Singapore Micromobility Market Research Report: By Type, Model, Sharing System - Industry Analysis and Growth Forecast to 2030

The Singaporean micromobility market size is set to witness a 64.2% CAGR during 2021-2030, to reach $1,817.9 million by 2030 from $15.8 million in 2020.

The demand for these services is growing in the country because of:

Stringent Vehicle Ownership Regulations: Singapore is a small and densely population city-state, which is why the government strongly regulates the number of vehicles on the roads. For a population of 5.6 million, Singapore has only 509,000 cars. The government only allows people to own a car for 10 years, after placing successful bids, which can be as high as $40,000. This offers a vast growth potential to micromobility service providers, who can leverage the unmet need for public transit.
Need for Efficient Short-Distance Transport: The Singaporean micromobility market is also being driven by the rising need for first- and last-mile transportation, which is not provided by conventional mass transit. This issue is graver here because of the low number of private vehicles allowed, exorbitant automobile prices, and availability of less parking space. Therefore, to travel from the home/office to bus stops and metro stations and vice versa, people here are using micromobility.

Since traditional mass transit means, such as buses and metros, are overcrowded, they have raised a serious threat of infection during the pandemic. Hence, the Singaporean micromobility market has been impacted positively as people are using these services to maintain social distancing. Further, bus and metro services were curtailed during the lockdowns, which further drove the popularity of such shared mobility services.

The bikes category will grow the fastest in the Singaporean micromobility market in the coming years, based on vehicle type. These vehicles are environment-friendly and cost-effective for usage. Moreover, due to the presence of numerous service providers, Singapore is one of the biggest bike sharing markets in Asia-Pacific (APAC).

Key Findings of Singapore Micromobility Market Report

Unfavorable vehicle ownership laws boosting micromobility demand
More people availing of services since COVID-19 outbreak
E-scooters to be preferred micromobility vehicle in coming years
Dockless sharing systems preferred by commuters and service providers
Micromobility effective in bridging first- and last-mile gap
5G technology to strengthen micromobility landscape in Singapore

In the past, the first- and last-mile bifurcation dominated the Singaporean micromobility market, on the basis of model. The high population and restrictions on personal vehicles have created a vast unmet need for first- and last-mile transportation, where micromobility has emerged as an efficient solution.

The dockless bifurcation is predicted to generate the highest revenue in the Singaporean micromobility market, under segmentation by sharing system, in the near future. As such systems eliminate the need for docking stations, they offer commuters the convenience of picking up and dropping off the two-wheeler wherever they want and help market players save on the initial investment.

The biggest Singaporean micromobility market players are SG Bike Pte Ltd., Beam Mobility Holdings Pte. Ltd., Moov Technology (S) Pte. Ltd., Grab Holdings Inc., Ningbo MYWAY Intelligent Technology Co. Ltd., Niu Technologies, and Segway Inc.

Frequently Asked Questions about the Singaporean Micromobility Market

What is the estimated value of the Singaporean Micromobility Market?

The Singaporean Micromobility Market was estimated to be valued at $15.8 Million in 2020.

What is the growth rate of the Singaporean Micromobility Market?

The growth rate of the Singaporean Micromobility Market is 60.7%, with an estimated value of $1817.9 Million by 2030.

What is the forecasted size of the Singaporean Micromobility Market?

The Singaporean Micromobility Market is estimated to be worth $1817.9 Million by 2030.

Who are the key companies in the Singaporean Micromobility Market?

Key companies in the Singaporean Micromobility Market include SG Bike Pte Ltd, Moov Technology (S) Pte Ltd., Beam Mobility Holdings Pte. Ltd., Grab Holdings Inc., Niu Technologies, Ningbo MYWAY Intelligent Technology Co. Ltd. and Segway Inc..

Report Attribute	Details
No. of Pages	91
Published	September 2021
Forecast Period	2020 - 2030
Estimated Market Value ( USD ) in 2020	$ 15.8 Million
Forecasted Market Value ( USD ) by 2030	$ 1817.9 Million
Compound Annual Growth Rate	60.7%
Regions Covered	Singapore
No. of Companies Mentioned	7

Chapter 1. Research Scope

1.1 Research Objectives
1.2 Market Definition
1.3 Analysis Period
1.4 Market Data Reporting Unit
1.4.1 Volume
1.4.2 Value
1.5 Market Size Breakdown by Segment
1.5.1 Market Segmentation by Vehicle Type
1.5.2 Market Segmentation by Model
1.5.3 Market Segmentation by Sharing System
1.6 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
2.1.1 Paid
2.1.2 Unpaid
2.1.3 Publisher Database
2.2 Primary Research
2.2.1 Breakdown of Primary Research, by Industry Participant
2.2.2 Breakdown of Primary Research, by Designation
2.3 Market Size and TAM Estimation
2.3.1 Market Size Estimation
2.3.2 Total Addressable Market Size Estimation
2.3.2.1 Walking kilometers TAM estimation
2.3.2.2 Vehicle kilometers TAM estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Notes and Caveats

Chapter 3. Executive SummaryChapter 4. Voice of Industry Experts/KOLs

Chapter 5. Market Indicators

5.1 Total Population
5.2 Vehicle in Use

Chapter 6. Definition of Market Segments

6.1 By Vehicle Type
6.1.1 E-Scooters
6.1.2 E-Bikes
6.1.3 E-Mopeds
6.1.4 E-Pods
6.1.5 Bikes
6.1.6 Scooters
6.2 By Model
6.2.1 First- and last-mile
6.2.2 Multimodal
6.3 By Sharing System
6.3.1 Station-based
6.3.2 Dockless

Chapter 7. Industry Outlook

7.1 Market Dynamics
7.1.1 Trends
7.1.1.1 Automotive OEMs finding vast potential in the micromobility landscape
7.1.1.2 Growing investments in micromobility market
7.1.2 Drivers
7.1.2.1 Compact country size and stringent vehicle ownership regulations
7.1.2.2 Need for efficient transportation system for short distances
7.1.2.3 Impact analysis of drivers on market forecast
7.1.3 Restraints
7.1.3.1 Strict government regulation
7.1.3.2 Weather and infrastructure challenges
7.1.3.3 Impact analysis of restraints on market forecast
7.1.4 Opportunities
7.1.4.1 IoT devices overcome challenges in micromobility industry
7.1.4.2 Future of micromobility: 5G and autonomous technology
7.1.4.3 Transition from vehicle ownership to MaaS
7.2 Impact of COVID-19
7.1 Policy and Regulatory Landscape

Chapter 8. Singapore Market Size and Forecast

8.1 Market Size and Forecast
8.1.1 By Vehicle Type
8.1.2 By Model
8.1.3 By Sharing System
8.2 Micromobility TAM
8.2.1 By Vehicle Type
8.2.2 By Model
8.2.3 By Sharing System

Chapter 9. Key Recommendations

9.1 Analyst View
9.2 Recommendation for Fleet Size and Infrastructure
9.3 Recommendation for Cost/Revenue for Micromobility Services

Chapter 10. Competitive Landscape

10.1 List of Market Players and Their Offerings
10.2 Key Micromobility Players and Funding Status
10.3 Major Manufacturers and Their Product Offerings
10.4 Recent Strategic Developments
10.4.1 Expansions
10.4.2 Collaborations and Partnerships
10.4.3 Investment and Funding
10.4.4 Other Developments

Chapter 11. Company Profiles

11.1 SG Bike Pte Ltd
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.2 Moov Technology (S) Pte Ltd.
11.2.1 Business Overview
11.2.2 Product and Service Offerings
11.3 Beam Mobility Holdings Pte. Ltd.
11.3.1 Business Overview
11.3.2 Product and Service Offerings
11.4 Grab Holdings Inc.
11.4.1 Business Overview
11.4.2 Product and Service Offerings
11.5 Niu Technologies
11.5.1 Business Overview
11.5.2 Product and Service Offerings
11.5.3 Key Financial Summary
11.6 Ningbo MYWAY Intelligent Technology Co. Ltd.
11.6.1 Business Overview
11.6.2 Product and Service Offerings
11.7 Segway Inc.
11.7.1 Business Overview
11.7.2 Product and Service Offerings

Chapter 12. Appendix

12.1 Abbreviations
12.2 Sources and References
12.3 Related Reports

LIST OF TABLES

TABLE 1 ANALYSIS PERIOD OF THE STUDY
TABLE 2 MODE SHIFT FOR WALKING KILOMETERS, BY VEHICLE CATEGORY
TABLE 3 MODE SHIFT FOR WALKING KILOMETERS, BASED ON PURPOSE OF TRIP
TABLE 4 MODE SHIFT FOR VEHICLE KILOMETERS
TABLE 5 MICROMOBILITY-RELATED ACTIVITIES OF AUTOMOTIVE OEMS
TABLE 6 TOTAL FUNDING TO KEY STARTUPS
TABLE 7 DRIVERS FOR THE MARKET: IMPACT ANALYSIS
TABLE 8 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS
TABLE 9 IMPACT OF COVID-19 CRISIS ON MICROMOBILITY MARKET
TABLE 10 PATHS AND MICROMOBILITY VEHICLE RUNNING PERMITS
TABLE 11 SINGAPORE MICROMOBILITY FLEET SIZE AND FORECAST, ‘000 UNITS (2019–2025)
TABLE 12 SINGAPORE MICROMOBILITY FLEET SIZE AND FORECAST, ‘000 UNITS (2026–2030)
TABLE 13 SINGAPORE MICROMOBILITY MARKET, $M (2015–2020)
TABLE 14 SINGAPORE MICROMOBILITY MARKET, $M (2021–2030)
TABLE 15 SINGAPORE MICROMOBILITY MARKET SIZE, BY VEHICLE TYPE, $M (2019–2025)
TABLE 16 SINGAPORE MICROMOBILITY MARKET SIZE, BY VEHICLE TYPE, $M (2026–2030)
TABLE 17 SINGAPORE MICROMOBILITY MARKET SIZE, BY MODEL, $M (2019–2025)
TABLE 18 SINGAPORE MICROMOBILITY MARKET SIZE, BY MODEL, $M (2026–2030)
TABLE 19 SINGAPORE MICROMOBILITY MARKET SIZE, BY SHARING SYSTEM, $M (2019–2025)
TABLE 20 SINGAPORE MICROMOBILITY MARKET SIZE, BY SHARING SYSTEM, $M (2026–2030)
TABLE 21 SINGAPORE MICROMOBILITY TAM, BY VEHICLE TYPE, $M (2015–2020)
TABLE 22 SINGAPORE MICROMOBILITY TAM, BY VEHICLE TYPE, $M (2021–2030)
TABLE 23 SINGAPORE MICROMOBILITY TAM, BY MODEL, $M (2015–2020)
TABLE 24 SINGAPORE MICROMOBILITY TAM, BY MODEL, $M (2021–2030)
TABLE 25 SINGAPORE MICROMOBILITY TAM, BY SHARING SYSTEM, $M (2015–2020)
TABLE 26 SINGAPORE MICROMOBILITY TAM, BY SHARING SYSTEM, $M (2021–2030)
TABLE 27 LIST OF MARKET PLAYERS AND THEIR OFFERINGS
TABLE 28 LIST OF KEY MICROMOBILITY PLAYERS AND TOTAL FUNDING RAISED (AS OF JUNE 2021)
TABLE 29 LIST OF MAJOR MANUFACTURERS AND THEIR PRODUCT OFFERINGS
TABLE 30 SG BIKE PTE LTD – AT A GLANCE
TABLE 31 MOOV TECHNOLOGY (S) PTE LTD. – AT A GLANCE
TABLE 32 BEAM MOBILITY HOLDINGS PTE. LTD. – AT A GLANCE
TABLE 33 GRAB HOLDINGS INC. – AT A GLANCE
TABLE 34 NIU TECHNOLOGIES – AT A GLANCE
TABLE 35 NIU TECHNOLOGIES – KEY FINANCIAL SUMMARY
TABLE 36 NINGBO MYWAY INTELLIGENT TECHNOLOGY CO. LTD. – AT A GLANCE
TABLE 37 SEGWAY INC. – AT A GLANCE

LIST OF FIGURES

FIG 1 MARKET SIZE BREAKDOWN BY SEGMENT
FIG 2 RESEARCH METHODOLOGY
FIG 3 BREAKDOWN OF PRIMARY RESEARCH, BY INDUSTRY PARTICIPANT
FIG 4 BREAKDOWN OF PRIMARY RESEARCH, BY DESIGNATION
FIG 5 BOTTOM-UP APPROACH FOR MARKET SIZE CALCULATION
FIG 6 TAM CALCULATION METHODOLOGY
FIG 7 MICROMOBILITY SHIFT MODELING METHODOLOGY FACTORS
FIG 8 DATA TRIANGULATION APPROACH
FIG 9 SINGAPORE MICROMOBILITY MARKET SUMMARY
FIG 10 VOICE OF INDUSTRY EXPERTS/KOLS
FIG 11 SINGAPORE TOTAL POPULATION IN MILLIONS
FIG 12 SINGAPORE TOTAL PASSENGER AND COMMERCIAL VEHICLE – VEHICLE IN USE (THOUSAND UNITS)
FIG 13 MICROMOBILITY VEHICLE CLASSIFICATION
FIG 14 SINGAPORE MICROMOBILITY MARKET SNAPSHOT
FIG 15 SINGAPORE MICROMOBILITY FLEET SIZE AND FORECAST, ‘000 UNITS (2019–2030)
FIG 16 SINGAPORE MICROMOBILITY MARKET, $M (2019–2030)
FIG 17 SINGAPORE MICROMOBILITY MARKET SIZE, BY VEHICLE TYPE, $M (2019–2030)
FIG 18 SINGAPORE MICROMOBILITY MARKET SIZE, BY MODEL, $M (2019–2030)
FIG 19 SINGAPORE MICROMOBILITY MARKET SIZE, BY SHARING SYSTEM, $M (2019–2030)
FIG 20 SINGAPORE MICROMOBILITY TAM, BY VEHICLE TYPE, $M (2015–2030)
FIG 21 SINGAPORE MICROMOBILITY TAM, BY MODEL, $M (2015–2030)
FIG 22 SINGAPORE MICROMOBILITY TAM, BY SHARING SYSTEM, $M (2015–2030)
FIG 23 NIU TECHNOLOGIES – REVENUE SPLIT BY PRODUCT CATEGORY AND GEOGRAPHY (2020)"