Global Folding Bike Market to Reach US$ 1,202.2 Million by 2028, Impelled by Growing Traffic Congestion

June 10, 2022 | Automotive Industry

According to the latest report by IMARC Group, titled "Folding Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global folding bike market reached a value of US$ 783.3 Million in 2022. A folding bike is a two-wheeled vehicle that is easily foldable due to its compact size and is generally utilized for small commutes. It mainly comprises a handlebar, grips, brake lever and cantilever, revo-shifter, rim, spokes, front hub, tire, forks and valves. Its design and components are similar to ordinary or sports bikes. However, folding bikes are flexible, lighter and offer a range of adjustments for seat posts and handlebar stems for accommodating riders. The demand for folding bikes is gradually increasing across the globe due to their additional benefits, such as easy carrying and storage and decreased theft risk.

Global Folding Bike Market Trends:

The global market is primarily driven by the rising preference for a cost-effective personal commute solution among individuals. This is supported by the increasing traffic congestion as a consequence of rapid urbanization. With an enhanced focus on sustainable development and the growing health consciousness among the masses, there has also been a considerable rise in the demand for folding bikes. Moreover, continual technological advancements and electric folding bikes are gaining widespread prominence among individuals. Additionally, the easy product availability via organized retail channels and the advent of the convenient online delivery models are providing a boost to the sales of foldable bikes across the globe. Other factors, including the inflating disposable income levels of the masses, the growing popularity of adventurous sports, continuous improvements in the tourism industry and extensive research and development (R&D) activities conducted by key players, are further favorably impacting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,202.2 Million by 2028, exhibiting a CAGR of 6.99% during 2023-2028.

Market Summary:

On the basis of the product type, the market has been segregated into vertical fold, mid-fold and triangle hinge.
Based on the drive type, the market has been bifurcated into conventional and electric.
On the basis of the size, the market has been segmented into 20'', 24'', 26'' and others.
Based on the price range, the market has been classified into low, economy and premium.
On the basis of the distribution channel, the market has been categorized into offline and online.
Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Bickerton Portables, Bike Friday (Green Gear Cycling), Bobbin Bicycles, Brompton Bicycle Ltd., DAHON North America Inc., Giant Bicycles, Gocycle (Karbon Kinetics Limited), Ming Cycle Industrial Co. Ltd., Montague Corporation, Pacific Cycles, Raleigh UK Ltd. (Accell Group N.V.) and Vilano Bikes.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Product Type, Drive Type, Size, Price Range, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bickerton Portables, Bike Friday (Green Gear Cycling), Bobbin Bicycles, Brompton Bicycle Ltd., DAHON North America Inc., Giant Bicycles, Gocycle (Karbon Kinetics Limited), Ming Cycle Industrial Co. Ltd., Montague Corporation, Pacific Cycles, Raleigh UK Ltd. (Accell Group N.V.), Vilano Bikes, etc.
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Global Folding Bike Market to Reach US$ 1,202.2 Million by 2028, Impelled by Growing Traffic Congestion

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