Foldable Electric Vehicle Market Report by Vehicle Type (E-Bike, E-Scooters, Hoverboards), Battery Type (Sealed Lead Acid (SLA), Nickel Cadmium Battery (NiCad), Nickle-Metal Hydride (NiMH), Lithium-ion Polymer (Li-ion), Lithium Polymer Battery (Li-Po)), Distribution Channel (Offline, Online), User Age Group (Children, Adults), and Region 2024-2032

Foldable Electric Vehicle Market Report by Vehicle Type (E-Bike, E-Scooters, Hoverboards), Battery Type (Sealed Lead Acid (SLA), Nickel Cadmium Battery (NiCad), Nickle-Metal Hydride (NiMH), Lithium-ion Polymer (Li-ion), Lithium Polymer Battery (Li-Po)), Distribution Channel (Offline, Online), User Age Group (Children, Adults), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A2231
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Market Overview:

The global foldable electric vehicle market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2032, exhibiting a growth rate (CAGR) of 11.4% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 6.8 Billion
Market Forecast in 2032
US$ 18.5 Billion
Market Growth Rate 2024-2032 11.4%


Foldable electric vehicles primarily stand for lightweight and portable bikes, hoverboards and scooters that can be folded down to a compact size. Generally, these vehicles are integrated with battery-based electric motors. Owing to their minimalistic design, foldable electric vehicles are highly efficient for traffic congestion as well as for indoor parking. Apart from this, these electric vehicles are eco-friendly based on their zero-emissions along with being cost-effective by mitigating fuel-consumption and high maintenance requirements. Based on these benefits, foldable electric vehicles have gained wide popularity across the globe.

Foldable Electric Vehicle Market

The growing demand for foldable electric vehicles can be attributed to the increasing consumer inclination towards more compact and lighter vehicles with high mobility and durability. With fully occupied parking spaces and lesser number of residential projects with independent garages, these foldable vehicles occupy a significantly lower space in any standard parking spot. Furthermore, e-scooters or bikes can also be folded and stored under the rear seats of a sedan or in the boot of a compact car, thereby being a convenient mode of transportation. Moreover, the growing awareness among e-bike enthusiasts towards high compatibility and affordability of these vehicles has further catalyzed the product demand. Apart from this, rising environmental concerns coupled with the growing number of automobiles leading to crowded cities battling traffic woes further drives the market growth. Additionally, rapid modernization such as increasing charging stations across commercial infrastructures, such as shopping malls, urban centers, metro rail, etc., has propelled the utilization of foldable e-bikes for providing conveyance to cover short distances. Besides this, rising consumer disposable income levels coupled with the high prevalence of social media trends promoting the advantages of foldable electric vehicles, have also bolstered the product demand. Apart from this, various technological advancements along with the rapid integration of artificial intelligence have led to the launch of several innovative products in the market. For instance, Hyundai Motor Group launched a new-on board electric scooter that can be folded to the size of a backpack, enabling 20km range with 10.5 Ah lithium battery.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global foldable electric vehicle market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on vehicle type, battery type, distribution channel and user age group.

Breakup by Vehicle Type:

  • E-Bike
  • E-Scooters
  • Hoverboards
     

Breakup by Battery Type:

  • Sealed Lead Acid (SLA)
  • Nickel Cadmium Battery (NiCad)
  • Nickle-Metal Hydride (NiMH)
  • Lithium-ion Polymer (Li-ion)
  • Lithium Polymer Battery (Li-Po)
     

Breakup by Distribution Channel:

  • Offline
  • Online
     

Breakup by User Age Group:

  • Children
  • Adults
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Others
       

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Airwheel Holding Limited, Benelli Biciclette, GiGi Nederland B.V., Jetson Electric Bikes, Zhengzhou F-wheel Industrial Co., Ltd., Segway Inc., Jiangsu Xinri E-Vehicle Co., Ltd, TravelScoot, Trikelet, URB-E, etc 

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Vehicle Type, Battery Type, Distribution Channel, User Age Group, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia
Companies Covered Airwheel Holding Limited, Benelli Biciclette, GiGi Nederland B.V., Jetson Electric Bikes, Zhengzhou F-wheel Industrial Co., Ltd., Segway Inc., Jiangsu Xinri E-Vehicle Co., Ltd, TravelScoot, Trikelet and URB-E
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the global foldable electric vehicle market to exhibit a CAGR of 11.4% during 2024-2032.

The rising environmental concerns, coupled with the growing consumer awareness towards high compatibility and affordability of foldable electric vehicles, are currently driving the global foldable electric vehicle market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for foldable electric vehicle and delay in the R&D activities.

Based on the vehicle type, the global foldable electric vehicle market can be segmented into E-bike, E-scooters, and hoverboards.

Based on the distribution channel, the global foldable electric vehicle market has been divided into offline and online. 

Based on the user age group, the global foldable electric vehicle market can be categorized into children and adults. Currently, adults account for the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global foldable electric vehicle market include Airwheel Holding Limited, Benelli Biciclette, GiGi Nederland B.V., Jetson Electric Bikes, Zhengzhou F-wheel Industrial Co., Ltd., Segway Inc., Jiangsu Xinri E-Vehicle Co., Ltd, TravelScoot, Trikelet, URB-E, etc.

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Foldable Electric Vehicle Market Report by Vehicle Type (E-Bike, E-Scooters, Hoverboards), Battery Type (Sealed Lead Acid (SLA), Nickel Cadmium Battery (NiCad), Nickle-Metal Hydride (NiMH), Lithium-ion Polymer (Li-ion), Lithium Polymer Battery (Li-Po)), Distribution Channel (Offline, Online), User Age Group (Children, Adults), and Region 2024-2032
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