Singapore EV Shared Mobility and Charging Market

Singapore EV shared mobility and charging market is valued at USD 1.2 Bn, with growth fueled by eco-awareness and policies targeting 60,000 charging points by 2030.

Region:Asia

Author(s):Dev

Product Code:KRAB5512

Pages:81

Published On:October 2025

About the Report

Base Year 2024

Singapore EV Shared Mobility and Charging Market Overview

  • The Singapore EV Shared Mobility and Charging Market is valued at USD 1.2 billion, based on a five-year historical analysis. This growth is primarily driven by government initiatives promoting electric vehicle adoption, increasing environmental awareness among consumers, and advancements in charging infrastructure. The market has seen a significant rise in electric vehicle registrations, reflecting a shift towards sustainable transportation solutions.
  • Singapore is a dominant player in the EV shared mobility and charging market due to its robust urban infrastructure, government support for green initiatives, and a high density of electric vehicle users. The city-state's strategic location and commitment to reducing carbon emissions have made it a hub for electric mobility solutions, attracting both local and international players in the industry.
  • In 2023, the Singapore government implemented the Electric Vehicle (EV) Charging Bill, which mandates that all new buildings with car parks must install EV charging points. This regulation aims to enhance the availability of charging infrastructure, thereby encouraging the adoption of electric vehicles and supporting the country's goal of having 60,000 charging points by 2030.
Singapore EV Shared Mobility and Charging Market Size

Singapore EV Shared Mobility and Charging Market Segmentation

By Type:The market is segmented into various types of electric vehicles, including electric cars, electric bicycles, electric scooters, electric vans, and others. Among these, electric cars are the most popular due to their versatility and increasing consumer preference for personal mobility solutions. Electric bicycles and scooters are also gaining traction, particularly in urban areas, as they offer convenient and eco-friendly alternatives for short-distance travel.

Singapore EV Shared Mobility and Charging Market segmentation by Type.

By End-User:The end-user segmentation includes individual consumers, corporate fleets, government agencies, and ride-sharing services. Individual consumers dominate the market as they increasingly opt for electric vehicles for personal use, driven by incentives and environmental concerns. Corporate fleets are also significant, as businesses seek to reduce their carbon footprint and operational costs through electric vehicle adoption.

Singapore EV Shared Mobility and Charging Market segmentation by End-User.

Singapore EV Shared Mobility and Charging Market Competitive Landscape

The Singapore EV Shared Mobility and Charging Market is characterized by a dynamic mix of regional and international players. Leading participants such as Grab Holdings Inc., ComfortDelGro Corporation Limited, BlueSG, SP Group, GoJek, Carousell, ST Engineering, Charge+, NCS Group, Shell Singapore, Tesla, Inc., Hyundai Motor Company, BMW Group, Nissan Motor Corporation, Volkswagen AG contribute to innovation, geographic expansion, and service delivery in this space.

Grab Holdings Inc.

2012

Singapore

ComfortDelGro Corporation Limited

2003

Singapore

BlueSG

2017

Singapore

SP Group

2016

Singapore

Shell Singapore

1891

Singapore

Company

Establishment Year

Headquarters

Group Size (Large, Medium, or Small as per industry convention)

Revenue Growth Rate

Market Penetration Rate

Customer Retention Rate

Average Revenue Per User (ARPU)

Fleet Utilization Rate

Singapore EV Shared Mobility and Charging Market Industry Analysis

Growth Drivers

  • Increasing Government Support for EV Adoption:The Singapore government has committed to investing SGD 1.5 billion (approximately USD 1.1 billion) in electric vehicle (EV) initiatives by 2030. This includes subsidies for EV purchases and incentives for charging infrastructure development. The Land Transport Authority aims to install 60,000 charging points by 2030, significantly enhancing accessibility and convenience for EV users. Such robust governmental backing is crucial for accelerating EV adoption among consumers and businesses alike.
  • Rising Environmental Awareness Among Consumers:A recent survey indicated that 78% of Singaporeans are concerned about climate change, driving demand for sustainable transportation options. The increasing awareness of carbon footprints and air quality issues has led to a surge in interest in EVs. As more consumers prioritize eco-friendly choices, the market for EV shared mobility is expected to expand, with an estimated 20,000 EVs projected to be on the road in the future, reflecting this shift in consumer behavior.
  • Expansion of Charging Infrastructure:Singapore's charging infrastructure is set to grow significantly, with plans for 60,000 charging points by 2030. As of now, there are approximately 2,000 public charging stations, a number expected to increase by 30% annually. This expansion is vital for alleviating range anxiety among potential EV users, thereby fostering greater adoption of electric vehicles in shared mobility services, which is projected to reach 15% of the total vehicle fleet in the future.

Market Challenges

  • High Initial Investment Costs:The average cost of an electric vehicle in Singapore is around SGD 100,000 (approximately USD 73,000), which is significantly higher than traditional vehicles. This high upfront cost can deter potential buyers, particularly in a market where price sensitivity is prevalent. Additionally, the installation of charging infrastructure incurs substantial costs, which can hinder the growth of EV shared mobility services in the short term, limiting market penetration.
  • Limited Consumer Awareness:Despite growing interest, a significant portion of the population remains unaware of the benefits and functionalities of EVs. A recent study revealed that only 45% of Singaporeans could accurately identify the advantages of electric vehicles. This lack of awareness can impede the adoption of EV shared mobility solutions, as consumers may hesitate to transition from traditional vehicles without a clear understanding of the benefits, including cost savings and environmental impact.

Singapore EV Shared Mobility and Charging Market Future Outlook

The future of the Singapore EV shared mobility and charging market appears promising, driven by increasing government initiatives and consumer demand for sustainable transport solutions. In the future, the integration of smart technologies and renewable energy sources is expected to enhance the efficiency of EV operations. Additionally, the rise of autonomous electric vehicles could revolutionize shared mobility, making it more accessible and convenient. As infrastructure continues to develop, the market is poised for significant growth, aligning with global sustainability goals.

Market Opportunities

  • Growth in Ride-Sharing Services:The ride-sharing sector in Singapore is projected to grow by 25% annually, creating a substantial opportunity for EV integration. As companies like Grab and Gojek expand their fleets, the demand for electric vehicles will increase, promoting a shift towards greener transportation options and enhancing the overall market for EV shared mobility.
  • Partnerships with Technology Providers:Collaborations with tech firms can lead to innovative solutions in EV charging and fleet management. In the future, partnerships with companies specializing in smart grid technology and AI-driven analytics are expected to optimize charging efficiency and user experience, further driving the adoption of EVs in shared mobility services.

Scope of the Report

SegmentSub-Segments
By Type

Electric Cars

Electric Bicycles

Electric Scooters

Electric Vans

Others

By End-User

Individual Consumers

Corporate Fleets

Government Agencies

Ride-Sharing Services

By Charging Type

Fast Charging

Slow Charging

Wireless Charging

Others

By Service Model

Subscription Services

Pay-Per-Use

Fleet Management Services

Others

By Distribution Channel

Online Platforms

Physical Dealerships

Direct Sales

Others

By Geographic Coverage

Urban Areas

Suburban Areas

Rural Areas

Others

By Price Range

Budget Segment

Mid-Range Segment

Premium Segment

Others

Key Target Audience

Investors and Venture Capitalist Firms

Government and Regulatory Bodies (e.g., Land Transport Authority, Energy Market Authority)

Electric Vehicle Manufacturers

Charging Infrastructure Providers

Fleet Operators and Mobility Service Providers

Real Estate Developers and Property Management Firms

Telecommunications Companies

Environmental NGOs and Advocacy Groups

Players Mentioned in the Report:

Grab Holdings Inc.

ComfortDelGro Corporation Limited

BlueSG

SP Group

GoJek

Carousell

ST Engineering

Charge+

NCS Group

Shell Singapore

Tesla, Inc.

Hyundai Motor Company

BMW Group

Nissan Motor Corporation

Volkswagen AG

Table of Contents

Market Assessment Phase

1. Executive Summary and Approach


2. Singapore EV Shared Mobility and Charging Market Overview

2.1 Key Insights and Strategic Recommendations

2.2 Singapore EV Shared Mobility and Charging Market Overview

2.3 Definition and Scope

2.4 Evolution of Market Ecosystem

2.5 Timeline of Key Regulatory Milestones

2.6 Value Chain & Stakeholder Mapping

2.7 Business Cycle Analysis

2.8 Policy & Incentive Landscape


3. Singapore EV Shared Mobility and Charging Market Analysis

3.1 Growth Drivers

3.1.1 Increasing Government Support for EV Adoption
3.1.2 Rising Environmental Awareness Among Consumers
3.1.3 Expansion of Charging Infrastructure
3.1.4 Technological Advancements in EVs

3.2 Market Challenges

3.2.1 High Initial Investment Costs
3.2.2 Limited Consumer Awareness
3.2.3 Competition from Traditional Vehicles
3.2.4 Infrastructure Development Delays

3.3 Market Opportunities

3.3.1 Growth in Ride-Sharing Services
3.3.2 Partnerships with Technology Providers
3.3.3 Expansion into New Urban Areas
3.3.4 Development of Smart Charging Solutions

3.4 Market Trends

3.4.1 Shift Towards Sustainable Mobility Solutions
3.4.2 Integration of EVs with Renewable Energy Sources
3.4.3 Rise of Autonomous Electric Vehicles
3.4.4 Increased Focus on User Experience and Convenience

3.5 Government Regulation

3.5.1 Emission Standards for Vehicles
3.5.2 Incentives for EV Purchases
3.5.3 Regulations on Charging Infrastructure
3.5.4 Policies Promoting Public Transport Electrification

4. SWOT Analysis


5. Stakeholder Analysis


6. Porter's Five Forces Analysis


7. Singapore EV Shared Mobility and Charging Market Market Size, 2019-2024

7.1 By Value

7.2 By Volume

7.3 By Average Selling Price


8. Singapore EV Shared Mobility and Charging Market Segmentation

8.1 By Type

8.1.1 Electric Cars
8.1.2 Electric Bicycles
8.1.3 Electric Scooters
8.1.4 Electric Vans
8.1.5 Others

8.2 By End-User

8.2.1 Individual Consumers
8.2.2 Corporate Fleets
8.2.3 Government Agencies
8.2.4 Ride-Sharing Services

8.3 By Charging Type

8.3.1 Fast Charging
8.3.2 Slow Charging
8.3.3 Wireless Charging
8.3.4 Others

8.4 By Service Model

8.4.1 Subscription Services
8.4.2 Pay-Per-Use
8.4.3 Fleet Management Services
8.4.4 Others

8.5 By Distribution Channel

8.5.1 Online Platforms
8.5.2 Physical Dealerships
8.5.3 Direct Sales
8.5.4 Others

8.6 By Geographic Coverage

8.6.1 Urban Areas
8.6.2 Suburban Areas
8.6.3 Rural Areas
8.6.4 Others

8.7 By Price Range

8.7.1 Budget Segment
8.7.2 Mid-Range Segment
8.7.3 Premium Segment
8.7.4 Others

9. Singapore EV Shared Mobility and Charging Market Competitive Analysis

9.1 Market Share of Key Players

9.2 Cross Comparison of Key Players

9.2.1 Company Name
9.2.2 Group Size (Large, Medium, or Small as per industry convention)
9.2.3 Revenue Growth Rate
9.2.4 Market Penetration Rate
9.2.5 Customer Retention Rate
9.2.6 Average Revenue Per User (ARPU)
9.2.7 Fleet Utilization Rate
9.2.8 Charging Station Availability
9.2.9 Pricing Strategy
9.2.10 Customer Satisfaction Score

9.3 SWOT Analysis of Top Players

9.4 Pricing Analysis

9.5 Detailed Profile of Major Companies

9.5.1 Grab Holdings Inc.
9.5.2 ComfortDelGro Corporation Limited
9.5.3 BlueSG
9.5.4 SP Group
9.5.5 GoJek
9.5.6 Carousell
9.5.7 ST Engineering
9.5.8 Charge+
9.5.9 NCS Group
9.5.10 Shell Singapore
9.5.11 Tesla, Inc.
9.5.12 Hyundai Motor Company
9.5.13 BMW Group
9.5.14 Nissan Motor Corporation
9.5.15 Volkswagen AG

10. Singapore EV Shared Mobility and Charging Market End-User Analysis

10.1 Procurement Behavior of Key Ministries

10.1.1 Budget Allocation for EV Initiatives
10.1.2 Decision-Making Processes
10.1.3 Collaboration with Private Sector

10.2 Corporate Spend on Infrastructure & Energy

10.2.1 Investment in Charging Stations
10.2.2 Budget for EV Fleet Acquisition
10.2.3 Energy Management Solutions

10.3 Pain Point Analysis by End-User Category

10.3.1 Cost of Ownership
10.3.2 Availability of Charging Infrastructure
10.3.3 Maintenance and Support Services

10.4 User Readiness for Adoption

10.4.1 Awareness of EV Benefits
10.4.2 Willingness to Switch from Traditional Vehicles
10.4.3 Perceived Barriers to Adoption

10.5 Post-Deployment ROI and Use Case Expansion

10.5.1 Evaluation of Cost Savings
10.5.2 Expansion of Use Cases for EVs
10.5.3 Long-Term Sustainability Considerations

11. Singapore EV Shared Mobility and Charging Market Future Size, 2025-2030

11.1 By Value

11.2 By Volume

11.3 By Average Selling Price


Go-To-Market Strategy Phase

1. Whitespace Analysis + Business Model Canvas

1.1 Identification of Market Gaps

1.2 Value Proposition Development

1.3 Revenue Streams Analysis

1.4 Cost Structure Evaluation

1.5 Key Partnerships Identification

1.6 Customer Segmentation

1.7 Channels for Delivery


2. Marketing and Positioning Recommendations

2.1 Branding Strategies

2.2 Product USPs


3. Distribution Plan

3.1 Urban Retail vs Rural NGO Tie-ups


4. Channel & Pricing Gaps

4.1 Underserved Routes

4.2 Pricing Bands


5. Unmet Demand & Latent Needs

5.1 Category Gaps

5.2 Consumer Segments


6. Customer Relationship

6.1 Loyalty Programs

6.2 After-sales Service


7. Value Proposition

7.1 Sustainability

7.2 Integrated Supply Chains


8. Key Activities

8.1 Regulatory Compliance

8.2 Branding

8.3 Distribution Setup


9. Entry Strategy Evaluation

9.1 Domestic Market Entry Strategy

9.1.1 Product Mix
9.1.2 Pricing Band
9.1.3 Packaging

9.2 Export Entry Strategy

9.2.1 Target Countries
9.2.2 Compliance Roadmap

10. Entry Mode Assessment

10.1 JV

10.2 Greenfield

10.3 M&A

10.4 Distributor Model


11. Capital and Timeline Estimation

11.1 Capital Requirements

11.2 Timelines


12. Control vs Risk Trade-Off

12.1 Ownership vs Partnerships


13. Profitability Outlook

13.1 Breakeven Analysis

13.2 Long-term Sustainability


14. Potential Partner List

14.1 Distributors

14.2 JVs

14.3 Acquisition Targets


15. Execution Roadmap

15.1 Phased Plan for Market Entry

15.1.1 Market Setup
15.1.2 Market Entry
15.1.3 Growth Acceleration
15.1.4 Scale & Stabilize

15.2 Key Activities and Milestones

15.2.1 Milestone Planning
15.2.2 Activity Tracking

Research Methodology

ApproachModellingSample

Phase 1: Approach1

Desk Research

  • Analysis of government reports on electric vehicle (EV) adoption and infrastructure development in Singapore
  • Review of industry publications and market analysis reports focusing on shared mobility and EV charging trends
  • Examination of academic studies and white papers on consumer behavior towards EVs and shared mobility solutions

Primary Research

  • Interviews with key stakeholders in the EV charging infrastructure sector, including operators and technology providers
  • Surveys conducted with users of shared mobility services to understand preferences and usage patterns
  • Focus group discussions with urban planners and policymakers regarding the future of EV shared mobility in Singapore

Validation & Triangulation

  • Cross-validation of findings through comparison with international case studies on EV shared mobility
  • Triangulation of data from government sources, industry reports, and primary research insights
  • Sanity checks through expert panel reviews involving industry veterans and academic experts

Phase 2: Market Size Estimation1

Top-down Assessment

  • Estimation of the total addressable market for EV shared mobility based on national transportation statistics
  • Segmentation of the market by user demographics, vehicle types, and service models
  • Incorporation of government incentives and policies promoting EV adoption and shared mobility

Bottom-up Modeling

  • Collection of data on the number of EVs in shared mobility fleets and their utilization rates
  • Operational cost analysis based on charging infrastructure and maintenance expenses
  • Revenue projections based on pricing models for shared mobility services and charging fees

Forecasting & Scenario Analysis

  • Development of forecasting models using historical growth rates and projected EV adoption trends
  • Scenario analysis based on varying levels of government support and consumer acceptance of EVs
  • Creation of baseline, optimistic, and pessimistic forecasts through 2030

Phase 3: CATI Sample Composition1

Scope Item/SegmentSample SizeTarget Respondent Profiles
Shared Mobility Users150Frequent Users, Occasional Users, Non-Users
EV Charging Infrastructure Providers100Business Development Managers, Operations Directors
Urban Mobility Planners80City Planners, Transportation Policy Analysts
Government Officials60Transport Ministry Representatives, Regulatory Authorities
Environmental NGOs50Sustainability Advocates, Policy Advisors

Frequently Asked Questions

What is the current value of the Singapore EV Shared Mobility and Charging Market?

The Singapore EV Shared Mobility and Charging Market is valued at approximately USD 1.2 billion, reflecting significant growth driven by government initiatives, environmental awareness, and advancements in charging infrastructure.

What government initiatives support electric vehicle adoption in Singapore?

How many electric vehicles are projected to be on the road in Singapore in the future?

What types of electric vehicles are popular in Singapore's shared mobility market?

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