Report ID: SQMIG20D2148
Report ID:
SQMIG20D2148 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
63 |
Figures:
66
In 2022, the Asia Pacific region established its dominance in the market, commanding a substantial share of over 44.0% of the global revenue. The robust growth witnessed in the Asia Pacific region can be primarily credited to the extensive smart city projects and proactive initiatives undertaken by various governments across the region. An illustrative example is India, where, in June 2021, the government announced increased subsidies for the purchase of e-bikes and e-scooters, a significant step under the Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME) II scheme, part of the country's smart city project.
The North American regional market is anticipated to exhibit the highest growth rate throughout the forecast period. This growth can be attributed to the escalating awareness regarding the necessity to adopt environmentally friendly transportation alternatives. Furthermore, the geographical features and urban planning within the region lend themselves to the effective deployment of micro-mobility charging infrastructure. The presence of a plethora of key industry players in the North American region further augments its growth potential, adding momentum to the regional market.
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Report ID: SQMIG20D2148