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Folding Electric Bicycle Market size is set to grow by USD 204.5 million from 2024-2028, Increasing traffic congestion boost the market, Technavio

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NEW YORK, Aug. 6, 2024 /PRNewswire/ — The global folding electric bicycle market size is estimated to grow by USD 204.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.8% during the forecast period. Increasing traffic congestion is driving market growth, with a trend towards emergence of lightweight folding electric bicycles. However, easy availability of refurbished bicycles poses a challenge. Key market players include Addmotor Tech, Autonix Auto Industries Pvt. Ltd., Benelli Biciclette, Brompton Bicycle Retail 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 Bikes, SWAGTRON, VoltBike, Woosh Bikes Ltd., X Treme Scooters, XDS BICYCLES, and Xiaomi Communications Co. Ltd..

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Folding Electric Bicycle Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.8%

Market growth 2024-2028

USD 204.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.49

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 54%

Key countries

The Netherlands, US, Germany, China, and Italy

Key companies profiled

Addmotor Tech, Autonix Auto Industries Pvt. Ltd., Benelli Biciclette, Brompton Bicycle Retail 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 Bikes, SWAGTRON, VoltBike, Woosh Bikes Ltd., X Treme Scooters, XDS BICYCLES, and Xiaomi Communications Co. Ltd.

Market Driver

Folding electric bicycles are popular due to their advanced features and lightweight design, despite their higher price point. These bicycles boast aluminum and carbon frames, wider knobby tires, air suspensions with weight adjusters, and hydraulic brakes. Vendors focus on introducing innovative technology upgrades to attract consumers to new and upgraded products. In October 2021, Brompton launched the Brompton X, a folding electric bike with a magnesium frame, keeping it relatively lightweight at 17 kg. Consumers are willing to pay premium prices for value-added features, and the global folding electric bicycle market is expected to experience significant growth due to technological advancements and increasing demand for lightweight e-bikes. 

The folding electric bike market is experiencing significant growth due to its popularity among urban commuters. This space-saving option caters to riders who face availability space issues in their homes or workplaces. The bicycle’s design includes a hinge at the rear triangle, allowing the main frame to fold around the bike’s rear triangle, derailleur, and moving parts. Urban residents turn to folding bikes to tackle traffic-related issues, such as long car lines and traffic jams. Private organizations and public transportation systems are embracing foldable bikes as an alternative to conventional bikes and electric cars. The material used in these bikes ranges from conventional to electric, with the electric segment gaining traction due to health advantages like improved cognitive function, reduced stress, and better mood. The folding type of bike offers balance and coordination benefits for consumers, including mountain bikers. The market trends include high-speed features and the millennial generation’s preference for eco-friendly transportation options, reducing carbon emissions. The automotive sector’s vehicle sales are impacted as consumers opt for these bikes instead. Raw materials and design performance are key factors driving innovation in the folding electric bike market. 

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Market Challenges

The high-end folding electric bicycle market faces competition from the sale of used bicycles, both online and offline. Consumers are drawn to the affordability of refurbished folding electric bicycles, which are priced lower than new ones. Vendors offering warranties further boost demand for second-hand cycles. EBay Inc. And Craigslist are notable platforms for purchasing refurbished folding electric bicycles at competitive prices. This trend may restrict the expansion of the global folding electric bicycle market during the forecast period.The folding electric bicycle market is experiencing significant growth due to increasing urbanization and the need for eco-friendly transportation solutions. However, challenges persist in the form of limited e-bike infrastructure, solar parking areas being insufficient, and bicycle theft concerns. Simplicity in storage, lightweight design, and collapsible frames make folding e-bikes an attractive option for urban commuters in metropolitan areas. Lithium-ion batteries and rechargeable batteries are key components, with battery life and performance being crucial factors. Motor efficiency, battery technology, and material innovations, including magnesium alloy and bamboo frames, are also important. Fitness tracking, navigation, and sustainability are desirable features. Solar charging and market entry dates are also considerations. Folding e-bikes offer a solution to traffic, carbon emission, and transportation restrictions, providing health benefits and a boost to fitness. However, challenges such as battery life, motor efficiency, and material costs may act as restraining factors for the electric bicycle business.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This folding electric bicycle market report extensively covers market segmentation by

Age Group1.1 Age 18-501.2 Lesser than 181.3 Age greater than 50Distribution Channel2.1 Offline2.2 OnlineGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Age 18-50- Folding electric bicycles offer numerous benefits to adults aged 18-50, making them an attractive alternative to traditional modes of transportation. These benefits include improved cardiovascular fitness, joint mobility, posture, coordination, and reduced stress hormones and body fat levels. With traffic congestion and air pollution becoming major concerns, folding electric bicycles provide an efficient solution. They help adults navigate through traffic effectively and contribute to reducing road infrastructure damage, which can cost governments millions of dollars daily. Governments are responding by promoting cycling infrastructure, such as protected lanes and signals, encouraging more adults to opt for folding electric bicycles. Vendors are expanding their product offerings to meet this growing demand, leading to increased sales in the age group 18-50 segment of the global folding electric bicycle market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global bicycle market is poised for robust growth, driven by rising environmental concerns and increasing health consciousness. Key growth drivers include the surge in eco-friendly transportation and government initiatives promoting cycling. Major players include Trek Bicycle Corporation, Giant Manufacturing Co., and Merida Industry Co., Ltd. Regionally, North America and Europe lead in market share, while Asia-Pacific shows the highest growth potential due to urbanization and infrastructure development.

Research Analysis

Folding bikes, also known as foldable or collapsible bikes, are a space-saving option for urban commuters and riders with limited available space. These innovative bikes feature a collapsible frame that allows the main frame, rear triangle, derailleur, and even the bicycle’s back wheel to be folded for easy storage. With the integration of rechargeable batteries, folding bikes have evolved into electric folding bikes or e-bikes, providing a boost for riders in metropolitan areas. Lightweight design, long battery life, and high motor efficiency make these e-bikes a popular choice for eco-conscious commuters looking to avoid cars and motorbikes in traffic. Design aesthetics and battery technology continue to improve, offering a wide range of options for riders seeking a combination of performance and portability.

Market Research Overview

The Folding Electric Bike market is witnessing significant growth due to the increasing demand from urban commuters for space-saving mobility solutions. Folding bikes offer the convenience of compact size, making them an ideal choice for riders in urban areas with limited available space. The main frame, rear triangle, derailleur, and hinge are key components of a folding bike, with moving parts minimized for ease of use. Urban residents face traffic-related issues such as long car lines and traffic jams, making folding electric bikes an attractive alternative to private vehicles. The electric segment of the folding bike market is gaining popularity due to its health advantages, including improved cognitive function, reduced stress, and better mood. Folding electric bikes offer high-speed features and are popular among the millennial generation, who prioritize green mobility solutions over traditional automobiles. The electric lineup includes ground-breaking models like the E-scooter ES-2, GB-2 Electric, Ciao E7, and Unio E20. The rising urbanization and affordability of folding electric bikes are driving demand, with existing infrastructure being adapted to accommodate e-bike infrastructures such as solar parking areas. However, concerns over battery theft and simplicity in storage remain challenges for the industry. Lightweight design, long battery life, and performance are key considerations for consumers, with advancements in battery technology, motor efficiency, and material innovations driving growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Age GroupAge 18-50Lesser Than 18Age Greater Than 50Distribution ChannelOfflineOnlineGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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NASA Johnson Invites Proposals to Lease Vibration Test Facility

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HOUSTON, Nov. 14, 2024 /PRNewswire/ — NASA’s Johnson Space Center is seeking proposals for the use of its historic, but underused, Vibration and Acoustic Test Facility. Prospective tenants must submit facility walk-through requests by Monday, Nov. 18.

Final proposals are due by 12 p.m. EST Monday, Dec. 16, and must promote activities that will build, expand, modernize, or operate aerospace-related capabilities at NASA Johnson and help preserve the historic and iconic building through preservation and adaptive reuse.

NASA plans to sign a National Historic Preservation Act (NHPA) lease agreement for the facility, also known as Building 49, for a five-year base period and one five-year extension to be negotiated between NASA and the tenant. To request a walk-through, send an email to hq-realestate@mail.nasa.gov

“This historic facility has been used for decades to ensure the success and safety of all human spaceflight missions by putting engineering designs and hardware to the ultimate stress tests,” said NASA Johnson Director Vanessa Wyche. “For more than 60 years, NASA Johnson has been the hub of human space exploration and this agreement will be a vital part of the center’s efforts to develop a robust and durable space economy that refines our understanding of the solar system and space exploration.”

All proposals must adhere to the guidelines detailed in the Agency Announcement for Proposals describing concept plans for development of the property, including any modifications proposed to the building; a statement of financial capability to successfully achieve and sustain operations, demonstrated experience with aerospace-related services or other space-related activities, and a detailed approach to propelling the space economy.

The nine-story building complex has a gross square footage of 62,737 square feet and consists of a north wing measuring 62 feet long, 268 feet wide and 106 feet tall, and a central wing about 64 feet long and 115 feet wide. Building 49 currently houses five laboratories, including the General Vibration Laboratory, Modal Operations Laboratory, Sonic Fatigue Laboratory, Spacecraft Acoustic Laboratory, and Spacecraft Vibration Laboratory. The south administrative portion of the building is not included in the property offered for lease. 

As the home of Mission Control Center for the agency’s human space missions, astronaut training, robotics, human health and space medicine, NASA Johnson leads the way for the human exploration. Leveraging its unique role and location, the center is developing multiple lease agreements, including the recently announced Exploration Park, to sustain its key role in helping the human spaceflight community foster a robust space.

In the coming years, NASA and its academic, commercial, and international partners will see the completion of the International Space Station Program, the commercial development of low Earth orbit, and the first human Artemis campaign missions establishing sustainable human presence on the Moon in preparation for human missions to Mars.

Johnson already is leading the commercialization of space with the commercial cargo and crew programs and private astronaut missions to the space station. The center also is supporting the development of commercial space stations in low Earth orbit, and lunar-capable commercial spacesuits and lunar landers that will be provided as services to both NASA and the private sector to accelerate human access to space. Through the development of Exploration Park, the center will broaden the scope of the human spaceflight community that is tackling the many difficult challenges ahead.

Learn more about NASA Johnson’s efforts to collaborate with industry partners:

https://www.nasa.gov/johnson/frontdoor/ 

NASA Johnson Space Center news releases and other information are available automatically by sending an Internet electronic mail message to listserv@listserver.jsc.nasa.gov.  In the body of the message (not the subject line) users should type “subscribe hsfnews” (no quotes). This will add the email address that sent the subscribe message to the news release distribution list. The system will reply with a confirmation via E-mail of each subscription.  Once you have subscribed you will receive future news releases via e-mail.

 

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SOURCE NASA

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Cabana Partners with Virginia Department of Veterans Services to Provide Comprehensive, Free Mental Health Support for Veterans, Guard/Reserve Members, and Their Families

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RICHMOND, Va., Nov. 14, 2024 /PRNewswire/ — Cabana, a modern mental health provider offering confidential, tech-enabled support, has partnered with the Virginia Department of Veterans Services (DVS) to provide free, comprehensive mental health resources to Virginia’s veterans, Guard and Reserve members, as well as their spouses and caregivers. This collaboration expands access to Cabana’s digital mental health services, including live peer support groups moderated by Virginia-certified Veteran Peer Specialists.

Originally developed through research and development initiatives with the U.S. Air Force, Cabana’s services are designed to meet the unique needs of military and veteran communities. With this partnership, eligible Virginia users gain full access to Cabana’s digital suite, which includes the full range of virtual, professionally facilitated groups offered by Cabana, as well as dedicated Virginia Veteran peer-led support groups. Participants can connect discreetly on topics such as transitioning to civilian life, managing family relationships, and coping with stress, all within a secure and confidential environment accessible from any device.

David Black, Founder and CEO of Cabana, underscored the mission behind the partnership: “We’re honored to work with the Virginia Department of Veterans Services to offer a holistic mental health solution for Virginia’s military-connected community. With Virginia-certified Veteran Peer Specialists and our full array of live support groups, we’re providing a powerful, confidential resource that veterans and military families can rely on, whenever and wherever they need it.”

Key Features of the Partnership:

Comprehensive Access to Support: Virginia veterans, Guard/Reserve members, and their families will have unrestricted access to all live virtual groups available through Cabana, in addition to specialized peer-led groups run by Virginia-certified Veteran Peer Specialists.Support for Families and Caregivers: The initiative includes spouses and caregivers, addressing the unique mental health needs of military-connected families through sessions tailored to issues like family dynamics, stress management, and the transition to civilian life.Confidential and Flexible Access: Cabana’s services are available on mobile and desktop devices, providing Virginia’s veterans and their families with an easily accessible, cost-free solution for mental health support.

This collaboration highlights Cabana’s commitment to supporting the mental well-being of those who serve and their families. By joining forces with the Virginia Department of Veterans Services, Cabana seeks to strengthen the resilience and wellness of Virginia’s military community.

For more information on the partnership between Cabana and the Virginia Department of Veterans Services, please contact:

Nick Armstrong, Ph.D.
Head of Public Sector, Cabana
nick@cabanahealth.org

About Cabana™
Cabana is a leading, modern mental health provider offering confidential, tech-enabled support solutions tailored to the needs of diverse communities. Through live, professionally moderated group sessions, evidence-based content, and adaptable wellness tools, Cabana helps individuals proactively manage their mental health. Our mission is clear: to make mental health care more accessible through technology and human connection.

About the Virginia Department of Veterans Services (DVS)

The Virginia Department of Veterans Services (DVS) is a state government agency with more than 50 locations across the Commonwealth of Virginia. DVS traces its history to 1928 and the establishment of the Virginia War Service Bureau to assist Virginia’s World War I veterans. Today, DVS assists veterans and their families in filing claims for federal veterans benefits; provides veterans and family members with linkages to services including behavioral health, housing, employment, education, and other programs. The agency operates long-term care facilities offering in-patient skilled nursing care, dementia/memory care, and short-term rehabilitation for veterans; and provides an honored final resting place for veterans and their families at three state veterans cemeteries. It operates the Virginia War Memorial, the Commonwealth’s tribute to Virginia’s men and women who gave the ultimate sacrifice from World War II to the present. For more information, please visit www.dvs.virginia.gov.

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SOURCE Cabana

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East Side Games Group Reports Third Quarter 2024 Financial Results

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Revenue of $21.4M in Q3 2024 and $62.8M Year to DateA-EBITDA of $2.56M in Q3 2024 and $9.2M Year to DatePOWER RANGERS: MIGHTY FORCE launched globally

VANCOUVER, BC, Nov. 14, 2024 /CNW/ – East Side Games Group (TSX: EAGR) (OTC: EAGRF) (“ESGG” or the “Company”), is pleased to announce its financial results for the third quarter ended September 30, 2024. All amounts are stated in Canadian dollars on an IFRS basis unless otherwise indicated. Building on the momentum from Q2, the company achieved its first growth quarter of the year, reporting a top-line revenue of $21.4 million, a 4% increase quarter-over-quarter and a 3% increase year-over-year.

The company’s adjusted EBITDA for the quarter was $2.56 million, representing a 12% margin and marking the eighth consecutive profitable quarter above $2.5 million. East Side Games Group continues to demonstrate strong performance metrics across its core portfolio, with an average daily user count (DAU) of 236,000, a stickiness rate of 24%, and an average revenue per daily active user (ARPDAU) of $0.99.

“Our focus on profitability within our existing portfolio has paid off, and we are excited to further enhance our user acquisition strategies,” said Jason Bailey, CEO of East Side Games Group. “With $8.3 million in cash—our highest balance since Q2 2022—we are well-positioned to invest in our future game launches and bolster our share buyback program.”

One of the key drivers of growth this quarter was the launch of POWER RANGERS: MIGHTY FORCE in August, which quickly garnered nearly 30,000 daily active users and demonstrated impressive return on advertising spend (ROAS) figures.

In Q3, the company also enhanced its revenue generation through innovative strategies. The introduction of bi-monthly season passes for popular titles like Trailer Park Boys: Greasy Money and Cheech and Chong: Bud Farm resulted in a remarkable 40% increase in season pass revenue.

In a major collaboration, East Side Games Group partnered with BBC and Paramount to create the Intergalactic Friendship Day crossover event between Star Trek Lower Decks: The Badgey Directive and Doctor Who: Lost in Time, generating substantial organic traffic and setting new ARPDAU records.

Looking forward to Q4, East Side Games Group is excited to introduce team-based cooperative and competitive play features into titles such as Trailer Park Boys: Greasy Money and RuPaul’s Drag Race Superstar, anticipating a significant boost in player engagement and monetization.

Moreover, the company is preparing to launch Trailer Park Boys: Greasy Money on the Epic Games Store, expanding its reach in a new mobile marketplace with favorable revenue-sharing terms. This is a very exciting opportunity, only being afforded to a few game studios.

Finally, East Side Games Group is thrilled to announce our upcoming title, RuPaul’s Drag Race Match Queen, developed in partnership with Funkitron and World of Wonder. Slated for a 2025 release, this hybrid match-3 game combines beloved gameplay elements with captivating fashion and character features, catering to the passionate fanbase of RuPaul’s Drag Race.

Mike Edwards will be stepping down from the ESGG Board of Directors to focus on other pursuits, effective immediately. ESGG thanks him for his invaluable guidance over the past 12 years and is currently in discussions with several highly qualified candidates for his replacement.

Three Months Ended Sep 30, 2024 Financial highlights

For the quarter ended September 30th, 2024, revenue was $21.4M.Q3 2024 a-EBITDA of $2.56M and 12% a-EBITDA margin.Cashflow for the Company for the quarter ended September 30, 2024 increased by $700k, ending at $8.3M.Daily Active Users in Q3 were 236k, with an ARPDAU of $0.99On November 14, 2023, the Company announced a renewal of its Normal Course Issuer Bid (“NCIB”) authorizing the Company to purchase 4,076,819 of its shares. Through September 30, 2024, the Company purchased 1,540,719 shares at an average price of $0.76. The company continues to buy back stock as restrictions allow.

Certain information provided in this news release is extracted from the consolidated financial statements (the “Financial Statements”) and Management’s Discussion & Analysis (“MD&A”) of the Company for the quarter ended September 30, 2024, and should be read in conjunction with them. It is only in the context of the fulsome information and disclosures contained in the Financial Statements and MD&A that an investor can properly analyze this information. The Financial Statements and MD&A can be found under the Company’s profile on SEDAR and EDGAR.

Earnings Call Video

ESGG will release its third-quarter 2024 financial results and business outlook on its investor relations website https://eastsidegamesgroup.com/investors/financial-information on Thursday, November 14th, 2024, at approximately 2:00 p.m. Pacific Time.

ABOUT EAST SIDE GAMES GROUP

East Side Games Group is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: The Office: Somehow We Manage, Star Trek: Lower Decks – The Badgey Directive, Bud Farm Idle Tycoon, Doctor Who: Lost in Time, RuPaul’s Drag Race Superstar, AEW: Rise to The Top, Cheech and Chong Bud Farm, and Trailer Park Boys: Grea$y Money.

We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. Additional information about the Company continues to be available under its legal name, East Side Games Group Inc., at www.sedar.com.

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group Inc.

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