Foldable Electric Vehicle Market 2020: Price Trends, Top Companies, Investment, Growth, Innovation and Forecast 2025

The global foldable electric vehicle market grew at a CAGR of around 17% during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Foldable electric vehicles refer to lightweight, portable and simplistically designed vehicles that occupy a significantly lower space in any standard parking spot. They are generally used for short commutes or trips and have gained immense popularity across the globe. This can be attributed to their minimalistic design, high-durability and mobility, which helps in mitigating fuel-consumption and high maintenance requirements.

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Market Trends

The rising traffic congestion has led to an increased need for efficient vehicles, which has significantly influenced the global foldable electric vehicle market. Apart from this, with the rising concern over greenhouse gas emissions, governments of several countries are promoting the adoption of energy-efficient foldable vehicles. The growing awareness among e-bike enthusiasts about the high compatibility and affordability of these vehicles has further catalyzed the product demand. Moreover, technological advancements have enabled various automotive companies to manufacture foldable electric vehicles. For instance, Hyundai Motor Group launched a new onboard electric scooter with the integration of artificial intelligence that can be folded to the size of a backpack, enabling 20km range with 10.5 Ah Li-ion batteries. This is expected to create a positive outlook for the market in the coming years.

Competitive Landscape
The report has also examined the competitive landscape of global foldable electric vehicle market.

• Airwheel Holding Limited
• Benelli Biciclette
• GiGi Nederland B.V.
• Jetson Electric Bikes
• Zhengzhou F-wheel Industrial Co. Ltd.
• Segway Inc.
• Jiangsu Xinri E-Vehicle Co. Ltd
• TravelScoot
• Trikelet
• URB-E

Key Segments of the Report:

Breakup by Vehicle Type:
• E-Bike
• E-Scooters
• Hoverboards

Breakup by Battery Type:
• Sealed Lead Acid (SLA)
• Nickel Cadmium Battery (NiCad)
• Nickle-Metal Hydride (NiMH)
• Lithium-ion Polymer (Li-ion)
• Lithium Polymer Battery (Li-Po)

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Breakup by Distribution Channel:
• Offline
• Online

Breakup by User Age Group:
• Children
• Adults

Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally—our estimates about the latest market trends and forecast values after considering the impact of this pandemic

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This release was published on openPR.