Are there any ways to decrease the amount of Egg cycles?

Question

Some Pokemon have way too many egg steps, and it takes ages to hatch a breeded Pokemon.

Answer 1

Not all of these effects will work in every game; check respective pages for details.

• A Pokemon with the Ability Flame Body, Magma Armor, or Steam Engine halves Egg cycles while in the party.
• Using Hatching Power, Egg Power, Roto Hatch, or a Secret Pal's "Take Care of an Egg" skill shorten Egg cycles' lengths by varying amounts.
• In The Gen IV games and BDSP, Egg cycles are shortened to 230 steps (down from 255) on certain days. These are detailed below.
  

Egg cycle (Bulbapedia)
Egg Hatching In Generation 4 (Sinjoh Ruins)

Answer 2

Yes - by having a Pokemon with the ability Flame Body or Magma Armor in your party, it will "incubate" the egg and cut the number of steps in half.

(Note, multiple Pokemon with the abilities don't decrease it any more.)