system has been adopted by a large number of fleet operators in the country.
Rapid expansion is also forecast for this category in the coming years, mainly due to increasing congestion and the occurrence of long traffic jams in cities.
Key Findings of Turkey’s Micromobility Market Report
The growing need for a greener environment is driving the market
Increasing road congestion is also driving demand for micro-mobility
The popularity of e-scooters among commuters is set to increase in the coming years
Micro mobility solutions primarily used for first and last mile commuting
Market participants focused on investing and financing activities
The COVID-19 pandemic is driving the demand for micro-mobility solutions
Requirement of maintaining a green environment
Striving for an efficient transport system for short distances
easing traffic congestion
Effects of COVID-19
Political and regulatory landscape
The leading players in the Turkish micro mobility market are
Martin Technologies Inc.
Fenix Technologies Ltd.
HOP Teknoloji AS
Bin Transportation and Smart City Technologies Inc.
Nilespit Smart Bike Sharing Systems
Bisim Smart bike rental system
Kwang Yang Motor Co.Ltd.
For more information about this report, visit https://www.researchandmarkets.com/r/bzgort
View source version on businesswire.com: https://www.businesswire.com/news/home/20220209005519/en/
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