Folding Bikes Market Expected to Grow at 8.7% CAGR, Reaching USD 1,260.98 Million by 2027 | AMR
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Folding Bikes Market by Product Type, Drive Type, Application, Price Range, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the global folding bikes market size was valued at $790.90 million in 2019, and is projected to reach $1,260.98 million by 2027, registering a CAGR of 8.7%.
Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global folding bikes market share in 2019, and is expected to grow at a significant rate during the forecast period, due to increase in demand for folding bikes to avoid traffic congestion on roads.
𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A07131
Folding bikes are a form of bicycles which can be folded so as to make the bicycle compact; thus, enabling it to occupy less space. Also, when folded, the bicycles can be transported from one place to another easily due to the factor that they are made of stronger and light weight material. The need for folding bikes aroused due to increased traffic congestion on roads as well as the need to maintain fitness among individuals. This increased traffic congestion caused longer time wasting of working professionals; thus, affecting their productivity time. Thus, several governments across the globe have given permission for the usage of folding bikes so as to reduce traffic congestion on roads.
In addition, the increased trend for fitness among individuals has also supplemented the folding bikes market growth. In metropolitan cities, folding bikes are preferred due to the fact that they occupy less space when folded. Also, consumer’s preference toward the usage of bicycles for local commuting has also supported the folding market growth. Folding bikes come in different designs such as mid-fold, vertical fold, and triangle hinge so that they can be folded in different shapes; thus, ensuring that less space is consumed. Among the different design types, the vertical fold design holds major market share and is expected to grow at a significant rate during the forecast period.
By drive type, the market is categorized into conventional and electric. The conventional drive type accounted for the highest revenue in 2019. However, the electric drive type segment is anticipated to witness the highest growth rate during the forecast period, owing to increased trend for the electric-based vehicles.
On the basis of application, the folding bikes market is segregated into sports, fitness, commercial, and others. The commercial segment accounted for over majority of the market share in 2019, while the application in fitness activities is expected to grow significantly during the forecast period. In addition, the economic priced folding bikes holds a major market share in the global folding bikes market due to the factor that these bicycles have all features which are required in a folding bike. Also, the offline distribution channel for selling bikes is leading the market in 2019 and hence holds a majority of market share. Meanwhile, the online distribution channel is projected to lead the market due to the betterment of infrastructure related to online sales.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/folding-bikes-market/purchase-options
In addition, factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, and increase in fuel cost are driving the growth of the global folding bikes market. Moreover, high cost of e-bikes is the only factor which is affecting the growth of the global folding bikes market. However, improvement in bicycling infrastructure & battery technology is the factor creating lucrative opportunity and is supplementing the growth of the global folding bikes market.
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :
By drive type, the electric segment is expected to register a significant growth during the forecast period.
Depending on application, the fitness segment is anticipated to exhibit significant growth in the near future.
On the basis of price range, the low segment is projected to lead the global folding bikes market owing to higher CAGR as compared to other price range.
Depending on the distribution channel, the online distribution channel is projected to grow significantly due to better infrastructure for online sales.
North America is anticipated to register the highest CAGR.
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :
The COVID-19 outbreak impacted the automotive industry significantly, which resulted in substantial decline in automobile sales, shortage of raw material, and others.
The automotive industry players are facing issues such as complete halt of production activities, mandated plant closures by the government, unavailability of essential components, and others.
The unavailability of raw material for the production has created a negative impact on the growth of the market.
This unavailability is due to the demand and supply gap created due to the halted transportation of raw material.
The folding bikes market regained its growth trend sooner due to the factor that public transports were being neglected so as to avoid direct contact with other individual.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A07131
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Bickerton Portables,
Bobbin Bicycles Ltd.,
Brompton Bicycle Ltd.,
Montague Corporation,
Pacific Cycles,
Vilano Bikes,
Giant Bicycles,
Dahon,
Gocycle,
Raleigh UK Ltd.,
Ming Cycle.
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
Automotive Cybersecurity Market
https://www.alliedmarketresearch.com/automotive-cyber-security-market-A08901
Marine Propeller Market
https://www.alliedmarketresearch.com/marine-propeller-market
Gasoline Direct Injection (GDI) System Market
https://www.alliedmarketresearch.com/gasoline-direct-injection-system-gdi-market
Automotive Solenoid Market
https://www.alliedmarketresearch.com/automotive-solenoid-market
Automotive Carbon Wheels Market
https://www.alliedmarketresearch.com/automotive-carbon-wheels-market-A11716
𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global folding bikes market share in 2019, and is expected to grow at a significant rate during the forecast period, due to increase in demand for folding bikes to avoid traffic congestion on roads.
𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A07131
Folding bikes are a form of bicycles which can be folded so as to make the bicycle compact; thus, enabling it to occupy less space. Also, when folded, the bicycles can be transported from one place to another easily due to the factor that they are made of stronger and light weight material. The need for folding bikes aroused due to increased traffic congestion on roads as well as the need to maintain fitness among individuals. This increased traffic congestion caused longer time wasting of working professionals; thus, affecting their productivity time. Thus, several governments across the globe have given permission for the usage of folding bikes so as to reduce traffic congestion on roads.
In addition, the increased trend for fitness among individuals has also supplemented the folding bikes market growth. In metropolitan cities, folding bikes are preferred due to the fact that they occupy less space when folded. Also, consumer’s preference toward the usage of bicycles for local commuting has also supported the folding market growth. Folding bikes come in different designs such as mid-fold, vertical fold, and triangle hinge so that they can be folded in different shapes; thus, ensuring that less space is consumed. Among the different design types, the vertical fold design holds major market share and is expected to grow at a significant rate during the forecast period.
By drive type, the market is categorized into conventional and electric. The conventional drive type accounted for the highest revenue in 2019. However, the electric drive type segment is anticipated to witness the highest growth rate during the forecast period, owing to increased trend for the electric-based vehicles.
On the basis of application, the folding bikes market is segregated into sports, fitness, commercial, and others. The commercial segment accounted for over majority of the market share in 2019, while the application in fitness activities is expected to grow significantly during the forecast period. In addition, the economic priced folding bikes holds a major market share in the global folding bikes market due to the factor that these bicycles have all features which are required in a folding bike. Also, the offline distribution channel for selling bikes is leading the market in 2019 and hence holds a majority of market share. Meanwhile, the online distribution channel is projected to lead the market due to the betterment of infrastructure related to online sales.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/folding-bikes-market/purchase-options
In addition, factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, and increase in fuel cost are driving the growth of the global folding bikes market. Moreover, high cost of e-bikes is the only factor which is affecting the growth of the global folding bikes market. However, improvement in bicycling infrastructure & battery technology is the factor creating lucrative opportunity and is supplementing the growth of the global folding bikes market.
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :
By drive type, the electric segment is expected to register a significant growth during the forecast period.
Depending on application, the fitness segment is anticipated to exhibit significant growth in the near future.
On the basis of price range, the low segment is projected to lead the global folding bikes market owing to higher CAGR as compared to other price range.
Depending on the distribution channel, the online distribution channel is projected to grow significantly due to better infrastructure for online sales.
North America is anticipated to register the highest CAGR.
𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :
The COVID-19 outbreak impacted the automotive industry significantly, which resulted in substantial decline in automobile sales, shortage of raw material, and others.
The automotive industry players are facing issues such as complete halt of production activities, mandated plant closures by the government, unavailability of essential components, and others.
The unavailability of raw material for the production has created a negative impact on the growth of the market.
This unavailability is due to the demand and supply gap created due to the halted transportation of raw material.
The folding bikes market regained its growth trend sooner due to the factor that public transports were being neglected so as to avoid direct contact with other individual.
𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A07131
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Bickerton Portables,
Bobbin Bicycles Ltd.,
Brompton Bicycle Ltd.,
Montague Corporation,
Pacific Cycles,
Vilano Bikes,
Giant Bicycles,
Dahon,
Gocycle,
Raleigh UK Ltd.,
Ming Cycle.
𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
Automotive Cybersecurity Market
https://www.alliedmarketresearch.com/automotive-cyber-security-market-A08901
Marine Propeller Market
https://www.alliedmarketresearch.com/marine-propeller-market
Gasoline Direct Injection (GDI) System Market
https://www.alliedmarketresearch.com/gasoline-direct-injection-system-gdi-market
Automotive Solenoid Market
https://www.alliedmarketresearch.com/automotive-solenoid-market
Automotive Carbon Wheels Market
https://www.alliedmarketresearch.com/automotive-carbon-wheels-market-A11716
𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
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