Global Folding Bicycle Market Size, Share, Growth Analysis, By Size, By Drive Type, By Distribution Channel, By Folding Type, By Material, By Price Range - Industry Forecast 2022-2028

Global Folding Bicycle Market size was valued at USD 934.49 million in 2021 and is poised to grow from USD 1015.66 million in 2022 to USD 2012.29 million by 2030, growing at a CAGR of 8.9% in the forecast period (2023-2030).

The global folding bicycle market is expected to grow significantly over the next few years due to increasing demand for sustainable and eco-friendly transportation options. Folding bicycles are gaining popularity due to their convenience and ease of storage, making them ideal for urban commuters and travelers. The market is also being driven by advancements in technology and the growing trend towards healthy living and outdoor activities

Top-down and bottom-up approaches were used to estimate and validate the size of Folding Bicycle market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global folding bicycle market is segmented based on the size, drive type, distribution channel, folding type, price range, and region. Based on the size, the global folding bicycle market is segmented into 20 inches, 24 inches, 26 inches. By distribution channel, the market is segmented into online and offline. By folding type, the market is segmented into vertical type and horizontal type. By material, the market is segmented into aluminum, steel, carbon fiber, titanium. By price range, the market is segmented into low range, medium range, premium range. Based on drive type, global folding bicycle market is segmented into conventional and electric. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

The foldable bike industry is expected to see promising growth due to two factors: increasing traffic congestion and a growing trend towards non-vehicular transportation in urban areas. E-bikes offer an affordable and license-free alternative to traditional vehicles, while also utilizing existing cycling infrastructure. Many governments recognize the popularity of e-bikes and are prioritizing the development of e-bike infrastructure, including bike lanes and public charging stations. Sanyo, for example, has already established two solar-powered parking areas in Tokyo that can charge up to 100 electric bicycles.

Restrain

The growth of the e-bike market is being hindered by a significant obstacle: the high price of e-bikes. Compared to regular bicycles, scooters, or motorcycles, e-bikes cost more due to their battery and technological components. As a result, buyers often perceive traditional bikes or scooters to offer better performance at an equivalent or lower cost. Additionally, the utilization of lithium-ion batteries and motor-driven mechanisms entails substantial expenses, further impeding market expansion. Despite this limitation, the global e-bike industry is expanding rapidly, which may soon mitigate the impact of high costs on the market outside of China.

Trend

Folding bicycles, besides being lightweight, flexible, and compact, have the added advantage of being easily carried onto subways and metros. Their small size also allows for convenient storage within homes. As consumer awareness of environmental pollution, physical activity, and personal health continues to increase, foldable bicycles are expected to become even more practical and valuable in the years ahead.