Vietnam Micromobility Market Business Insights Report

The Vietnamese micromobility market size was $89.9 million in 2020, and it is predicted to expand to $10,227.2 million by 2030, demonstrating a CAGR of 66.0% during 2021–2030.

The major factors driving the Vietnamese market are:

1. Increasing Road Congestion: With the surging number of vehicles, the occurrence of long traffic jams is rising in Vietnam. In addition, the increasing number of automobiles is responsible for excessive emissions and parking issues. This is pushing up the demand for micromobility, as it massively reduces the usage of personal vehicles for first- and last-mile connectivity, which, in turn, leads to fewer cars on the roads.
2. Economical Nature of Services: The lower costs associated with these sharing services are one of the major factors propelling the expansion of the Vietnamese micromobility market. For instance, a typical e-bike sharing service provider charges an initial fee for unlocking the bike and $0.86 per hour of travel, which is considerably lower than what is charged by conventional shared mobility companies.
3. The COVID-19 pandemic has massively hampered the companies operating in the Vietnamese transportation sector. Moreover, the implementation of the lockdown has caused severe disruptions in the two-wheeler and electronic component supply chain and first- and last-mile connectivity, which has, in turn, affected the progress of the Vietnamese micromobility market. However, with proper contingency planning and situation monitoring, things will improve in the near future, which will fuel the revival of the market.

The dockless category held the larger share in the Vietnamese micromobility market in the past, within the sharing system segment. Many micromobility service providers in the country are focusing on launching dockless systems owing to the fact that they don't have to develop parking stations this way. Moreover, the elimination of docks provides greater user convenience by taking the parking requirements out of the equation.

This study covers

•             Major factors driving the market and their impact during the short, medium, and long terms

•             Market restraints and their impact during the short, medium, and long terms

•             Recent trends and evolving opportunities for the market participants

•             Historical and the present size of the market segments and understand their comparative future potential

•             Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

•             Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders