Folding Bicycle Market Size, Share, Growth Analysis, By Size(20 inches, 24 inches, 26 inches), By Drive Type(Conventional, Electric), By Distribution Channel(Online, Offline), By Folding Type(Vertical Type, Horizontal Type), By Material(Aluminum, Steel, Carbon Fiber, Titanium), By Price Range(Low Range, Medium Range, Premium Range), By Region - Industry Forecast 2024-2031

Global Folding Bicycle Market size was valued at USD 720.94 million in 2022 and is poised to grow from USD 784.39 million in 2023 to USD 1540.10 million by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

The global folding bicycle market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Brompton Bicycle Ltd.', 'Dahon', 'Tern Bicycles', 'Montague Corporation', 'Gocycle', 'Strida', 'Birdy', 'Pacific Cycles', 'Bike Friday', 'Citizen Bike', 'Allen Sports', 'Schwinn', 'EuroMini', 'Vilano', 'Retrospec', 'Zizzo', 'Xspec', 'Columba', 'Camp Alloy', 'Raleigh', 'In April 2022, DAHON introduced a very unique, limited edition carbon fibre folding bike to commemorate 40 fruitful years and the millions of DAHON bikes that have folded and unfolded in the hands of delighted riders. The DAHON Anniversary 40 is a quick and nimble bike that has a lot of high-end and carbon components. It has a diamond frame and two reliable, fully integrated LockJaw hinges. The Shimano 11-speed derailleur and hydraulic disc brakes pack a powerful punch, yet the sleek assembly only weights 9.4 kg (20.7 lbs).', 'In September 2022, Fiido launched an electric bike with an upgraded display and a new PAS-0 mode.'

Due to growing traffic congestion and rising consumer inclination to avoid using vehicles, rising urbanization is predicted to present an attractive potential for the growth of the foldable bike industry. E-bikes are more affordable than vehicles, don't need a license, and can be used on the existing infrastructure for cyclists. The construction of e-bike infrastructures, such as bicycle lanes, public charging stations, and others, is a priority for the governments of many nations given customer preference for e-bikes. As an illustration, Sanyo (Japan) established two solar parking areas in Tokyo where about 100 electric bicycles may be charged using solar energy.

In addition to its advantages of being lightweight, more flexible, and smaller, folding bicycles also offer the added benefit of being able to go in subways and metros. Due to their tiny size, consumers may store these cycles inside their houses. In the approaching years, it is anticipated that consumer awareness of environmental pollution, exercise, and personal health would enhance the usefulness of the foldable bicycle.

In 2021, Europe had the greatest share of the global folding bicycle market. It has been noted that the majority of people in Europe choose to utilize bicycles as a form of everyday transportation. Urban residents of industrialized nations like Germany, the United Kingdom, France, and Italy prefer to utilize foldable items since they take up less room. Furthermore, during the coming few years, new opportunities for foldable bicycles are anticipated as a result of encouraging government initiatives on the use of ecologically friendly automobiles in nations like France and the Netherlands. In Denmark, bicycles are used for 16% of all journeys and 25% of trips under three kilometers. Only 263,000 vehicles and 800,000 bicycles are present in Amsterdam. There are more bikes than humans in this city of 779,808 inhabitants.