Folding Electric Bicycle Market size to grow by USD 178.5 million from 2022 to 2027 | The market is fragmented due to the presence of prominent companies like Addmotor Co. Ltd., Autonix Auto Industries Pvt. Ltd., Benelli Biciclette, and many more
NEW YORK, Oct. 3, 2023 /PRNewswire/ -- The Folding Electric Bicycle Market is estimated to grow by USD 178.5 million, accelerating at a CAGR of 8.32%, during the forecast period. The folding electric bicycle market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer folding electric bicycle market are Addmotor Co. Ltd., Autonix Auto Industries Pvt. Ltd., Benelli Biciclette, Brompton Bicycle Ltd., Dahon North America, Inc., e JOE Bike, ENZO eBike, Kalkhoff Werke GmbH, Karbon Kinetics Ltd., Mighty Velo, Ming Cycle Industrial Co. Ltd., Strodesters Inc., SUNRA, Svitch Energy Pvt. Ltd., SWAGTRON, VoltBike Electric Inc., Woosh Bikes Ltd., X Treme Scooters, XDS BICYCLES, and Xiaomi Communications Co. Ltd. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample Report before buying
Folding Electric Bicycle Market 2023 – 2027: Company Offering:
Addmotor Co. Ltd.: The company offers folding electric bicycles such as Cargo electric bikes, Wildtan, and Citypro.
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Folding Electric Bicycle Market 2023 – 2027: Geographical Analysis
By Geography, the market is classified as Europe, North America, APAC, South America, and Middle East and Africa. Europe will have the largest share of the market.
Europe is expected to account for 52% of the global market's growth during the forecast period. Analysts at Technavio have detailed the regional trends and factors influencing the market during this period. Notably, key European countries such as Germany, France, Austria, Belgium, and the Netherlands are making significant contributions to the global folding electric bicycle market. This is primarily due to the rising adoption of these bicycles, driven by a preference for cycling as the primary mode of short-distance transportation among a majority of the European population.
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Folding Electric Bicycle Market 2023 – 2027: Market Dynamics
- Impactful driver- The rising issue of global traffic congestion, attributed to factors like population growth and urbanization, is driving the growth of the folding electric bicycle market. These bikes offer a convenient and eco-friendly solution, particularly in urban areas. Countries like the US, Germany, and Sweden are actively promoting cycling as a mode of transport, further boosting market growth.
- Key Trend - Emergence of lightweight folding electric bicycles
- Major Challenges - The increasing adoption of motorbikes
Folding Electric Bicycle Market 2023 – 2027: Segmentation
The market is segmented by age group (age 18-50, < 18, and age > 50), distribution channel (offline and online)
The 18-50 age group is projected to see substantial growth in the folding electric bicycle market during the forecast period. This is driven by the numerous health benefits these bicycles offer, including improved fitness and reduced stress, making them increasingly popular among this demographic. Additionally, many adults in this age range are using folding electric bikes for their daily commute to work and school.
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TOC:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Age Group
- Market Segmentation by Distribution Channel
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Vendor Landscape
- Vendor Analysis
- Appendix
About US
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SOURCE Technavio
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