Electric Folding Bike Market Research Report 2023

Electric Folding Bike Market Synopsis

The Global Electric Folding Bike Market size was valued at USD 303 Million in 2023 and is projected to reach USD 625.13 Million by 2030, growing at a CAGR of 10.90% from 2023 to 2030.

Folding electric bicycles fold into a compact shape which can be stored in a car trunk or a closet. The folding design also allows for ease of transportation. Despite the unique design choice, folding bikes still offer features that equal those found with traditional eBikes.

• An electric bike that can be folded into a more compact shape. There are several different use cases for a folding electric bicycle and some distinct advantages over traditionally designed eBikes.
• For starters, they are affordable bikes and can be used in a variety of scenarios. Its versatility makes it an excellent choice when looking for an affordable, yet versatile bike to use both on trails and in cities.
• Additionally, the battery offers long-range capabilities allowing you to go farther and longer than other electric bicycles.
• Electric folding bikes are popular among commuters who want to avoid traffic and enjoy an eco-friendlier mode of transportation. They are also great for recreational riders who want to explore new trails and travel long distances without the hassle of a traditional bike.

Top Key Players Involved Are:

"Brompton (UK), Tern Bicycles (Taiwan), Gocycle (UK), Rad Power Bikes (U.S.), Addmotor (U.S.) The Hummingbird Bicycle Company Ltd. (UK), Ecotric (U.S.), Riese & Müller (Germany), Ancheer (U.S.), Cyrusher (U.S.), DJ Bikes (Canada), Eahora (China), Montague (U.S.), QuietKat (U.S.), Rambo Bikes (U.S.), Swagtron (U.S.), X-Treme (U.S.), Aostirmotor (China), Dahon (U.S.), Eunorau (China) And Other Major Players."

Electric Folding Bike Market Trend Analysis

Rapid Urbanization Has Led to an Increase in Traffic Congestion

The rising traffic congestion resulting from rapid urbanization is a driving factor for electric folding bikes. As more people move to cities, traffic congestion has become a major problem, leading to longer commute times and increased air pollution.

• Electric folding bikes offer a convenient and efficient solution to this problem by allowing riders to easily navigate through traffic and reach their destinations faster.
• Electric folding bikes are lightweight, compact, and can be easily stored in small spaces, such as apartments or offices. They also provide pedal assistance, allowing riders to travel farther and faster with less effort, making them an ideal alternative to traditional transportation modes such as cars or public transit.
• Moreover, the increasing awareness about the need for sustainable transportation options is also driving the demand for electric folding bikes. They are eco-friendly and emit no harmful pollutants, making them a greener transportation option.
• In addition, electric folding bikes are also cost-effective in the long run, as they require less maintenance and are less expensive to operate than cars or other motorized vehicles.
• Overall, the rising traffic congestion resulting from rapid urbanization, coupled with the increasing awareness about the need for sustainable transportation options, are driving factors for the growth of the electric folding bike market.

Rising Governments Initiatives for Sustainable Transports

The rising government initiatives to stimulate growth can provide significant opportunities for the electronic folding bike industry. Governments around the world are implementing various policies and initiatives to promote sustainable transportation options, reduce traffic congestion, and curb air pollution, which can positively impact the demand for electronic folding bikes.

• For instance, many governments offer subsidies, tax incentives, and other financial incentives to encourage consumers to adopt electric bikes, including folding bikes.
• In addition, governments are also investing in infrastructure, such as bike lanes and charging stations, to support the growth of the electric bike market.
• Moreover, initiatives such as bike-sharing programs and e-bike rental services are also gaining popularity, presenting a potential opportunity for the electronic folding bike industry to provide their products to these programs. Furthermore, the COVID-19 pandemic has also increased the demand for personal transportation options, and electronic folding bikes offer a safe and efficient solution.
• Overall, the rising government initiatives to stimulate growth in the sustainable transportation sector can provide significant opportunities for the electronic folding bike industry to grow and expand its market share.

Segmentation Analysis of The Electric Folding Bike Market

Electric Folding Bike Market segments cover the Type and Distribution channel. By Type, the Portable Fold-Up Bike segment is Anticipated to Dominate the Market Over the Forecast period.

• The portable fold-up bike segment is anticipated to dominate the electric folding bike market, as it offers several benefits over other segments. Portable fold-up bikes are lightweight and compact, making them easy to carry and store in small spaces, such as apartments, offices, or public transportation.
• These bikes are designed for urban commuters who need a convenient and efficient mode of transportation to navigate through traffic and reach their destinations quickly. Portable fold-up bikes also offer pedal assistance, which enables riders to travel longer distances with less effort, making them an ideal alternative to traditional modes of transportation, such as cars or public transit.
• Moreover, the increasing awareness about the need for sustainable transportation options is driving the demand for portable fold-up bikes, as they are eco-friendly and emit no harmful pollutants, making them a greener transportation option. In addition, the cost-effectiveness of these bikes is also a major factor driving their popularity, as they require less maintenance and are less expensive to operate than cars or other motorized vehicles.
• Concluding, the portable fold-up bike segment is anticipated to dominate the electric folding bike market due to its convenience, efficiency, eco-friendliness, and cost-effectiveness. As more people embrace sustainable transportation options, the demand for portable fold-up bikes is expected to continue to grow, driving the growth of the overall electric folding bike market.

Regional Analysis of The Electric Folding Bike Market

Asia Pacific is Expected to Dominate the Market Over the Forecast Period.

• This can be attributed to several factors, including the region's high population density, rapid urbanization, and rising demand for eco-friendly transportation options. Countries in the Asia Pacific region, such as China, Japan, and South Korea, have a large population that is increasingly aware of the environmental impact of traditional modes of transportation, such as cars. As a result, there will be a growing demand for electric folding bikes.
• Moreover, the rapid urbanization in the region has led to increasing traffic congestion and longer commute times. This has further fuelled the demand for electric folding bikes, which are convenient and efficient for navigating through traffic and reaching destinations quickly
• In addition to it, the region has several well-established manufacturers of electric folding bikes, such as Brompton, Tern, and Gogoro, which will help to drive the growth of the market.
• Overall, the Asia Pacific region's large population, rapid urbanization, and growing demand for sustainable transportation options will make it the dominating region in the electric folding bike market.

Covid-19 Impact Analysis on Electric Folding Bike Market

• The COVID-19 pandemic has had both positive and negative impacts on the electric folding bike market.
• On the one hand, the pandemic has caused a global disruption in supply chains and manufacturing, leading to shortages of electric folding bikes in some regions. This has resulted in an increase in the price of electric folding bikes in some markets, as well as longer wait times for delivery.
• However, on the other hand, the pandemic has also led to an increase in demand for electric folding bikes, as more people seek out alternative modes of transportation to avoid public transit and reduce their risk of exposure to the virus. Electric folding bikes offer a convenient and efficient way for people to travel short to medium distances while maintaining social distancing.

Top Key Players Covered in The Electric Folding Bike Market

• Brompton (UK)
• Tern (Taiwan)
• Gocycle (UK)
• Rad Power Bikes (U.S.)
• Addmotor (U.S.)
• Hummingbird (UK)
• Ecotric (U.S.)
• Riese & Müller (Germany)
• Ancheer (U.S.)
• Cyrusher (U.S.)
• DJ Bikes (Canada)
• Eahora (China)
• Montague (U.S.)
• QuietKat (U.S.)
• Rambo Bikes (U.S.)
• Swagtron (U.S.)
• X-Treme (U.S.)
• Aostirmotor (China)
• Dahon (U.S.)
• Eunorau (China) and Other Major Players.

Key Industry Developments in the Electric Folding Bike Market

In May 2023, British brand Zinc Sports has launched a new electric folding bike, with the Folding Electric Eco Pro arriving with a sub £1000 price tag. The micro-mobility brand produces a range of electrified two-wheelers, including bikes, scooters, and skateboards.

In March 2023, Electric vehicle startup EMotorad entered the Australian market with its e-bicycles, tapping the opportunity opening up with the signing of the Indo-Australian economic cooperation and trade agreement. The firm has exported its first lot of 200 foldable electric bikes to a partner based in Melbourne.