The value of the Folding Bikes market is projected to grow to US$ 1628.94 Mn with an estimated CAGR of 8.6% by 2029
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Folding bikes are gaining popularity among the people who are shifting towards healthy and eco-friendly solutions in the recent years. A folding bike enables the user to fold a bicycle into a compact form for proper transportation and storage. The first advantage offered by folding bicycles is intermodality. Unlike conventional bicycles, folding can be combined much more easily with other means of transport. Besides, folding bikes have small wheels, low frame, and adjustable handlebars. Most models are designed primarily for urban use. Also, these folding bikes can be conveniently transported through passenger car vehicles.
The global folding bikes market size is predicted to reach over USD 1,360.9 million by 2028. This can be ascribed to the increasing awareness about health and growing concerns about global pollution. Besides, the folding bikes can be taken anywhere as they are light in weight and the folding nature of these bikes helps to lower the space of the bikes while traveling to the farther places as the space needed to carry is very less, which is also the key factor driving the market growth for car subscription.
However, high cost of e-bikes is the only factor hampering the market growth. The cost of the battery and technology makes e-bikes costlier as compared to traditional bicycles or conventional scooters or motorcycles. Hence, consumers find conventional scooters or motorcycles superior in performance with same or less price. Furthermore, improvement in bicycling infrastructure & battery technology is likely to provide lucrative development opportunities for the car subscription market in the forthcoming years.
Folding Bikes Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2029 |
| Study Period | 2019-2029 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | US$ 1628.94 Mn |
| Growth Rate | CAGR of 8.6% during 2019-2029 |
| Segment Covered | by Product, by Distribution Channels, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Brompton,• Bobbin,• Montague Crosstown,• Raleigh Evo-2,• Bickerton Junction 1707 City,• Dawes Diamond,• Tern Verge X20,• Dahon,• Pacific Cycles,• STRiDA EVO,• Tern Link,• Vilano,• Schwinn,• SwissBike,• Strida LT,• Tern Joe,• Independent Fabrication,• LightSpeed,• Gocycle,• Di Blasi,• Bickerton Portables,• Cyclecentric Ltd. |
Key Segments of the Global Folding Bikes Market
Product Type Overview (USD Million)
- Mid-fold
- Vertical Fold
- Triangle Hinge
Drive Type Overview, (USD Million)
- Conventional
- Electric
Application Overview, (USD Million)
- Sports
- Fitness
- Commercial
- Others
Price Range Overview, (USD Million)
- Low
- Economy
- Premium
Distribution Channel Overview, (USD Million)
- Offline
- Online
Regional Overview, (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global folding bike market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global folding bike market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the folding bikes industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Product Type, Drive Type, Application, Distribution channel, and Price Range. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global folding bike market. The report will benefit Every stakeholder involved in the car subscription market.
- Managers within the folding bike industry looking to publish recent and forecasted statistics about the global folding bike market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global folding bike market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The present and future folding bikes market progress is summarized to conclude the attractiveness of the entire market.
The global folding bikes market size is predicted to reach over US$ 1628.94 Mn by 2029.
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The major players of the global folding bike market are Brompton,• Bobbin,• Montague Crosstown,• Raleigh Evo-2,• Bickerton Junction 1707 City,• Dawes Diamond,• Tern Verge X20,• Dahon,• Pacific Cycles,• STRiDA EVO,• Tern Link,• Vilano,• Schwinn,• SwissBike,• Strida LT,• Tern Joe,• Independent Fabrication,• LightSpeed,• Gocycle,• Di Blasi,• Bickerton Portables,• Cyclecentric Ltd
Over the past few decades, folding bikes has evolved from conventional bikes to automated bikes. With the growing adoption of numerous technologies, folding bike is no more limited to a particular industry and one-time use and being adopted across a wide range of industries. The consumers prefer these bicycles due to their easy availability and cost-effective features. Furthermore, the industry participants are offering a wide range of products with unique style and colors to attract the consumers.
Advanced technologies such as integration of connected devices with the Internet of Things (IoT) and artificial intelligence (AI) solutions enable folding bikes to provide multiple features such as flexibility for mixed compute, less possibility of theft, easy carrying or storing, electric propelled, and others. Moreover, folding bike also boosts the purchase of Conventional vehicles processes as consumers are minimizing the usage of public transport facilities, such as metro, taxis and buses. With all these capabilities folding bike allows extensive infrastructural developments, especially in the developing economies.
Furthermore, long walking distance between workplaces, station, and homes has encouraged people to adopt bicycle as a daily mode of transportation. Therefore, increase in trend to adopt bicycles is expected to boost the folding bikes market growth during the forecast period.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Product Type Segment
Based on the Product Type segment, the market is bifurcated into Mid-folds, Vertical fold and Triangle Hinges. In 2020, the vertical fold segment accumulated the maximum market share and it is likely to continue its dominance with over two-fifths share throughout the forecast years. It is due to the dominance of the advanced features such as compact design, low space consumption, and security. Moreover, the rise in consumer demand for flexible folding bikes contributes to the high vertical fold segment growth in the forecast period.
Drive Type Segment
Based on the Drive Type, the market is segmented into Conventional and Electric. The Electric segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the inclination to purchase these bicycles due to excellent convenience and ease of traveling. The product comes with lithium batteries, which have the ability to keep the vehicle moving up to 60kms. Also, folding bike works out very well for those in transferable jobs and do not want to worry about owning/transporting a car across cities, contributing to the high demand from Electric segment growth in the forecast period.
Application Segment
Based on the Application, the market is segmented into Sports, Fitness, Commercial, and Others. The Commercial segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the reduction of the traffic congestion on roads, mobility cost, and parking cost along with increase in the productivity of the individual. However, the fitness segment is expected to manifest the highest CAGR of 10.0% from 2020 to 2027, owing to the need to stay fit to reduce the risk of a heart attack along with maintaining body weight and low blood cholesterol levels.
Price Range Segment
Based on the Price Range, the market is segmented into Economy, Low, and Premium. The Premium segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. The growing demand for folding bikes and the changing consumer preference are boosting the market growth.
Distribution Channel Segment
Based on the Distribution Channel, the market is segmented into offline and online. The online segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the attractive discounts on every product, which attract consumers to purchase from this channel. Some of the key online suppliers are Ali Express, Amazon, and Flipkart. In addition, increasing penetration of smartphone users in developing economies including China, India, Brazil, and Mexico will further boost the consumer engagement in online stores.
The North America is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the increased traffic congestion on the roads across the region. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the Folding Bikes market in this region is mostly ascribed to the countries such as China and Japan utilizing latest technologies and offering innovative bikes for fitness and commercial applications., which is fueling the growth of global folding bike market in countries such as India, Japan, and China to compete against other regional players.
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The major players of the global folding bike market are Bickerton Portables, Bobbin Bicycles Ltd., Brompton Bicycle Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes, Giant Bicycles, Dahon, Gocycle, and Ming Cycle. Moreover, the additional prospective market players in the folding bike market are Raleigh UK Ltd. and Hummingbird Bike. Renowned companies are offering new and modern folding bike software services. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.