Market Size –
The folding bikes market size has grown rapidly in recent years. It will grow from $0.81 billion in 2023 to $0.89 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to increased urbanization, growing environmental concerns, a growing development of bike-friendly infrastructure, a growing shift in consumer lifestyles, and increased traffic congestion in urban centers.
The folding bikes market size is expected to see rapid growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to growing economic stability and disposable income levels, rising supportive government policies, a rise in the aging population, an increasing number of urban dwellers, stricter environmental regulations and emissions standards, and growing awareness of health and wellness benefits. Major trends in the forecast period include technological advancements, product innovation, e-mobility integration, sustainable materials and manufacturing practices, integration with urban mobility solutions, and integration of digital technologies.
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Scope Of Folding Bikes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Folding Bikes Market Overview
Market Drivers –
The rising interest in cycling as a fitness and recreational activity is expected to propel the growth of the folding bike market going forward. Cycling, as a fitness and recreational activity, involves riding bicycles for exercise, enjoyment, and leisure. The interest in cycling is due to growing awareness of the health benefits associated with regular exercise, concerns about environmental sustainability and carbon emissions, and a desire for alternative modes of transportation to reduce commuting costs. The increasing interest in cycling as a fitness and recreational activity has increased demand for convenient transportation solutions, such as folding bikes, which offer portability and versatility for urban commuters and enthusiasts alike. For instance, in December 2023, according to a report published by Transport For London, a UK-based local government body responsible for the transport network, the number of daily cycle journeys in London increased in 2023 to an estimated 1.26 million per day, up by 6.3% from 1.19 million in 2022. Additionally, 24% of people based in London reported having cycled in the last year, up from 21% in 2019 and 2020. Therefore, rising interest in cycling as a fitness and recreational activity drives the folding bike market.
Market Trends –
Major companies operating in the foldable bikes market are developing compact motorcycles to expand their product offerings and cater to a broader range of customers. Compact motorcycles are portable, lightweight personal mobility devices designed for urban commuting, featuring a foldable design for easy storage and convenience. For instance, in September 2023, Honda Motors Co. Ltd., a Japan-based automobile company, launched the Moto Compacto, a foldable electric scooter designed for customizable and fun urban mobility solutions. It features a 490-watt electric motor, a top speed of around 15 mph, and a range of up to 12 miles. It is also designed to be highly customizable, with Honda offering a range of accessories and parts for personalization, and it is intended to complement Honda’s upcoming electric vehicles, such as the Prologue and Acura ZDX, providing a last-mile transportation solution.
The folding bikes market covered in this report is segmented –
1) By Product Type: Mid-Fold, Vertical Fold, Triangle Hinge
2) By Drive Type: Conventional, Electric
3) By Price Range: Low, Economy, Premium
4) By Applications: Sports, Fitness, Commercial, Other Applications
5) By Distribution Channel: Offline, Online
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Regional Insights –
Asia-Pacific was the largest region in the folding bikes market in 2023. The regions covered in the folding bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the folding bikes market are Decathlon S.A., Brompton Bicycle Ltd., Pacific Cycles Inc., Riese And Müller GmbH, Ming Cycle Industrial Co. Ltd., Tern Bicycles Inc., Romet Sp. z o.o., Bike Friday, Montague Corporation, Raleigh UK Ltd., Ningbo Bestar Co. Ltd., Gocycle, Wattbike Ltd., Allen Sports LLC, Dahon North America Inc., Airnimal Bikes Ltd., Mobility Holdings Ltd., Bobbin Bicycles Ltd., Hummingbird Bike Company Ltd., Zizzo Bike LLC, Moulton Bicycle Company Ltd., Citizen Bike, Strida Ltd., Tyrell Corporation, Helix Labs Inc
Table of Contents
1. Executive Summary
2. Folding Bikes Market Characteristics
3. Folding Bikes Market Trends And Strategies
4. Folding Bikes Market – Macro Economic Scenario
5. Global Folding Bikes Market Size and Growth
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31. Folding Bikes Market Other Major And Innovative Companies
32. Global Folding Bikes Market Competitive Benchmarking
33. Global Folding Bikes Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Folding Bikes Market
35. Folding Bikes Market Future Outlook and Potential Analysis
36.Appendix
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