Global Folding Bicycle Market

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


Report ID: SQMIG25J2064 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 169 |Figures: 81

Folding Bicycle Market Insights

Global Folding Bicycle Market size was valued at USD 934.49 million in 2019 and is poised to grow from USD 1015.66 million in 2023 to USD 2012.29 million by 2031, growing at a CAGR of 8.9% in the forecast period (2024-2031).

A folding bike is exactly what it sounds like—a bike that can be folded. They are made to be a space-saving option for urban commuters and riders when available space is a concern. The bicycle's back wheel, together with the rear triangle and derailleur, may be folded beneath the main frame. The front wheel swings around to sandwich the rear wheel opposite the derailleur as the "top tube" component of the frame pivots at the hinge (this helps protect the rider from all the moving parts when being carried). The majority of urban residents deal with traffic-related issues on a regular basis. In order to travel inside the city boundaries promptly and safely, customers will likely be forced to buy foldable bicycles due to long car lines and hours spent in traffic jams. In order to minimize pollution, governments and private organizations have been urging people to use these foldable bicycles as their main form of transportation. Additionally, the national government has been spending money on developing distinct riding routes and putting legislation into effect that can ensure rider safety.

For example, in Australia, for greater cycling and walking infrastructure for Western Australians over the next four years, the McGowan Labor Government's 2022–23 State Budget allots $347 million. The McGowan Government has continued its dedication to planning and constructing a safe, comprehensive, and accessible cycling and walking network in the wake of the completion of a number of significant projects, including crucial links in the shared paths along the Kwinana Freeway and Fremantle train line. The Western Australian Bicycle Network (WABN) Grants Program and associated projects will get $47 million in funding from the 2022–23 State Budget, while the Principal Shared Path (PSP) Expansion Program will receive $62 million.

The COVID-19 pandemic had a huge influence on the automotive sector, leading to a sharp decrease in vehicle sales, a lack of raw materials, among other things. Players in the automobile sector are dealing with problems such a total shutdown of production, government-mandated plant closures, a lack of crucial components, and others. The lack of raw materials for production has had a detrimental effect on the market's expansion. This lack of availability is the result of a mismatch between supply and demand brought on by the suspension of raw material transportation. Due to the fact that people were ignoring public transportation in order to avoid coming into close touch with other people, the market for foldable bikes was able to resume its development trend earlier.

US Folding Bicycle Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 934.49 million

Largest Segment

26 inches

Fastest Growth

26 inches

Growth Rate

8.9% CAGR

Global Folding Bicycle Market 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)

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Folding Bicycle Market Segmental Analysis

Global folding bicycle market is segmented based on the size, drive type, distribution channel, folding type, price range, and region. Based on the size, the global folding bicycle market is segmented into 20 inches, 24 inches, 26 inches. By distribution channel, the market is segmented into online and offline. By folding type, the market is segmented into vertical type and horizontal type. By material, the market is segmented into aluminum, steel, carbon fiber, titanium. By price range, the market is segmented into low range, medium range, premium range. Based on drive type, global folding bicycle market is segmented into conventional and electric. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Folding Bicycle Market Analysis by Size

The global folding bicycles market was dominated by models measuring 26 inches. They are segmented into 20 inches, 24 inches, and 26 inches. The majority of persons who should use these goods are between 5.5 and 6 feet tall. Mountain biking has gained popularity in recent years due to its numerous health advantages, including greater cognitive function, less risk of injury to the joints, reduced stress, improved mood, and better balance and coordination for a full-body workout. Over the next several years, it is anticipated that consumers would favor these items, particularly mountain bikers.

The 20-inch foldable bicycle segment is anticipated to have the highest growth. Customers choose to buy 20-inch foldable bicycles since they are easy to transport everywhere, including elevators, businesses, and residences. These size variations are being built with high-speed features by the manufacturers. Customers also have the option to boost the bicycle's speed with minimal effort, which appeals to the millennial generation.

Folding Bicycle Market Analysis by Drive Type

In 2021, the largest share in the global folding bicycle market by drive type was held by the electric segment. Governments and environmentalists have been very concerned about rising global carbon emissions as a result of fuel burning for the past few decades. This in turn increases demand for electric cars throughout the world, supporting the market expansion for foldable bikes. Additionally, due to improvements in design and performance as well as economic or environmental considerations, the popularity of electric bicycles has grown quickly on every continent. Deloitte predicted that 130 million e-bikes will be marketed globally between 2020 and 2023. E-bikes appear to be the world's most popular electric vehicle (EV) right now, not automobiles.

For example, at Eurobike, one of the most significant events on the calendar for the cycling industry, renowned folding bike pioneer and manufacturer DAHON successfully showcased its newest models in its 40th year of business. It recently took a break from participating in European events owing to the global pandemic, but it is making a successful return this year at booth Hall 9, A27 in Messe Frankfurt. The grand launch of the electric bike CURL Ei4 and the newest developments of its four decades of ground-breaking, approachable, green mobility solutions have been among the highlights of this week's DAHON booth's thrilling visitors. The CURL Ei4 electric development of the well-known CURL model from DAHON was unveiled for the first time at Eurobike. It is powered by a 36V/250W motor and 36V/7AH battery, and it is made with robust Fat Wheels and CURL's winning mix of quick 3-point folding, a roller rack, and 4 internal hub gears. This electric bike is the smallest of those produced by DAHON so far. With the new products, DAHON continues to energize its electric lineup with the quick-folding e-scooter ES-2 and electrified versions of fan favorites like the GB-2 Electric, K ONE Mid Motor, and Ciao E7. The foldable e-bike lineup is completed with the wildly popular Unio E20.

Global Folding Bicycle Market By Size 2021 (%), 2019 (%)

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Folding Bicycle Market Regional Insights

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.

Global Folding Bicycle Market By Geography, 2021-2028, 2024-2031
  • Largest
  • Fastest

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Folding Bicycle Market Dynamics

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.

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Folding Bicycle Market Competitive Landscape

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.

Top Players in the Global Folding Bicycle Market

Folding Bicycle Market Recent Developments

  • 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.

Folding Bicycle Key Market Trends

  • 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.
  • The focus on reducing the pollution and helping the environment green is major trend among the society. The folding bicycle aids the growth of a healthy environment.

Folding Bicycle Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global folding bicycle market analysis, in terms of size, the 26 inches segment held the largest share in the global folding bicycle market due to its increasing usage while mountain biking. On the basis of type, the largest share was held by the electric segment because governments and environmentalists have been very concerned about rising global carbon emissions as a result of fuel burning for the past few decades. This in turn increases demand for electric cars throughout the world, supporting the market expansion for foldable bikes. And by region, the largest share was held by the European region. 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.

Report Metric Details
Market size value in 2019 USD 934.49 million
Market size value in 2031 USD 2012.29 million
Growth Rate 8.9%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Size
    • 20 inches, 24 inches, 26 inches
  • Drive Type
    • Conventional, Electric
  • Distribution Channel
    • Online, Offline
  • Folding Type
    • Vertical Type, Horizontal Type
  • Material
    • Aluminum, Steel, Carbon Fiber, Titanium
  • Price Range
    • Low Range, Medium Range, Premium Range
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered

Folding Bicycle Market Recent Developments

  • 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.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Folding Bicycle Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Folding Bicycle Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Folding Bicycle Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Folding Bicycle Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Folding Bicycle Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Folding Bicycle Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

Folding Bicycle Market size was valued at USD 934.49 million in 2019 and is poised to grow from USD 1015.66 million in 2023 to USD 2012.29 million by 2031, growing at a CAGR of 8.9% in the forecast period (2024-2031).

The 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 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.

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Global Folding Bicycle Market

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