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New York, December 13, 2021/PRNewswire/-50% of the market growth of the folding electric bicycle market will come from Europe. Germany, the Netherlands and Belgium are the main markets for folding electric bicycles in Europe. However, the market growth rate in this region will be slower than that in North America, Asia Pacific and South America. The development of bicycle infrastructure, including well-maintained bicycle lanes and bicycle highways connecting cities and suburbs, will promote the growth of the European folding electric bicycle market during the forecast period.
According to Technavio, the foldable electric bicycle market is estimated to have a market value of USD 163.71 million from 2020 to 2025. In addition, the report predicts that the market will grow at a compound annual growth rate of 8.68%.
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Folding electric bicycle market: driving factors and challenges Increasing traffic congestion promotes growth The key factor driving the growth of the folding electric bicycle market is increasing traffic congestion. Factors contributing to the surge in traffic congestion include rapid population growth, urbanization, the increase in the number of affordable entry-level cars and motorcycles, and low-interest loans provided by financial institutions. Since folding electric bicycles are both worry-free and environmentally friendly, they help reduce traffic congestion on the road, especially in urban areas. Due to restrictions related to urban traffic management, countries such as the United States, Germany, and Sweden are encouraging the use of bicycles as a mode of transportation.
Easy access to refurbished bicycles hinders growth During the forecast period, easy access to refurbished bicycles will be the main challenge for the folding electric bicycle market. The high-end bicycle industry is facing challenges from companies that provide second-hand bicycles through online and offline platforms. Folding electric bicycles are convenient to use, but the price is higher than other electric and traditional bicycles. The high price of folding electric bicycles limits the large-scale adoption of these bicycles. Considering the price of folding electric bicycles, consumers are more willing to buy a refurbished folding electric bicycle instead of buying a new one.
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Folding Electric Bike Market: Segmentation Analysis This market research report segments the folding electric bike market by distribution channel (offline and online) and geographic (Europe, North America, Asia Pacific, South America, and MEA).
The market share growth of folding electric bicycles in the offline market segment will significantly increase revenue. Offline distribution is considered the most effective distribution model because consumers can personally check the products 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 Supplier landscape
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Folding electric bicycle market scope
Accelerate with a compound annual growth rate of 8.68%
Europe, North America, Asia Pacific, South America and MEA
Germany, the United States, China, the Netherlands and Belgium
Leading company, competitive strategy, scope of consumer participation
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
Mother market analysis, market growth incentives and obstacles, fast-growing and slow-growing market segments, COVID-19 impact and future consumer dynamics, market conditions during the forecast period
If our report does not contain the data you are looking for, you can contact our analysts and customize the market segment.
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