With the large-scale use of vehicles powered by petrol and diesel, the air pollution levels are rising sharply, which is, in turn, fueling the rapid deterioration of the environment. This is making many governments and environmental protection organizations focus heavily on promoting the adoption of eco-friendly vehicles such as electric two-wheelers. Moreover, the increasing road congestion levels in many urban areas, on account of the booming population and surging number of vehicles, are further boosting the need for vehicle sharing services in Europe.
Apart from being environment-friendly, electric two-wheeler sharing services are also highly convenient for general citizens, especially those who commute daily and thus, need transportation services that are affordable and can be booked easily. Additionally, these services eliminate the requirement for additional expenses such as maintenance costs, insurance claims, and parking charges, which are generally required for owning personal vehicles. When using electric two-wheeler sharing services, users are required to make payments only on the basis of the distance travelled by them.
Due to the aforementioned factors, the demand for these services is growing exponentially in Europe, which is, in turn, causing the expansion of the European electric two-wheeler sharing market. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will rise to $597.2 million by 2025. The market is also predicted to progress at a CAGR of 35.0% from 2018 to 2025. Kick scooters and mopeds/scooters are the two types of two-wheelers commonly used by electric two-wheeler sharing services in the region.
Thus, the demand for electric two-wheeler sharing services will rise enormously in Europe in the coming years, primarily because of the growing requirement for eco-friendly and easy-to-use transportation services, on account of the escalating air pollution levels and surging road congestion in the continent.