Folding Electric Bicycle Market Analysis| Europe to Dominate Global Market through 2023-2027
The Folding Electric Bicycle Market is estimated to exhibit growth at a CAGR of 8.32% between 2022 and 2027 followed by USD 178.5 Mn revenue growth. Increasing traffic congestion, government policies and initiatives promoting bicycles, and the rapid development of cycling infrastructure are some of the major market growth determinants.
As per the market assessment, "The market can be segmented by age group (age 18-50, < 18, and age > 50), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa)."
Leading companies that are contributing to this rising demand 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, Switch Energy Pvt. Ltd., etc comes with a wide range of offerings.
Fastest growing topography of the Folding Electric Bicycle Market
Europe to Dominate Global Market through 2023-2027
When it comes to the fastest-growing topography, it is assessed that 52% of the growth of the global market during the forecast period will originate from Europe. Germany, France, Austria, Belgium, and the Netherlands are some of the key countries in Europe that are significantly contributing to the global folding electric bicycle market due to their increase in adoption. A majority of the population in Europe prefers bicycles as the main mode of transportation for short distances. Our report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Folding Electric Bicycle Market in the region.
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Folding Electric Bicycle Market: Key Highlights of the Report for 2023-2027