According to the global folding bike market report by IMARC Group, the market reached a value of US$ 783.3 Million in 2022, and it is projected to reach a value of US$ 1,202.2 Million by 2028, exhibiting a growth rate (CAGR) of 6.99% during 2023-2028.
Folding bikes are two-wheeled vehicles that are folded into a small size for easy transportation. They have compact wheels for quicker acceleration, better speed pickup, convenient storage, etc. Folding bikes can be of various types, such as mid-fold, vertical fold, triangle hinge, etc. They offer a space-saving solution for urban riders and commuters to fit into congested areas. Folding bikes offer comfort and enhanced mobility as compared to the conventional ones on account of their weight, durability, and high performance. As a result, they find widespread applications across several sectors, including sports, fitness, commercial, etc.
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Folding Bike Market Trends and Drivers:
The escalating traffic levels in urban areas are primarily driving the folding bike market. Besides this, the growing consciousness among individuals towards personal health and fitness, owing to their sedentary lifestyles and the elevating frequency of chronic diseases, is further augmenting the market growth.
Apart from this, the implementation of stringent regulations by government bodies aimed at supporting eco-friendly means of transportation, on account of the rising air pollution levels, is also catalyzing the global market. Moreover, the extensive availability of these vehicles through online and offline stores is acting as another significant growth-inducing factor.
Furthermore, the increasing development of separate cycling routes and the expanding technological advancements in bicycling infrastructures by leading market players are expected to bolster the folding bike market in the coming years.
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Global Folding Bike Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Folding Bike Companies:
Bickerton Portables, Bike Friday, Bobbin Bicycles, Brompton Bicycle Ltd., Dahon Bike, Giant Bicycles, Gocycle, Ming Cycle Industrial Co. Ltd., Montague Corporation, Pacific Cycles, Raleigh UK Ltd. (Accell Group N.V.) and Vilano Bikes.
The report has segmented the market on the basis of region, product type, drive type, size, price range and distribution channel.
Breakup by Product Type:
- Vertical Fold
- Mid-Fold
- Triangle Hinge
Breakup by Drive Type:
- Conventional
- Electric
Breakup by Size:
- 20”
- 24”
- 26”
- Others
Breakup by Price Range:
- Low
- Economy
- Premium
Breakup by Distribution Channel:
- Offline
- Online
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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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