Global Folding Bikes Market Report 2024

The folding bikes market size has grown rapidly in recent years. It will grow from $0.81 billion in 2023 to $0.89 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to increased urbanization, growing environmental concerns, the development of bike-friendly infrastructure, a shift in consumer lifestyles, and increased traffic congestion in urban centers.

The folding bikes market size is expected to see rapid growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to growing economic stability and disposable income levels, rising supportive government policies, an increase in the aging population, a rise in the number of urban dwellers, stricter environmental regulations and emissions standards, and a growing awareness of the health and wellness benefits of cycling. Major trends in the forecast period include technological advancements, product innovation, integration of e-mobility, sustainable materials and manufacturing practices, incorporation into urban mobility solutions, and integration of digital technologies.

The growing popularity of cycling for fitness and leisure activities is expected to drive the expansion of the folding bike market in the coming years. Cycling, embraced for its health benefits, environmental sustainability, and cost-effective commuting, has led to a surge in demand for convenient transportation options such as folding bikes. These bikes, prized for their portability and adaptability, appeal to both urban commuters and recreational cyclists. For example, in December 2023, Transport for London reported a 6.3% increase in daily cycle journeys, reaching an estimated 1.26 million, with 24% of Londoners having cycled in the past year, up from 21% in 2019 and 2020. This growing interest in cycling is a significant driver for the folding bike market.

Leading companies in this market are innovating by introducing compact motorcycles to broaden their product portfolios and cater to diverse customer preferences. These motorcycles, designed for urban commuting, feature foldable designs for easy storage and convenience. For instance, in September 2023, Honda Motors Co. Ltd. unveiled the Moto Compacto, an electric scooter tailored for customizable urban mobility solutions. With a 490-watt electric motor, top speed of approximately 15 mph, and a range of up to 12 miles, it offers both practicality and fun. Furthermore, it's highly customizable, complementing Honda's forthcoming electric vehicles such as the Prologue and Acura ZDX, and serving as a last-mile transportation solution.

In January 2022, Pon Holdings BV acquired Dorel Sports' bicycle segment from Dorel Industries Inc. for $810 million, marking a significant move in the industry. This acquisition aims to establish Pon Holdings as a global leader in the bicycle market, offering a diverse range of quality brands, including electric bikes, to meet the rising global demand. Dorel Sports, based in Canada, boasts various foldable bicycle brands, contributing to Pon Holdings' strategic vision of providing top-notch bicycles to consumers worldwide.

Major companies operating in the folding bikes market are Decathlon S.A., Brompton Bicycle Ltd, Pacific Cycles Inc., Riese And Müller GmbH, Ming Cycle Industrial Co. Ltd., Tern Bicycles Inc., Romet Sp. z o.o., Bike Friday, Montague Corporation, Raleigh UK Ltd, Ningbo Bestar Co. Ltd, Gocycle, Wattbike Ltd, Allen Sports LLC, Dahon North America Inc., Airnimal Bikes Ltd., Mobility Holdings Ltd., Bobbin Bicycles Ltd, Hummingbird Bike Company Ltd., Zizzo Bike LLC, Moulton Bicycle Company Ltd., Citizen Bike, Strida Ltd., Tyrell Corporation, Helix Labs Inc.

Asia-Pacific was the largest region in the folding bikes market in 2023. The regions covered in the folding bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the folding bikes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Folding bikes are bicycles engineered to collapse into a compact form for convenient storage and transportation. They incorporate hinges or mechanisms that enable the frame and components to fold, reducing their size. Folding bikes are adaptable, providing a solution for individuals with limited storage space or those needing to integrate cycling with other modes of transport.

The primary product types of folding bikes encompass mid-fold, vertical fold, and triangle hinges. Mid-fold designs entail bikes that fold in the middle, typically along the frame, facilitating compact storage and transportation. Drive types vary, including conventional and electric options. Price ranges span from low to economy and premium. These bikes serve various applications such as sports, fitness, and commercial use, and are distributed through both offline and online channels.

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The folding bikes market consists of sales of products such as compact fold, electric fold, step-through frame, and cargo fold bikes that are used to provide convenient and efficient transportation solutions. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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