Technology

Microcars Market Size to Reach USD 63.99 Billion by 2029: Personal and Commercial Vehicle Demand Surges | Valuates Reports

Published

1 year ago

November 27, 2024

BANGALORE, India, Nov. 27, 2024 /PRNewswire/ — Microcars Market is Segmented by Type (Fuel Cars, Hybrid Cars), by Application (Commercial Cars, Personal Cars): Global Opportunity Analysis and Industry Forecast, 2023-2029.

Microcars Market revenue was USD 53350 Million in 2022 and is forecast to a readjusted size of USD 63990 Million by 2029 with a CAGR of 2.6% during the forecast period (2023-2029).

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Major Factors Driving the Growth of Microcars Market:

The microcars market is expanding rapidly, driven by urbanization, rising fuel costs, and growing demand for sustainable transportation. Key factors include the popularity of fuel-efficient and electric microcars, government incentives, and the rise of car-sharing services. Regional markets, led by Europe and Asia-Pacific, are thriving due to supportive infrastructure and environmental policies. As manufacturers innovate to meet evolving consumer needs, the microcars market is poised for continued growth, catering to a diverse range of applications and demographics.

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TRENDS INFLUENCING THE GROWTH OF THE MICROCARS MARKET:

Fuel cars remain a significant contributor to the growth of the microcars market due to their affordability and reliability. Microcars powered by internal combustion engines are widely preferred in regions with limited charging infrastructure for electric vehicles (EVs). Their compact size and efficient fuel consumption make them ideal for urban commuting, where parking space and maneuverability are essential. The availability of low-cost fuel options and government subsidies for compact, fuel-efficient vehicles in certain regions further support their adoption. Manufacturers continue to innovate by improving engine efficiency and reducing emissions, aligning with global environmental standards. Additionally, the rising demand for affordable vehicles in emerging markets has driven the production of fuel-powered microcars, catering to first-time buyers and budget-conscious consumers. As urbanization and population density increase, fuel-powered microcars offer a practical and economical solution for short-distance travel, ensuring their continued relevance in the global market.

Electric microcars are revolutionizing the microcars market by addressing the growing demand for sustainable urban transportation. With zero emissions and low operating costs, these vehicles align with global efforts to combat climate change and reduce dependency on fossil fuels. Governments worldwide are incentivizing electric vehicle adoption through tax benefits, subsidies, and investments in charging infrastructure, significantly boosting the appeal of electric microcars. Their compact design and electric drivetrains make them ideal for short-distance commuting and navigating congested urban areas. Additionally, advancements in battery technology have improved range and reduced charging times, enhancing the practicality of electric microcars. Urban residents, particularly in Europe and Asia, are increasingly opting for electric microcars as a cost-effective and eco-friendly mode of transportation. As cities prioritize green mobility solutions and consumers embrace sustainable alternatives, the adoption of electric microcars is expected to grow, driving market expansion.

Personal microcars are a key driver of the microcars market, offering convenience and cost-efficiency for individual transportation. These vehicles are designed to meet the needs of urban dwellers who prioritize affordability, ease of parking, and fuel efficiency. Microcars are increasingly popular among younger consumers, retirees, and first-time buyers who seek practical solutions for daily commuting and errands. The rising trend of car-sharing and rental services has also contributed to the demand for personal microcars, as these vehicles are easy to maintain and economical to operate. Manufacturers are introducing stylish, customizable microcars to appeal to diverse consumer preferences, enhancing their market appeal. As urbanization continues to rise and personal mobility becomes a priority, microcars provide an accessible and budget-friendly option for short-distance travel, solidifying their position as a vital segment in the automotive industry.

Rapid urbanization and increasing population density have driven the demand for compact vehicles like microcars. These vehicles are designed to navigate crowded urban areas, offering ease of parking and maneuverability. The need for practical, space-saving transportation solutions in growing cities has made microcars a preferred choice among urban residents. Governments promoting smart city initiatives and sustainable urban planning further support the adoption of microcars, driving market growth.

Increasing fuel costs have encouraged consumers to opt for fuel-efficient vehicles like microcars. These vehicles consume less fuel due to their smaller engines and lightweight design, offering significant cost savings for daily commuting. As fuel prices remain volatile, microcars provide an economical alternative for budget-conscious consumers, boosting their adoption globally. The rise of car-sharing and ride-hailing services has increased the demand for microcars. These vehicles are ideal for shared mobility platforms due to their low maintenance costs and fuel efficiency. The convenience and affordability of car-sharing services have encouraged urban residents to adopt microcars for short-term use, supporting market growth.

Governments worldwide are offering incentives, such as tax reductions and subsidies, to promote the adoption of compact, environmentally friendly vehicles. Microcars benefit from these policies, particularly in regions focusing on reducing traffic congestion and emissions. These incentives make microcars an attractive option for cost-sensitive buyers, driving their market demand.

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MICROCARS MARKET SHARE

Global Microcars key players include Daihatsu, Suzuki Motor, Fiat, Honda, Hyundai, etc. Global top five manufacturers hold a share over 40%.

Europe is the largest market, with a share of about 30%, followed by the USA, and Japan, both have a share of over 35 percent. The microcars market demonstrates distinct regional growth patterns. Europe leads the market due to stringent emissions regulations, extensive EV infrastructure, and the popularity of compact vehicles in urban areas. Asia-Pacific follows closely, driven by rapid urbanization, rising disposable incomes, and government incentives for eco-friendly vehicles. North America is witnessing steady growth, fueled by increasing interest in electric microcars and car-sharing platforms.

In terms of product, Fuel Cars is the largest segment, with a share nearly 90%. And in terms of application, the largest application is Personal, followed by Commercial.

Key Companies:

HyundaiHondaDaihatsuSuzuki MotorMarutiNissanToyota MotorFIATPSADaimler AGRenaultGrecav AutoTata MotorsChanganZotyeSAICCheryBYDGeelyJAC

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

– Motorized Quadricycles market was valued at USD 922 Million in 2023 and is anticipated to reach USD 1452 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.

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– Heavy Quadricycles market was valued at USD 655 Million in 2023 and is anticipated to reach USD 934 Million by 2030, witnessing a CAGR of 5.7% during the forecast period 2024-2030.

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– Electric Dirt Bike Market was estimated to be worth USD 1648 Million in 2023 and is forecast to a readjusted size of USD 2293.3 Million by 2030 with a CAGR of 4.8% during the forecast period 2024-2030.

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Technology

Luxor Expands LuxOS to MicroBT WhatsMiner, and MicroBT Intends for a Strategic Investment

Published

59 minutes ago

April 27, 2026

SEATTLE, April 26, 2026 /PRNewswire/ — Today, Luxor Technology Corporation (“Luxor”) announces the expansion of LuxOS firmware support to MicroBT WhatsMiner series miners, growing the LuxOS ecosystem. In addition, MicroBT, via its investment manager Inflection Technology Limited (“ITL”), has signed a term sheet to make a strategic investment into Luxor. Luxor has also committed to a US$100,000,000 purchase of MicroBT WhatsMiner hardware.

Luxor is working directly with a select group of mining partners to deploy and expand model support over time. With more than 300,000 Bitcoin mining machines already running LuxOS globally, Luxor brings to the WhatsMiner ecosystem the same enterprise-grade firmware infrastructure that large-scale mining operators rely on. MicroBT hardware represents a significant share of global Bitcoin mining capacity, and with this expansion, those operators now have access to flexible firmware features.

WhatsMiner fleets running LuxOS gain access to Power Targeting, Advanced Thermal Management, safe rapid curtailment, and faster ramp-up time — unlocking new capabilities beyond stock settings. Power Targeting delivers consistent, predictable performance across individual machines and makes infrastructure planning easier at scale. When shifting power targets, LuxOS completes the transition in 30-60 seconds while continuing to hash at higher hashrates — capturing additional hashrate. LuxOS also improves ramp-up time across curtailment events, reaching full capacity faster and reducing the unharvested hashrate lost every time machines cycle. Initial support spans select models in the M50 series. For the full list of supported models, visit docs.luxor.tech.

“We are excited to build on the MicroBT WhatsMiner platform. We are consistently impressed by their ability to execute with high-quality machines. Our clients have been asking for WhatsMiner firmware for years, and we have shipped a product that is going to help deliver significant profitability and usability benefits. We are also excited to welcome MicroBT as a strategic investor.”

— Lauren Lin, Head of Hardware and Software of Luxor

“Luxor has continued to be one of MicroBT’s trusted global partners. With their talented engineering team, we are excited they are building on top of the Whatsminer platform. We are happy to be taking a strategic position in Luxor and supporting their continued growth through this hardware partnership.”

— Dr.Yang, CEO and Co-Founder of MicroBT

Operators running LuxOS have access to Luxor’s full-stack mining experience: pool, hashrate derivatives, energy services, and Luxor Commander for fleet management — unified under a single platform. Commander includes Intelligent Miner, which keeps fleets running at peak profitability by continuously adjusting power settings based on real-time hashprice and energy prices.

Luxor is rolling out LuxOS for WhatsMiner in a phased approach, onboarding operations directly to ensure a high-quality deployment experience. Mining operations running WhatsMiner hardware can express interest in access at luxor.tech/contact.

About Luxor Technology Corporation

Luxor delivers hardware, software, and financial services that power the global compute and energy industry. Its product suite spans Bitcoin Mining Pools, ASIC Firmware, Hardware trading, Hashrate Derivatives, Energy services, a Miner Management software, Commander, and a bitcoin mining data platform, Hashrate Index.

If you are interested in contacting Luxor, please email sales@luxor.tech.

View original content:https://www.prnewswire.com/news-releases/luxor-expands-luxos-to-microbt-whatsminer-and-microbt-intends-for-a-strategic-investment-302753797.html

SOURCE Luxor Technology

Technology

GLN Connects to Vietnam’s National QR Network, Enabling Nationwide QR Payments

Published

2 hours ago

April 26, 2026

Direct access to Vietnam’s nationwide QR payment networkEnabling payments via partners’ home-market banking and fintech apps without currency exchange

SEOUL, South Korea, April 26, 2026 /PRNewswire/ — GLN International has launched a nationwide QR payment service in Vietnam in partnership with NAPAS, marking its direct integration into the country’s national QR payment infrastructure.

The service was introduced at a launch ceremony on April 23 in Vietnam, attended by the State Bank of Vietnam (SBV), NAPAS, BIDV, and Hana Bank.

GLN leads the operation of the payment system connected to Vietnam’s national QR network and has driven its technical integration, as part of Hana Financial Group’s cross-border initiatives. Hana Bank participates as the only Korean financial institution designated as a settlement bank under SBV approval.

Vietnam’s payment infrastructure is built on the VietQR Global system operated by NAPAS, linking banks and merchants nationwide. Through this integration, GLN enables users of partner apps to access the network, expanding acceptance. The partnership is also expected to support inbound use cases, allowing Vietnamese users to make QR payments in Korea via their local apps.

The service is available across tourist destinations, including Da Nang, Phu Quoc, Nha Trang, and Ho Chi Minh City, across everyday merchants. Payments can be made through GLN-connected partner applications, including major Korean fintech apps such as Toss, PurpleGLN, Hana OneQ, Hana Money, and Hana Card, without currency exchange. The service is expected to expand to platforms, including Naver Pay and KB Banking App.

Seok Lee, CEO of GLN, said, “This launch marks a significant step in connecting Korea and Vietnam through a unified QR payment infrastructure. By integrating with Vietnam’s national QR network, we enable a simple payment experience for travelers using the apps they already use in their home market, without currency exchange. We will continue to lead overseas payments and cash withdrawals without physical cards.”

Meanwhile, GLN, a subsidiary of Hana Bank under Hana Financial Group, provides QR payment and QR withdrawal services across 14 countries in Asia, including Vietnam, China, Thailand, the Philippines, Laos, and Japan, with access to more than 200 million QR merchants globally. The company is a leading cross-border payment infrastructure provider in Asia, connecting users and merchants across markets. It has also established partnerships with overseas financial platforms, including Moreta Pay (North America), DeCard App (Singapore), and Taishin Bank (Taiwan).

View original content to download multimedia:https://www.prnewswire.com/news-releases/gln-connects-to-vietnams-national-qr-network-enabling-nationwide-qr-payments-302753730.html

SOURCE GLN International

Technology

VARON Celebrates 5 Years Supporting Easier Breathing for Customers Worldwide

Published

2 hours ago

April 26, 2026

NEW YORK, April 24, 2026 /PRNewswire/ — VARON is celebrating a meaningful milestone, its 5th anniversary, and is taking this moment to thank customers around the world who have trusted its oxygen therapy solutions over the years. What started as a mission to make breathing support more accessible has grown into a global community of users relying on VARON’s advanced oxygen machines in their daily lives.

This anniversary is not just about the company’s growth, but about the people behind it—the individuals and families who have chosen VARON for comfort, independence, and peace of mind.

Five Years of Supporting Easier Breathing and Everyday Living

Over the past five years, VARON has focused on one simple idea: making oxygen therapy easier to use, easier to move with, and easier to trust. From home use to travel needs, the brand has continued improving its range of oxygen machines to support different lifestyles and health needs.

Today, VARON offers a full lineup that includes compact portable oxygen concentrator models and reliable at home oxygen concentrator systems designed for long-term use. Many users also prefer VARON’s lightweight oxygen concentrator options, which allow more freedom of movement without sacrificing performance.

“Our customers are at the center of everything we do,” VARON CEO shared in a message marking the anniversary. “We are deeply grateful for the trust placed in us over the past five years. Every device we create is built with real people and real daily needs in mind.”

Designed for Real Life: Home and On-the-Go Oxygen Support

VARON’s oxygen solutions are designed to fit into everyday routines—whether at home, during travel, or while staying active.

At home users continue to rely on models like the Serene 5 Home Oxygen Concentrator, which delivers steady medical-grade oxygen with quiet operation and simple controls. The Serene 3 offers a compact option for those who want efficient oxygen support in a smaller footprint.

For users needing flexibility, the VH-2 Pro Home Oxygen Concentrator provides adjustable flow settings and added features like nebulization support, making it a practical choice for daily home use.

On the portable side, VARON continues to expand independence for users who need oxygen on the move. The VP-8G Ultra Portable Oxygen Concentrator stands out for its ultra-lightweight design at just 4.37 lbs, making it easy to carry while traveling or running errands. The VP-6 Continuous Portable Oxygen Concentrator and VP-2 Portable Oxygen Concentrator offer additional options with adjustable flow settings and dependable oxygen delivery.

Each portable oxygen concentrator is designed with user comfort in mind—lightweight, easy to operate, and built for mobility without stress.

A Simple Way to Say Thank You: Anniversary Discounts and Free Gifts

To celebrate its 5th year, VARON is launching a limited-time global appreciation event with special savings across its entire product range.

Customers can enjoy featured anniversary offers:

18% OFF sitewide across all oxygen machinesFree VARON gifts, including a $30 store gift card and extra nasal cannulas with every machine purchaseUp to 40% OFF selected featured productsAutomatic discounts applied at checkout—no codes needed

Customers can also save more with bundle options such as the VP-8G Super Bundle and extra battery packages for VP-6 and VP-2 models.

“These anniversary offers are our way of saying thank you,” VARON CEO shared. “We want to make it easier for more people to access reliable oxygen support at home and on the go.”

Looking Ahead with Customers at the Center

As VARON moves into its sixth year, the company remains focused on improving its oxygen therapy technology and expanding accessibility worldwide. Future development will continue to focus on making portable oxygen concentrator devices lighter, more efficient, and easier to use in everyday life.

The goal remains simple: to help more people breathe easier and live with greater confidence and independence.

About VARON

VARON is a trusted provider of oxygen therapy solutions, offering a wide range of at home oxygen concentrator systems, portable oxygen concentrator devices, and advanced oxygen machines designed for home, travel, and personal use. The company is committed to creating lightweight oxygen concentrator technology that supports comfort, mobility, and better quality of life.

For more information on VARON’s 5th anniversary offers and full product lineup, customers are encouraged to visit the official VARON website.

Media Contact:
VARON Oxygen Concentrator
Email: support@varoninc.com
Website: https://varoninc.com/

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SOURCE Varon oxygen concentrator