Folding Bikes Market Size, Growth And Forecast To 2031

(MENAFN- Straits Research) Folding bikes can save space and weight, making them easier to transport. Folded bikes can easily be carried into buildings and on public transit. Folded, they can be stored in small spaces or on a car, boat, or plane. Model-specific folding mechanisms help bikes take up less space when folded. Design determines the folding mechanism. Folding bikes fold into a small, portable size. This makes folding bikes easier to transport and reduces storage space. Multiple features on folding bikes improve mobility and comfort compared to regular bikes. These features include mixed-terrain flexibility, reduced theft risk, portability, and electric propulsion. Long walking distances between jobs, stations, and homes have inspired people to use bicycles for daily commutes. Increased bicycle adoption is expected to boost the folding bike market during the forecast period.
Market Dynamics
Encourage Biking with Government Regulations Drives the Global Market
Governments are concerted efforts worldwide to lessen the impact of traffic congestion and increase the share of renewable energy in the transportation sector. Because of this, the market for folding bikes worldwide has grown. New folding bike concepts have been introduced by companies such as Brompton Bicycle Ltd., Raleigh UK Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes, and Giant Bicycles to the expansion of the global bicycle market. The proliferation of folding bikes has been aided partly by governments' policies to encourage the development of bicycle infrastructure. The "National Public Bicycle Scheme" was established by the Indian government to promote bicycle infrastructure development. The global market for folding bikes is expected to experience growth throughout this forecast period due to various government regulations and schemes.
Rising Interest in Cycling as Fitness and Recreational Activity Creates Tremendous Opportunities
The health and well-being of consumers are gaining an increasing amount of significance. Therefore, riding bicycles is their mode of transportation of choice. To maintain their physical health, fitness, and activity throughout their lives, most people in today's society devote a significant portion of their spare time to strenuous physical activities such as cycling, yoga, swimming, and running. Cycling, a low-impact exercise, has many benefits for physical and mental health, including endurance, stress reduction, increased muscle strength, and improved cardiovascular fitness. Because there are not enough places to park, people came up with the idea of folding bicycles. These foldable bicycles contribute to the market's effort to create opportunities for producers and manufacturers. The demand for folding bikes is increasing worldwide due to the rising recognition of cycling as a healthy form of exercise and a fun form of recreation.
Regional Analysis
Asia-Pacific is the highest revenue contributor and is estimated to reach USD 672.35 million by 2030, growing at a CAGR of 7.9% during the forecast period. North America will grow at a significant CAGR of 10.4% by 2030. Numerous companies such as Montague Corporation, Pacific Cycles, Vilano Bikes, Dahon, and others are offering innumerable products to their customers across the globe, which has led to the growth of the global folding bikes market. The primary factor that drives the growth of folding bikes in North America is the support offered by the Government in the form of subsidies and tax benefits such as tax rebates.
The Canadian Government plans to increase the number of zero-emission vehicles (ZEVs). It is developing a national strategy as a step toward the reduction of greenhouse gas emission effects. In North America, infrastructure has been developed for the public by their requirements for riding an e-bike, which further propels market growth. Moreover, less availability of natural resources and fuel has shifted people's preference from conventional vehicles to electric bicycles. Furthermore, the rise in consumer awareness toward health and environmental issues has significantly boosted the growth of the folding bikes market in this region.
Key Highlights

The global folding bikes market was valued at USD 934.49 million in 2021. It is expected to reach USD 2,012.92 million by 2030, growing at a CAGR of 8.9% during the forecast period (2022–2030).
The vertical fold segment was the highest contributor to the market, growing at a CAGR of 9.8% during the forecast period.
The conventional segment was the highest contributor to the market and is expected to reach USD 1,387.79 million by 2030, at a CAGR of 8.4% during the forecast period.
The commercial segment was the highest contributor to the market and is estimated to reach USD 622.01 million by 2030, growing at a CAGR of 9.8% during the forecast period.
The economy segment was the highest contributor to the market and is estimated to reach USD 758.49 million by 2030, at a CAGR of 8.8% during the forecast period.
The offline segment was the highest contributor to the market and is estimated to reach USD 1188.10 million by 2030, at a CAGR of 8.3% during the forecast period.

Competitive Analysis
The key players analyzed in the folding bikes market include Bickerton Portables, Bobbin Bicycles Ltd., Brompton Bicycle Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes and Giant Bicycles, Dahon, Gocycle, Raleigh UK Ltd., and Ming Cycle.
Market News

Gocycle Reveals Its Generation Four E-Bike Range – A New Standard For Urban Performance UK
Gocycle To Open European Subsidiary To Support EU Growth


Global Folding Bikes Market: Segmentation
By Product Type

Mid-fold
Vertical Fold
Triangle Hinge

By Drive Type

Conventional
Electric

By Applications

Sports
Fitness
Commercial
Others

By Price Range

Low
Economy36
Premium

By Distribution Channel

Offline
Online

By Regions

North America
Europe
Asia-Pacific
LAMEA

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