Key Companies in Folding Bicycle Market are Dahon (Los Angeles, California, U.S.), A-bike (London, U.Okay.), Giant Bicycle (Taichung City, Taiwan), Helix (Toronto, Canada), Bike Friday (Oregon, U.S.), Montague Bikes (Massachusetts, U.S.), Brompton Bicycle (London, U.Okay.), Gogobike (Tuen Mun, Hong Kong), Birdy Bike (Germany), Forever Bicycle (Shanghai, China)
Pune, India, Feb. 14, 2022 (GLOBE NEWSWIRE) — The international folding bicycle market dimension is anticipated to hit USD 1.61 billion by 2028 with beautiful a CAGR of 10% through the forecast interval. Fortune Business InsightsTM has introduced this info in its report titled, “Folding Bicycle Market, 2021-2028”. The market dimension stood at USD 1.06 billion in 2020 and USD 0.82 billion in 2021.
Factors equivalent to excessive portability, rising urbanization, and the event of light-weight product choices are estimated to amplify the market progress within the coming years. Additionally, rising native commute wants have propelled the demand for folding bicycle to advertise inexperienced mobility and keep away from lengthy, exhausting site visitors jams.
Industry Development:
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May 2021: Dahon, a folding bicycle pioneer, unveiled its newest merchandise in Shanghai’s China Cycle 2021.
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Report Scope & Segmentation
Report Coverage |
Details |
Forecast Period |
2021 to 2028 |
Forecast Period 2021 to 2028 CAGR |
10% |
2028 Value Projection |
USD 1.61 Billion |
Base Year |
2020 |
Market Size in 2020 |
USD 0.82 Billion |
Historical Data for |
2017 to 2019 |
No. of Pages |
200 |
Segments lined |
Propulsion Types, Application sort and Geography |
Growth Drivers |
Collaboration of Brompton Cycles with Freitag to place a spin on backpacks |
The health phase is predicted to be the main phase on this market through the forecast interval |
|
The typical phase dominates the market |
To get to know extra in regards to the short-term and long-term influence of COVID-19 on this market,
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Market Growth Factors:
The adoption of stringent social distancing practices, strict lockdown, and curfew has positively influenced the market progress through the pandemic. The demand for bicycles rose through the pandemic as folks feared contracting the virus by way of public transportation. Additionally, rising well being and health regimes adopted by folks to reinforce their well being through the pandemic boosted the demand for e-bikes and standard bikes. The Folding Bicycle Market is predicted to increase within the forthcoming years.
Governments of varied international locations are taking initiatives to cut back the carbon footprints by encouraging the usage of electrical bikes, electrical automobiles, and bicycles, owing to extend in consciousness towards the hazardous results of utilizing automobiles working on fossil fuels.
Majority of the city inhabitants is going through site visitors associated issues of their each day life-style. Long car queue and hours spent in jams are anticipated to power the shoppers to buy foldable bicycle as a way to journey well timed and safely throughout the metropolis limits.
The growth of light-weight and transportable folding cycles to suffice city transportation wants can also be projected to favor market progress. The rising gross sales of electrical bicycles and one-wheeler scooters following the micro-mobility idea are anticipated to amplify the market progress within the coming years.
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Europe to carry the biggest market share
Europe is projected to carry the biggest folding bicycle market share. The excessive desire for bicycles as a commuting medium in European international locations equivalent to Italy, France, Germany, and the U.Okay. is predicted to favor the market progress. Additionally, favorable authorities initiatives within the Netherlands and France for utilizing setting=pleasant automobiles are anticipated to create profitable progress alternatives for the market.
Competitive Landscape:
Key Players Showcase New Product Offerings to Attract Folding Bicycle Market Growth
The market includes varied market gamers that emphasize product growth and innovation to ship superior merchandise. They undertake a number of progress methods, together with partnerships, collaborations, mergers, and acquisitions to spice up their market presence and revenues.
For occasion, Dahon launched the “HIT bike” in January 2021. The bike weighs round 26.6 kilos and runs on a nine-speed drivetrain.
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List of Key Players in Folding Bicycle Market:
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Dahon (Los Angeles, California, U.S.)
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A-bike (London, U.Okay.)
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Giant Bicycle (Taichung City, Taiwan)
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Helix (Toronto, Canada)
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Bike Friday (Oregon, U.S.)
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Montague Bikes (Massachusetts, U.S.)
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Brompton Bicycle (London, U.Okay.)
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Gogobike (Tuen Mun, Hong Kong)
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Birdy Bike (Germany)
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Forever Bicycle (Shanghai, China)
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