Electric Bikes and Folding Bikes Market Size, Share, Growth, and Industry Analysis, By Type (Electric Bikes and Folding Bikes), By Sales Channel (Distribution and Direct-sale), and Regional Forecast to 2031

Updated On: 22 April 2024

REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global electric bikes and folding bikes market size was 15350 million in 2020. As per our research, the market is expected to reach USD 19130 million by 2027, exhibiting a CAGR of 2.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with electric bikes and folding bikes experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Electric bikes (e-bikes) are bicycles equipped with electric motors that provide pedal-assist or full-throttle power. They offer riders the ability to tackle longer distances, conquer hills with ease, and carry heavier loads. E-bikes come in various styles and are environmentally friendly, making them a versatile and sustainable transportation option, albeit typically at a higher upfront cost.

Folding bikes, on the other hand, are compact and portable bicycles designed for easy storage and transport. They are versatile, ideal for commuters and travelers, and can be used in conjunction with public transportation. While they may vary in ride quality and price, folding bikes are valued for their convenience and space-saving benefits, making them suitable for urban living and on-the-go lifestyles. Ultimately, the choice between e-bikes and folding bikes depends on individual preferences and needs.

COVID-19 IMPACT: Expansion of Bike Infrastructure to Boost Demand Significantly

COVID-19 had a life changing impact globally. The market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for electric bikes and folding bikes share experienced an increased demand.

With remote work becoming more prevalent, many people reevaluated their commuting patterns. E-bikes and folding bikes became attractive choices for short-distance commuting, offering flexibility and a convenient way to navigate urban environments. Like many industries, e-bike and folding bike manufacturers faced supply chain disruptions due to lockdowns and restrictions. This led to delays in production and increased demand, resulting in shortages and higher prices for some models.

During the pandemic, there was a surge in demand for e-bikes and folding bikes as people sought alternative transportation options to avoid crowded public transportation and maintain social distancing. Many individuals turned to these bikes for commuting, exercise, and leisure. Many cities invested in expanding their bike infrastructure and implementing pop-up bike lanes and pathways to accommodate the growing number of cyclists. This made cycling, including e-bikes and folding bikes, safer and more accessible. The market is anticipated to boost the market following the pandemic.

LATEST TRENDS

"Integration of Smart Features to Broaden Market Growth"

E-bike manufacturers have been working on enhancing battery technology, aiming for lighter, longer-lasting, and faster-charging batteries. Advances in battery tech can lead to extended range and better overall performance. Some e-bikes now come with integrated smartphone apps that allow riders to monitor battery status, track routes, and adjust power settings. This connectivity enhances the overall riding experience. Innovations in frame materials and motor design have led to lighter e-bike models that are easier to handle and transport.

Manufacturers have been refining and innovating folding mechanisms to make bikes more compact, quicker to fold/unfold, and more user-friendly. The integration of electric motors into folding bikes has become more common, offering the convenience of both portability and pedal-assist power. These are especially popular for urban commuters. Ongoing advancements in materials, such as lightweight alloys and carbon fiber, have improved the strength and durability of folding bike frames without adding excessive weight. These latest developments are anticipated to boost the electric bikes and folding bikes market.

SEGMENTATION

• 

• Request a Free Sample to learn more about this report

By Type

Based on type, the market is divided into Electric Bikes and Folding Bikes.

Electric Bikes holds a major share of the global market.

By Application

Based on application, the market is bifurcated into Distribution and Direct-sale.

Distribution as application holds a major share of the global market.

DRIVING FACTORS

"Effortless Commuting to Boost Market Share"

E-bikes provide an easier and faster mode of commuting, especially in congested urban areas. Riders can cover longer distances and arrive at their destinations without breaking a sweat, making them an attractive alternative to traditional bikes or cars. Growing environmental awareness has led to a preference for sustainable transportation options. E-bikes produce zero emissions and are seen as a greener way to travel compared to gas-powered vehicles. E-bikes still require pedaling, which provides health benefits and encourages people to engage in physical activity while enjoying the assistance of an

Electric motor. This aspect is particularly appealing to those looking for an active lifestyle. These factors are anticipated to drive the electric bikes and folding bikes market growth.

"Urban Mobility to Boost Market Growth"

With the rise of urbanization, many people live in small apartments or use public transportation. Folding bikes provide a space-saving solution for urban dwellers, making them a practical choice for city living. Folding bikes can easily be combined with other modes of transportation, such as buses, trains, and subways. This versatility encourages people to use them as part of a larger transportation network. Folding bikes are ideal for solving the "last-mile" problem, where individuals need a convenient and efficient way to reach their final destination after getting off public transit. These factors are anticipated to drive the electric bikes and folding bikes market share.

RESTRAINING FACTOR

"Limited Range to Hamper Market Share"

Despite advances in battery technology, e-bike range is still limited compared to gasoline-powered vehicles. Longer commutes may require frequent recharging, which can be inconvenient, especially if charging infrastructure is lacking. The availability of charging stations for e-bikes varies by region. In areas without adequate charging infrastructure, riders may struggle to find convenient places to recharge their batteries. The folding mechanism of these bikes can be complex and may require a learning curve for some users. Improper folding or unfolding can lead to mechanical issues. The factors are anticipated to hinder the growth of the market.

REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"Asia Pacific to Dominate the Market due to Cost-Effective Labor"

Asia Pacific is the major shareholder for the market size. The region is a global manufacturing hub for bicycles, including e-bikes and folding bikes. Many of the world's largest e-bike and folding bike manufacturers are based in this region, which gives the region a significant production advantage. The availability of cost-effective labor, extensive supply chains, and manufacturing infrastructure has allowed the region to mass-produce e-bikes and folding bikes at competitive prices.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Yadea [China]
• AIMA [China]
• Accell Group [Netherlands]
• Giant [Taiwan]
• TAILG [China]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.