Market Research Report
Global Folding Electric Bicycle Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||886908|
|Published||Content info||111 Pages
Delivery time: 1-2 business days
|Global Folding Electric Bicycle Market 2019-2023|
|Published: July 9, 2019||Content info: 111 Pages||
Folding electric bicycle is propelled by an electric motor which is compact and facilitates transport and easy storage. Technavio's folding electric bicycle market analysis considers sales from both offline and online segments. Our analysis also considers the sales of folding electric bicycles in APAC, Europe, MEA, North America, and South America. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as buying experience, where a customer can physically examine the product that they plan to buy, will play a significant role in the offline segment to maintain its market position. Also, our global folding electric bicycle market report also looks at factors such as increasing traffic congestion, government policies and initiatives promoting bicycles, and rapid development in cycling infrastructure. However, easy availability of refurbished bicycles, increasing adoption of motorbikes, growing popularity of bike share programs may hamper the growth of the folding electric bicycles industry over the forecast period.
The increasing traffic congestion across major cities due to rapid urbanization and the increase in population has contributed to the growth of foldable electric bicycle market. This has encouraged daily commuters to opt for foldable electric bicycle due to its benefits. This demand for folding electric bicycle will lead to the expansion of the global folding electric bicycle market at a CAGR of almost 11% during the forecast period.
Significant growth in technology in recent years has changed the perspective of a customer looking for advanced technological solutions for their daily needs. Due to owing demand and rise in the use of smartphones, vendors are strengthening their R&D to develop innovative features. The folding electric bicycles can be controlled using the smartphone app which displays a vital list of details. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global folding electric bicycle market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global folding electric bicycle market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading folding electric bicycles manufacturers, that include Brompton Bicycle Ltd., ProdecoTech, Swagtron. VoltBike, and X-Treme Electric Bicycle.
Also, the folding electric bicycle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.