Folding Bikes Market to hit US $1,360.9 million by 2028 – Industry Analysis by Increase in Sports Events, Government Initiatives, Cumulative Impact of COVID-19, Distribution Channel, Regional Growth: Adroit Market Research
The increasing trend of introducing bicycles is expected to fuel the growth of the folding bike market by 2028, when new entrants from developing countries such as India, Japan, China and other countries emerge.
Dallas, Texas, October 25, 2021 (GLOBE NEWSWIRE) – The global folding bikes market size is likely to forecast a CAGR of nearly 7.7% in the forecast years 2021-2028. A folding bike allows the user to fold a bike into a compact shape for proper transportation and storage. The first advantage of folding bikes is intermodality. In contrast to conventional bicycles, the folding bike is much easier to combine with other means of transport. Folding bikes also have small wheels, a low frame, and an adjustable handlebar. Most models are primarily designed for urban use. In addition, these folding bikes can be easily transported in passenger vehicles.
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The current and future market advances for folding bikes are summarized in order to assess the attractiveness of the entire market. Also main factors influencing the market opportunities for folding bikes in the forecast years. Factors such as increasing health awareness and concerns about global pollution. is the key driver of the folding bike market growth.
In addition, the folding bikes can be taken anywhere as they are light and the foldable nature of these bikes helps reduce the space of the bikes when traveling to more distant locations, as the space required to carry them is very small, is another factor that the market drives growth. However, the high cost of e-bikes is the only factor holding back market growth. In addition, improvements in bicycle infrastructure and battery technology should offer lucrative development opportunities for the car subscription market in the coming years.
The report also highlights some specifics of the global Folding Bike industry by benchmarking the market based on the value chain breakdown. Additionally, the report encompasses numerous qualitative characteristics of the Folding Bike industry that includes market restraints, drivers, as well as key industry opportunities. Additionally, the report provides a comprehensive assessment of the company profile as well as the market rivalry of local and global vendors.
The story goes on
the Folding bike market has fierce competition between the new emerging and established market providers. In addition, the providers of the folding bike industry are trying to conquer the potential markets in order to gain a competitive advantage over the remaining industry providers. In order to conquer the market, market participants make agreements, acquire other companies and start-ups, mergers and acquisitions, partnerships and collaborations and increase their business existence.
In terms of sales channel, the market is divided into offline and online. The greatest growth is forecast for the online segment in the forecast years 2021-2028. On the other hand, the same segment reached maximum market share in 2020 and is likely to maintain its place in the forecast years. It is because of the attractive discounts on each product that consumers are attracted to purchase through this channel.
The Asia-Pacific region is likely to see significant growth in the forecast years 2021-2028. The growth of the folding bike market in this region is mainly attributed to countries such as China and Japan, which use the latest technologies and offer innovative bikes for fitness and commercial applications. However, the largest market contribution in the forecast years is likely to come from the North America region. The dominance of this region is largely attributed to the increased traffic congestion on the region’s roads.
The major players in the global folding bike market are Bickerton Portables, Bobbin Bicycles Ltd., Brompton Bicycle Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes, Giant Bicycles, Dahon, Gocycle and Ming Cycle. In addition, Raleigh UK Ltd. and Hummingbird Bike are other potential players in the folding bike market. Well-known companies offer new and modern folding bike software solutions. In addition, both the previously recognized and new market participants are entering the market with progressive and new strategic services and solutions and want to remain competitive on the world market.
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table of contents
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Summary
Chapter 4 Market Outlook
Chapter 5 Folding Bikes Market by Product Type
Chapter 6 Folding Bikes Market by Propulsion Type
Chapter 7 Folding Bikes Market By Application
Chapter 8 Folding Bikes Market by Price Range
Chapter 9 Folding Bikes Market by Distribution Channel
Chapter 10 Folding Bikes Market by Regions
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
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