Global Folding Bikes Market is valued at USD 783.65 Million in 2021 and expected to reach USD 1378.24 Million by 2028 with a CAGR of 8.40% over the forecast period.
Folding Bikes Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028. Growing health issues amongst users coupled with increase the requirement of folding bicycle due to obesity or overweight is propelling the growth of the global folding bikes market.
The folding bikes are usually compact and can be working as a transportation mode in an educational and industrial sector. Folding bikes have easy functionality to transport on public transportation systems. Folding bikes can be useful to bring anywhere makes it easier for health buffs to balance going to work and getting enough exercise. Folding bikes offered features to provide convenient carriage of bicycles up the stairs, potential prevention of theft and minimum storage space makes the popularity of folding cycles in urban commute. Folding bikes have end use application in sports, fitness and commercial.
Folding bikes market report is segmented on the basis of product, size, application, distribution channel and by regional & country level. Based upon product, folding bikes is classified into conventional and electric. Based upon size, folding bikes market is classified into 20”, 24”, 26” and others. Based upon application, folding bikes market is classified into sports, fitness and commercial. Based upon distribution channel, folding bikes market is classified into online and offline.
The regions covered in this folding bikes market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of folding bikes is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Folding bikes Market report covers prominent players are
Jul 12, 2018 – British bicycle manufacturer, Hummingbird Bike has launched electric foldable bike with the weight of 10.3 kg and made with 160 watt lithium battery and top speed of 25kmph and a travel range of 30+ km on a single charge. The Hummingbird Electric is powered by a brushless 250 W motor and has the highest power to weight ratio on the market.
Growing health issues amongst users along with increasing requirement for folding bicycle due to obesity or overweight health issues is propelling the growth of the global folding bikes market. According to WHO, more than 1.9 billion adults, 18 years and older, were overweight and over 650 million were obese in 2016. Most of the world's populations live in countries where overweight and obesity kills more people than underweight. Moreover, consumer awareness relating to environmental pollution, personal health, fitness, growing population and urbanization, growing sports events, increasing disposable incomes in developing economies, these factors will increases the folding bikes market growth in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe. In fact, a customer prefers convenience of online shopping and doorstep delivery of foldable bikes will further boost market growth over the forecast period.
In addition, offline distribution channel has biggest demand where users can select their tailored colors and designs and huge number of users selects to buy from offline channel due to the accessibility of test drive options. Thus, availability of different branded goods in domestic supermarkets or other shops will fuel the requirement for offline channel of folding bikes market in the forcaste peried. However, increasing prices of foldable bikes and high cost with limited resources of raw materials will hamper the development of folding bikes market. However, Advance technology in folding bikes and innovations in raw material are expected to boost the opportunity for the growth of folding bikes market.
North America is expected to dominate the folding bikes market with the highest share followed by Europe due to rising awareness among the people about advanced development in bikes, growing concern for heath issue like obesity and overweight, rapid economic recovery, growth in population & urbanization and increase in government efforts to support on the usage of environment friendly vehicles. These factors are expected to contribute to the regional growth in the forecast period. The Centers for Disease Control and Prevention, nearly 1 in 5 school-age children and young people aged 6 to 19 years in the United States has obesity. According to the Our World in Data, UN estimates report that 54 % of people in the world lived in urban areas in 2016 and United Nation will projected that 68 % of the world’s population live in urban areas by 2050.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to increasing popularity of sports events in emerging countries, such as China and India. Further, increasing disposable incomes of middle-class families and growing concern relating health fitness in Asia Pacific is boosting the demand of foldable bikes for exercise. Thus, these factors are expected to contribute to the regional growth in the forecast period. Furthermore, Growing housing prices in populated cities due to rapid urbanization and minimum storage space prefer to buy compact product will fueling the folding bikes market in forcaste period.
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 783.65 Million|
|Base year considered||2021|
|Forecast Period CAGR %:||8.40%|
|Market Size Expected in 2028:||USD 1378.24 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Allen Sports, Bike Friday, Birdy Bike, Brompton Bicycle Ltd., Citizen Bike, Dahon (BYA International), EuroMini, Gocycle, Montague Corporation, Pacific Cycles, Schwinn (Dorel Industries), Strida, Tern Bicycles, Vilano, Xootr, Others.|
|Segments Covered||By Product, By Drive Type, By Size, By Application, By Price Range, By Distribution Channel|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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