Technology

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

Published

2 months ago

August 6, 2024

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.

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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.

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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

Technology

PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

Published

1 hour ago

September 21, 2024

24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

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SOURCE Pause for Peace

Technology

Global Times: China opens 12 nuclear research facilities to global scientists

Published

2 hours ago

September 21, 2024

The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

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SOURCE Global Times

Technology

The Ar-King of Spirits: Ed Arking’s Impact on the Liquor Industry

Published

3 hours ago

September 21, 2024

In the interest of providing luxury liquors in a convenient and stress-free format, Served Neat was born. When asked about his intentions for the company, Ed states, “My goal with Served Neat is to create a one-stop shop where customers can easily discover these rare gems.”

MOORESTOWN, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — Served Neat is an emerging online platform with a curated selection of some of the world’s most popular luxury spirits. The website offers daily flash deals that highlight a variety of high-end international brands including Pappy Van Winkle, Buffalo Trace, Clase Azul, and more.

“While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Ed and Joe Arking, the father-son team behind the concept of Served Neat, have decades of experience hand-selecting and supplying sought-after liquors. Ed Arking, CEO of New Jersey’s Roger Wilco, grew up in the world of wine and spirits and formed his own business aspirations.

“Growing up, I watched my father navigate and succeed in the ever-evolving wine and spirits industry,” Ed explains. “While I always aspired to create something similar, I knew I needed to wait for the right moment.” Ed has gone on to manage his own liquor store and lead projects for up-and-coming brands, such as the vodka-infused and non-carbonated Smooth Water.

As he evolved in his career, Ed discovered the perfect time to make his lifelong vision a reality. He recalls, “I noticed a gap in the market—especially for whiskey and tequila. These categories have surged in popularity, making it difficult for the everyday consumer to find those elusive sought-after allocated bottles.”

When it comes to Served Neat, quality and knowledge is key. Ed adds, “While there are websites selling spirits, none have the decades of experience that we bring from WTSO. Served Neat will offer not only incredible bottles but also the best customer service in the industry.”

Served Neat is the sister company to WTSO and The Wine Market, two online platforms dedicated to sourcing and distributing top-notch wines from every corner of the globe.

At The Wine Market, an online marketplace for the world’s most popular wine brands, convenience and quality are key. Each bottle in their curated collection is a testament to exceptional flavor and craftsmanship.

Since 2006, WTSO has enjoyed creating a unique wine experience and sharing it with new beginners and seasoned connoisseurs alike. Using an extensive network of wineries and wine makers, WTSO connects customers to thousands of brands from top wine appellations around the globe. The strong relationships they’ve formed within the wine world allow the business to deliver authentic and high-quality bottles to homes across the United States.

Wine and spirits lovers alike are invited to explore Served Neat, WTSO, and The Wine Market to find their next favorite bottle. Visit their websites to learn more about these one-of-a-kind online marketplaces!

Media Contact

Julie Blount, WTSO, 1 8669572795, marketing@wtso.com

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SOURCE WTSO