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

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.

Approximately 63 percent of Dutch people ride bicycles every day, accounting for roughly 48 percent of total metropolitan traffic (compared to only 22 percent for vehicles). Some of the world's most well-known bicycle villages are found in Denmark and the Netherlands, and they don't only consist of 20-somethings cycling to and from college. Men, women, and people of all ages frequently commute by bicycle all year long, and cycling is popular across all demographics. They ride bicycles to work, school, daycare, grocery stores, and events.

According to estimates, the global folding bicycle market's fastest-growing region is Asia Pacific. The business is anticipated to continue to be significantly influenced by the growing adult interest in sports like cycling and mountain riding in nations like China, Japan, India, and Indonesia. Additionally, rising residential property costs in metropolitan areas are pushing customers to buy foldable, practical alternatives they can store at home, such as folding bicycles. In the months leading up to the event, Ipsos conducted a global poll titled Cycling Across the World among 20,504 individuals in 28 countries to understand and gather opinions on cycling, how it is regarded, and its usefulness. The survey reveals fascinating aspects of cycling and its applicability to markets. India is the country with the highest percentage of weekly bicycle riders. The majority of urban Indians (67%) claim to ride a bicycle at least once a week, which is the highest rate in the world. China (66%) and the Netherlands were next (65 percent). The markets with the lowest prevalence of riding, however, were Canada (16%) and the UK (19 percent).

Additionally, for a short distance of 2 km, at least 21% of urban Indians stated that their preferred means of transportation was a bicycle. The countries with the greatest percentages were the Netherlands (45%) and China (33%), where a disproportionately high number of residents reported to cycle for short distances. Canada (4%) and the US were markets where bicycles were least favored as the major form of transportation (6 percent). This increased usage is expected to boost the growth of the global folding bicycle market during the forecast period.