Why Are European Electric Two-Wheeler Sharing Companies Receiving Heavy Funding?

Daily commuters across the globe, including Europe, face numerous problems on the roads. One of the major problems is that of the surging number of vehicles on the roads, which result in road congestion, especially during peak hours. As the disposable income of people has risen significantly in the past few years, owing a vehicle has become quite easy, which has led to an increased number of vehicles on the roads. More than €110 billion annually are spent on road congestion in Europe, which is why the mitigation of this problem is a key concern in the region. 

Therefore, governments of different countries in Europe are looking alternate ways of mobility which can help them deal with this problem. One of such solutions is the introduction of shared mobility services in the region, where the utilization of two-wheelers for sharing services, can effectively aid in reducing the traffic on roads. This mobility option can further prove more convenient for daily commuters as two-wheelers can move ahead in traffic with much more ease than cars. Moreover, two-wheeler sharing services are cost effective and are available 24*7, throughout the year. Because of these advantages, the demand for two-wheeler sharing services in Europe is growing rapidly. 

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As per a P&S Intelligence report, the European electric two-wheeler sharing market is predicted to generate a revenue of $597.2 million by 2025, advancing at a 35.0% CAGR during the forecast period (2019–2025). Two-wheeler sharing services are offered via kick scooters and scooters/mopeds. Between these two, electric scooter/moped were more in demand in the past, as a significant number of companies in Europe offer shared mobility services via these vehicles. The service has been operational in the region since the past five years. Apart from this, companies which offer kick scooter mobility services have also started penetrating the market, which is why the demand for kick scoter services is projected to grow in the coming years.

Electric two-wheeler sharing services can be availed for one-way trip or round trip. The larger demand for these services however was created for one-way trips, which is ascribed to the fact that the services offers convenience and flexibility and the users can drop the vehicles anywhere they want. While in the past Germany was the largest user of two-wheeler sharing services, in 2018, Spain emerged as the largest European electric two-wheeler sharing market. This is due to the significant increase in fleets by key services providers. The demand for these services is also predicted to rise considerably in the U.K. in the coming years. 

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The region is registering a substantial rise in the investments from several top investors across the globe. For example, in 2018, European investors Atomico and Index Ventures invested heavily in two of the top U.S. electric kick scooter sharing companies, Neutron Holdings Inc. (Lime) and Bird Rides Inc. Investments like this are further opening up opportunities for the companies operating in the domain in Europe. 

Hence, the demand for electric two-wheeler sharing services in the region is growing due to the rising road congestion.