NEW YORK, Dec. 13, 2021 /PRNewswire/ — 50% of the market’s growth will originate from Europe for the folding electric bicycle market. Germany, The Netherlands, and Belgium are the key markets for folding electric bicycles in Europe. However, the market growth rate in this region will be slower than the growth of the market in the North American, APAC, and South American regions. The development of cycling infrastructure, which includes well-maintained bike lanes and bicycle superhighways connecting cities to suburban areas will facilitate the folding electric bicycle market growth in Europe over the forecast period.
According to Technavio, the folding electric bicycle market estimates a market value of USD 163.71 million from 2020 to 2025 In addition, the report projects the market to progress at a CAGR of 8.68%.
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Folding Electric Bicycle Market: Driver & Challenge
Increasing traffic congestion to drive growth
The key factor driving growth in the folding electric bicycle market is the increasing traffic congestion. Factors contributing to this surge in traffic congestion include rapidly increasing population, urbanization, an increase in the number of affordable entry-level cars and motorbikes, and low-interest loans offered by financial institutions. Since folding electric bikes are hassle-free and eco-friendly, they help reduce traffic congestion on roads, especially in urban areas. Due to constraints related to city traffic management, the US, Germany, and Sweden, among other countries, are encouraging the use of cycles as a mode of transport.
Easy availability of refurbished bicycles to impede growth
The easy availability of refurbished bicycles will be a major challenge for the folding electric bicycle market during the forecast period. The high-end bikes industry is facing challenges from companies that offer used bicycles through online and offline platforms. Folding electric bicycles are user-friendly but are priced higher than other electric and traditional bicycles. The high price of folding electric bicycles limits the large-scale adoption of these cycles. Considering the prices of folding electric bicycles, consumers prefer purchasing a refurbished folding electric bicycle instead of getting a new one.
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Folding Electric Bicycle Market: Segmentation Analysis
This market research report segments the folding electric bicycle market by Distribution Channel (offline and online) and Geography (Europe, North America, APAC, South America, and MEA).
The folding electric bicycle market share growth by the offline segment will be significant for revenue generation Offline distribution is considered to be the most effective mode of distribution as consumers can physically examine the products that they plan to buy. Offline physical stores are expected to expand on a large scale, which will increase the visibility of folding electric bicycles.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Folding Electric Bicycle Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.68% |
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Market growth 2021-2025 |
USD 163.71 million |
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Market structure |
Fragmented |
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YoY growth (%) |
9.92 |
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Regional analysis |
Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
Europe at 50% |
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Key consumer countries |
Germany, US, China, The Netherlands, and Belgium |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Addmotor Co. Ltd., Brompton Bicycle Ltd., e-JOE Bike, GFL Group Pty Ltd., Karbon Kinetics Ltd., Open Text Corp., SWAGTRON, VoltBike Electric Inc., Woosh Bikes Ltd., and X-Treme Scooters |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
