Micromobility refers to the use of lightweight, often electrically powered vehicles for short-distance trips within urban areas. These vehicles are typically designed for one or two passengers and are well-suited for navigating crowded city streets and narrow pathways.

The increasing adoption of electric vehicles primarily propels the market’s growth of electric vehicle powertrains. In addition, strict regulations relating to vehicle emissions and fuel efficiency further contribute to the rising demand for these materials.

Gartner forecasted six million electric cars will be shipped in 2022 at a growth rate of 34.4% from 2022. • While the marketplace for EVs is growing, consumers are also looking more closely at the practices manufacturers are deploying when building their products. • Because lasers operate without consumables, they can significantly reduce waste and replace non-eco-friendly technologies.

Aluminum is much lighter than steel and has numerous advantages over other materials, such as flexibility, the automotive sector's largest segment is increasingly focusing on using aluminum rather than steel and iron to produce components and parts using die-casting machinery.