Scooter Sharing Market to Gain Momentum

The growing population is leading to the rising number of vehicles, especially in the big cities. This is creating a problem, as with the number of vehicles increasing faster than new roads being constructed, the available driving space is becoming more congested every year. The major culprits behind these are four-wheelers, including cars, trucks, and buses, which take up a significant space on the roads. To tackle this problem, governments around the world are not only encouraging people to use two-wheelers as much as they can but also share one, if possible.

Scooter Sharing Market Research Report | P&S Intelligence

Therefore, due to government efforts, P&S Intelligence expects the scooter sharing market to grow from $99.8 million in 2018 to $553.0 million by 2025, at a massive 24.4% CAGR between 2019 and 2025. Scooters already have a long-standing presence in countries such as India, China, and Italy, and they are now gaining popularity in many other countries, such as France, Germany, Taipei, and Spain. These vehicles are small and easy to maintain and ideal for covering short distances, usually up to 5 miles (around 8 km).

Another reason for the rising popularity of scooter sharing services is that they are a lot cost-effective than owning the vehicle. By opting for the sharing service, people do not have to purchase their own scooter and pay the hefty fuel, maintenance, parking, and insurance prices, as all these expenses are borne by the service provider. In addition, shared scooters are available almost round the clock, with the user just having to download the mobile app or visit the website of the service provider.

Considering the convenience these services offer, people are using them for one-way and round trips, more so for one-way travel. Scooter sharing has become a popular way to commute between the home/college/office and metro station, bus stop, and other rapid transit stations. In addition, many are availing of these services to visit their near and dear ones, which is further encouraging service providers to expand their reach. With time, as more people realize the benefits of scooter sharing, this service is expected to be availed of a lot more for round trips as well.

Seeing the success of the scooter sharing concept and its future potential, service providers are looking to widen their avenues by offering more than just one type of shared mobility service. For instance, apart from scooter sharing, Swiss Mobility also offers carsharing services, while Scoot provides shared bikes (bicycles) and kick scooters too. A key factor enabling companies to offer all these services is the heavy investment they are receiving. For instance, Cityscoot received a $50-million (EUR 42.4-million) funding in 2018, while Yugo received $475 thousand (EUR 402 thousand).

Presently, Europe is the largest scooter sharing market, as the urban road congestion here is pushing governments to encourage people to shift to shared mobility instead of taking their own vehicles out. Moreover, with most regional countries bound by the Paris Agreement, they are doing more than those in other regions to reduce their carbon emissions, which is why they are impelling service providers to add electric scooters to their fleet. Moreover, several European countries already have a rich scooter culture, and by 2018, there were more than 20,000 of these in public sharing fleets.

Apart from Europe, these services are also gaining rapid ground in Asia-Pacific (APAC), which is home to some of the most-polluted cities in the world. The popularity of these services has grown so much in the region in recent times that by 2019, with 20,000 scooters, India’s shared scooter fleet surpassed that of all other counties on earth! Due to government initiatives and the rising demand for cost-effective and clean public transportation, the youth of India has become strongly attracted to this concept.

Therefore, with the increasing awareness about carbon emissions leading to a rise in the investments being received by scooter sharing companies, the access to their services will definitely widen in the years to come.

Content Publisher

Central Europe Heavy Ground Transportation Vehicles Market Will Hit Big Revenues in Future

In 2021, the Western European heavy ground transportation vehicles market valued $155.4 billion, which is expected to increase to $271.5 billion by 2030, at a 6.4% CAGR.

A lot of people from bordering countries come to France to explore its iconic monuments, taste its fine wines, wander in its beautiful countryside, and partake in its haute cuisine, thereby driving the demand for transit buses in Western Europe at a high rate. Although the bus market in the region is small presently, it offers lucrative opportunities to OEMs, component providers, and aftermarket firms, especially with the advent of autonomous and electric buses. Hence, seeing the potential increase in the demand for buses and trucks in Central and Western Europe, automakers have started launching new models with advanced technologies, to suit various industrial and commercial purposes.

Central Europe Heavy Ground Transportation Vehicles Market 

On the other hand, the Central European heavy ground transportation vehicles market revenue is predicted to witness a CAGR of 5.0%, to grow from $42.9 billion in 2021 to $66.6 billion by 2030.

A key driver for truck sales in the central part of the continent is, therefore, a massive increase in domestic and cross-border trade. For instance, Poland extensively trades with neighboring countries, including Germany, the U.K., the Czech Republic, France, and Italy, which is why the demand for trucks here is rather high. To cater to the rising demand for freight transportation, OEMs are introducing new technologies in trucks, such as autonomous driving, electric propulsion, and automatic transmission.

Additionally, trucks have dominated the European heavy ground transportation vehicles market in both its western and central parts, as they are essential for trade. In this regard, the rapid industrialization and urbanization are the major reasons behind the growing demand for heavy land transportation vehicles in Western and Central Europe, as they are driving an increase in the population and construction, industrial, and trading activities. Trucks not only help in the transportation of finished goods across borders, but also for bringing material to and from construction, mining, industrial, and many other sites.

Thus, with the construction and industrial boom in the region, the demand for trucks for various purposes is burgeoning. However, these activities lead to a rise in the emission of GHGs, which is why governments in the region are implementing stringent emission control laws and launching initiatives to boost the shift to alternative fuels. This is why while conventional buses and trucks currently dominate the European heavy ground transportation vehicles market, in the coming years, the sale of electric variants will rise fast.

Alstom Holdings, Hitachi Ltd., CRRC Corporation Limited, Stadler Rail AG, Wabtec Corporation, Siemens Aktiengesellschaft, CNH Industrial N.V., Mercedes-Benz Group AG, AB Volvo, Traton Group, CAF Construcciones y Auxiliar de Ferrocarriles S.A., PACCAR Inc., Mitsubishi Fuso Truck and Bus Corporation, BYD Motors Inc., VDL Bus & Coach B.V., Toyota Industries Corporation, Stellantis N.V., and SAIC Motor Corporation Limited are among the biggest companies offering trucks and buses in Western and Central Europe.

Singapore Micromobility Market Likely to Enjoy Explosive Growth in Years to Come

The Singapore micromobility market reached a revenue of $15.8 million in 2020, and it is predicted to demonstrate a CAGR of 64.2% from 2021 to 2030 (forecast period). Furthermore, the market will attain a value of $1,817.9 million by 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the burgeoning requirement for efficient transportation systems for short-distance commute, unfavorable automobile ownership regulations in several countries, and increasing road congestion, especially in urban areas. 

Singapore is a tiny country, with an area of only 728.6-square-km. As a result, the booming population and the surging number of vehicles are causing road congestion, especially in the major cities. Owing to this reason, the government is using the policy of bidding via which citizens are being granted a certificate of entitlement, which permits them to own a vehicle for only 10 years. Moreover, the cost of buying a personal vehicle is quite high in the country, because of the high import charges and the existence of the bidding process. 

Depending on vehicle type, the market is divided into e-bikes, e-pods, e-mopeds, e-scooters, scooters, and bikes. Amongst these, the e-scooters category is predicted to hold the largest share in the Singapore micromobility market during the forecast period. This will be because of the ability of e-scooter sharing services to solve the issue of first- and last-mile connectivity, unlike the other public transportation services in the country. When model is taken into consideration, the micromobility market is classified into multimodal and first- and last-mile. 

Of these, the dockless sharing system category is predicted to exhibit faster growth in the market in the coming years. The implementation of favorable government policies, soaring popularity of bikes, and the greater convenience provided by the vehicles under this sharing system in comparison to the vehicles under the docked system, are driving the advancement of this category in the market. The players operating in the industry are focusing on partnerships and collaborations in order to remain competitive and gain an edge over their rivals. 

Hence, it can be safely said that the market will demonstrate rapid expansion in the coming years, mainly because of the surging requirement for improved first- and last-mile connectivity, increasing road congestion, and unfavorable automobile ownership laws in the country. 

Salesforce Services Market Estimated To Expand At A Robust CAGR Over 2030

In today’s world of fierce competition, just coming up with unique products and creative marketing campaigns is not enough for companies. They also need to implement a strong focus on client satisfaction and retention and analysis of how well their marketing campaigns are faring. Moreover, with the rising penetration of smartphones and the internet, more people are using mobile and computer applications to interact with companies, which is why app development has become such a lucrative occupation.

Salesforce Services Market Report

According to P&S Intelligence, the increasing awareness of companies on all these areas is the key factor that will drive the salesforce services market to $55,307.6 million by 2030 from $9,124.2 million in 2019, at an 18.9% CAGR between 2020 and 2030. Salesforce refers to customer relationship management (CRM) solutions that help firms manage their customer service, sales, marketing, e-commerce, application development, and analytics processes. They allow companies to monitor the customer behavior and offer personalized recommendations, analyze the impact of their marketing activities, forecast sales, manage leads, store and process internet of things (IoT) data, and automate repetitive tasks.

Salesforce service solutions are being widely used in the retail & e-commerce, banking, financial services, and insurance (BFSI), IT & telecom, healthcare, government, and manufacturing sectors. Among these, these solutions find the highest adoption in the BFSI industry, which is constantly making efforts to connect with the young and tech-savvy customers digitally. Moreover, companies in the industry are deploying salesforce solutions to get an in-depth insight into customers’ accounts and queries and engage with the latter better.

The burgeoning adoption of the cloud is one of the biggest reasons the salesforce services market generates the highest revenue from North America. In addition, the continent is home to the world’s largest IT industry, which results in both the easy availability and high demand for such solutions. North America is also generally the first region to adopt emerging technologies, especially those related to the IT field. In the coming years though, the fastest rise in the adoption of salesforce services would be seen in Asia-Pacific (APAC), owing to economic growth, increasing preference for cutting-edge technologies, and expanding BFSI sector.

Therefore, as enterprises across industries indulge in even fiercer competition, they will likely procure software and apps that help make their business process smoother and more efficient.

Scooter Sharing Industry Set to Flourish in Future

The increasing population in many cities around the world is causing a sharp surge in the number of daily commuters, which, in turn, is leading to road congestion, especially during peak hours of the day. One of the most effective solutions to the problem is to increase the adoption of various ride-sharing services such as scooter sharing services. As a result, the governments of several countries are rapidly implementing regulations and policies for promoting the adoption of scooter-sharing services.

As scooters are smaller and have more compact sizes than other vehicles the increasing adoption of scooter-sharing services plays a pivotal role in reducing road congestion, which subsequently reduces the prevalence of road accidents. In addition to this, the deployment of ride-sharing services greatly reduces the number of vehicles running on the roads, which leads to a significant reduction in greenhouse gas emissions. At a time when air pollution is increasing at an alarming rate in several cities, the adoption of ride-sharing services is turning out to be a great method for mitigating environmental degradation.

The other important factor fueling the demand for scooter sharing services is the greater convenience offered by these services in comparison to the privately owned vehicles. This is because the ownership of a vehicle massively increases a person’s expenses, on account of the vehicle’s fuel costs, maintenance charges, parking expenses, insurance cover, and many other costs. Furthermore, the development of advanced mobile applications has boosted the convenience of the scooter sharing services, as these services can now be easily availed with just a few finger taps.

Because of the aforementioned reasons, the popularity of scooter-sharing services is increasing rapidly throughout the world. As a result, the global scooter sharing market is predicted to exhibit rapid progress in the future years. These services are availed for both one-way and round trips. Of these, the adoption of the scooter sharing services for one-way trips was higher in the past and this trend is predicted to be seen during the coming years as well.

Globally, the scooter sharing market will demonstrate the highest growth in Europe in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. This is attributed to the rising road congestion in major European cities and increasing greenhouse gas emissions in the region. In addition to this, many European countries such as Germany, France, and Spain are rapidly adopting scooter sharing services for reducing road congestion in the urban areas, which is, in turn, propelling the growth of the market in the region.

Therefore, it can be safely said that the demand for scooter sharing services will increase massively all over the world in the near future, mainly because of the increasing road congestion in urban areas, rising incidence of road accidents, high expenses associated with the ownership of vehicles, and the greater convenience offered by these services in comparison to personal vehicles.

Electric Aircraft Market Set to Flourish in Future

With the surging air pollution levels and rising carbon emissions, the governments of many countries are focusing on promoting the adoption of electric aircrafts. Moreover, the increasing implementation of regulatory environment regulations and carbon emission policies in several countries is also fueling the demand for electric aircrafts. For instance, Norway is aiming to deploy aircrafts powered by electricity in order to mitigate the emission of greenhouse gases by 2040. In addition, the Government of Norway wants aircraft manufacturing companies to manufacture a 30-seat airliner powered by electric motors, that can be officially launched by 2025.

Similarly, a JetBlue Airways, Zunum Aero, and Boeing Co. backed startup announced in May 2018 that it intends to launch its first hybrid-electric plane by 2022. Furthermore, the rising number of airline passengers is also positively impacting the worldwide requirement for aircrafts that are easier to maneuver, safer, and create less noise. Besides these factors, the lower cost of ownership of electric aircrafts is also fueling the expansion of the global electric aircraft market.

Geographically, the deployment of these aircrafts is expected to rise considerably in North America in the forthcoming years, with the U.S. predicted to become the largest electric aircraft market in the upcoming years. The Environmental Protection Agency (EPA) has recently laid down regulations pertaining to the emission of greenhouse gases by aircrafts. Moreover, the increasing research activities and rapid technological advancements are also expected to fuel the demand for electric aircrafts in the country in the upcoming years.

With the enactment of such strict regulations by the governments of other countries, the sales of electric aircrafts are surging sharply. This is also encouraging original equipment manufacturers (OEMs) to penetrate newer markets in both developing and developed nations. In addition, the burgeoning requirement for the adoption of fuel cells in electric aircrafts, advent of technologically advanced battery parts and materials, and emergence of next-generation asynchronous propeller technology in order to cater to the needs of consumers are predicted to push up the sales of electric aircrafts in the coming years.

Hence, it can be safely said that the demand for electric aircrafts will rise enormously in the coming years, mainly because of the burgeoning need for environment-friendly aircrafts all over the world.

Injector Nozzle Market Set to Flourish in Future

An injector nozzle is used to inject the prescribed volume of fuel inside the combustion chamber after receiving a signal from electronic sensors in the automobile. The fuel enters the nozzle at a high pressure, which is then passed through extra thrust into the engine cylinder. The fuel is injected in the nozzle in the form of spray. As injector nozzles help in reducing emission from the engine and maintaining the engine performance, nozzle shape, injector sac, injector seat, and size of the nozzle hole are precisely monitored while making them.

Automakers around the world are increasingly installing injector nozzles in their offerings to comply with the toughening vehicle emission standards, owing to which, the injector nozzle market will prosper in the upcoming years. For instance, the Euro 6 standards caused a sharp reduction in nitrogen oxides (NOx) emission from light-duty vehicles from 2.0 g/kWh to 0.4 g/kWh in steady-state testing and from 2.0 g/kWh to 0.46 g/kWh in transient testing. 

According to P&S Intelligence, the North American injector nozzle market advanced at the highest rate in the preceding years due to the huge requirement for domestic vehicles in the region. Moreover, the toughening emission laws of the U.S. will also encourage the integration of injector nozzles in automobiles in the region. For instance, the U.S. Environmental Protection Agency (EPA) has laid down the Heavy-Duty Highway Engine: Clean Fuel Fleet Exhaust Emission Standards and Phase 1 Greenhouse Gas Emission Standards and Fuel Efficiency Standards for Medium- and Heavy-Duty Engines and Vehicles to reduce emission from medium- and heavy-duty vehicles.

In the coming years, the demand for injector nozzles is expected to soar in Asia-Pacific (APAC). This will be due to the surging vehicle demand, lowering the production cost of automobile parts, and increasing implementation of stringent emission norms. For instance, according to the OICA, 19,994,081 cars and 5,231,161 commercial vehicles were manufactured in China in 2020. Furthermore, the implementation of emission norms, such as Bharat Stage VI (BS-VI) in India, is resulting in the large-scale installation of injector nozzles in vehicles in the region.

Thus, the increasing implementation of stringent vehicle emission norms and booming automobile sales and production will create a huge requirement for injector nozzles worldwide.