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

Folding Bicycle Market Driver

• 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.
• Due to their hectic schedules and modern lifestyles, individuals are compelled to work without exercise and eat only junk food, which contributes to their being overweight or obese. The demand for folding bicycles will thus rise in the next years due to rising health concerns among customers. Apart from that, a number of folding bicycle features, including reduced risk of bicycle theft, simplicity in storage, adaptability for mixed-mode commuting, etc., would support the global folding bicycle market expansion throughout the projection period.

Folding Bicycle Market Restraint

• A significant barrier limiting the growth of the e-bike market is the high cost of e-bikes. E-bikes are more expensive than regular bicycles, scooters, or motorbikes due to the battery and technological costs. As a result, buyers believe that traditional bikes or scooters offer better performance for the same or less money. Additionally, using lithium-ion batteries or a motor's driving mechanism comes at a high cost, which restrains the market's expansion. Therefore, the rise in e-bike use outside of China is constrained by high costs. The worldwide e-bike industry, however, is expanding quickly, which might soon lessen the impact of this limitation.