Global Foldable Electric Vehicle Market to Reach USD 19,310.52 Million by 2032 | CAGR of 9.8%

Category : Semiconductor And Electronics | Published Date : Jan 2025 | Type : Press Release

Foldable Electric Vehicle Market Scope & Overview:

In the newly published report, Consegic Business Intelligence states that the Foldable Electric Vehicle Market is projected to grow from USD 9,167.54 million in 2024 to USD 19,310.52 million by 2032, at a CAGR of 9.8% during the forecast period. Foldable electric vehicles are compact and portable transportation solutions designed for urban commuting and last-mile connectivity. These vehicles feature foldable frames, rechargeable batteries, and lightweight structures, ensuring ease of storage, portability, and eco-friendly operation.

These vehicles are available in various forms, including foldable electric scooters, bicycles, and motorbikes, equipped with smart connectivity features such as GPS tracking, adjustable speed control, and anti-theft systems. They serve as an effective solution for addressing traffic congestion, parking limitations, and sustainable transportation challenges in modern urban environments.

The report comprises the Foldable Electric Vehicle Market Share, Size & Industry Analysis, based on Product Type (Foldable Electric Scooters, Foldable Electric Bicycles, Foldable Electric Motorbikes, Others), Battery Type (Lithium-Ion Batteries, Lead-Acid Batteries, Nickel-Metal Hydride Batteries, Others), Mode of Operation (Manual, Semi-Autonomous, Fully Autonomous), Distribution Channel (Online Retail, Offline Retail), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2025-2032.

The report contains detailed information on Foldable Electric Vehicle Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.

The increasing demand for sustainable urban mobility solutions is driving market growth, as foldable electric vehicles provide convenience, cost efficiency, and eco-friendliness. Additionally, the adoption of these vehicles for last-mile delivery solutions presents new opportunities, particularly in sectors such as e-commerce, food delivery, and smart transportation systems.

Segmental Analysis :

Based on product type, the market is segmented into foldable electric scooters, foldable electric bicycles, foldable electric motorbikes, and others.

  • The foldable electric scooters segment accounted for the largest revenue share in 2024, driven by high adoption in urban commuting, affordability, and lightweight design. The integration of smart features like app connectivity and anti-theft security further boosts its dominance.
  • The foldable electric bicycles segment is anticipated to grow at the fastest CAGR, owing to dual functionality in pedal-assisted and electric modes, making them suitable for fitness, recreation, and daily commuting.

Based on battery type, the market is segmented into lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries, and others.

  • The lithium-ion batteries segment held the largest revenue share in 2024 due to its high energy density, fast charging capability, and long lifespan. These batteries enhance range efficiency and lightweight design, making them the preferred choice.
  • The nickel-metal hydride batteries segment is expected to grow steadily, supported by durability, eco-friendliness, and performance reliability under extreme conditions, making them suitable for specific cost-sensitive applications.

Based on mode of operation, the market is segmented into manual, semi-autonomous, and fully autonomous.

  • The manual segment accounted for the largest revenue share of 37.5% in 2024, driven by affordability, simplicity, and suitability for short-distance travel. The cost-effectiveness and ease of use contribute to strong demand, especially in emerging markets.
  • The semi-autonomous segment is anticipated to grow at the fastest CAGR, supported by the integration of self-balancing mechanisms, cruise control, and automated braking systems. Smart connectivity features improve convenience and commuting efficiency.

Based on distribution channel, the market is segmented into online retail and offline retail.

  • The offline retail segment accounted for the largest revenue share in 2024, as customers prefer hands-on product evaluation, in-store consultations, and test rides before purchasing foldable electric vehicles.
  • The online retail segment is projected to grow at the fastest CAGR, owing to e-commerce penetration, availability of discounts, and doorstep delivery services. Manufacturers are expanding their online presence through official brand websites and third-party marketplaces.

Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.

  • Asia-Pacific dominated the market in 2024, valued at USD 2,699.92 million, with China accounting for 31.6% of the regional revenue. The region benefits from rapid urbanization, high population density, and strong demand for compact mobility solutions.
  • North America is expected to reach USD 6,258.54 million by 2032, driven by supportive government policies, eco-friendly transport adoption, and the rising popularity of electric micro-mobility solutions.
Report Attributes Report Details
Study Timeline 2019-2032
Market Size in 2032 USD 19,310.52 Million
CAGR (2025-2032) 9.8%
Product Type Foldable Electric Scooters, Foldable Electric Bicycles, Foldable Electric Motorbikes, Others
Battery Type Lithium-Ion Batteries, Lead-Acid Batteries, Nickel-Metal Hydride Batteries, Others
Mode of Operation Manual, Semi-Autonomous, Fully Autonomous
Distribution Channel Online Retail, Offline Retail
By Region North America(U.S., Canada, Mexico)
Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe)
APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific)
Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA)
LATAM(Brazil, Argentina, Chile, Rest of LATAM)

Top Key Players & Competitive Landscape :

The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.

List of prominent players in the Foldable Electric Vehicle Industry:

  • City Transformer (Israel)
  • Gocycle (UK)
  • Pacific Cycles (Taiwan)
  • EV Rider (USA)
  • Evfarm India Private Limited (India)
  • Xpeng Aero HT (China)

Recent Industry Developments :

  • December 2024: Gocycle launched a new foldable e-bike model featuring an advanced lightweight frame, enhanced battery range, and AI-powered pedal assistance, strengthening its market position in urban mobility solutions.
  • November 2024: EV Rider introduced a compact foldable electric scooter designed for last-mile connectivity, with an emphasis on improved portability and smart app connectivity features.
  • October 2024: Pacific Cycles collaborated with technology firms to integrate AI-based navigation and self-balancing systems into foldable electric vehicles, enhancing user safety and convenience.