Global Folding Bikes Market set to Surpass Market Valuation of USD 221.6 MN By 2025
Posted On December 27, 2018
As per the updated analysis by Value Market Research, the Global Folding Bikes Market was valued USD 157.5 MN (by revenue) in 2018 and is anticipated to reach USD 221.6 MN by 2025. The market expects a CAGR of 5% in the next six years. The report throws light on various facets of the market segmenting it broadly by product type, wheel size, application, price range and regions. The market forecast and market trends are based on the latest developments and market evaluation by expert analysts.
The rising focus on innovation continues to generate new growth avenues in the bike production industry. Folding bikes are basically smaller than a conventional bicycle and as the name suggest they can be folded up or reduced into a convenient size/shape, they can be easily packed and transported on long distance traveling without facing much hassle.
The report "Global Folding Bikes Market Report By Product Type (Mid-Fold, Vertical Fold, Triangle Hinge, Magnet Folding, Suspension System And Others), By Wheel Size (20 Inch, 24 Inch, 26 Inch, 700 Cc And Others), By Application (Sports, Fitness And Commercial), By Price Range (Premium, Economy And Low) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" comprises of current and forthcoming market trends to advocate the expected lucrative markets along with the drivers, market restraints, and their effect on the market progression.
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Multiple factors have been observed which provoke commuters to opt for the bicycle as a mode of transportation such as an endless stream of traffic, long distance between home and workplace and growing need to reduce commute time and cost. Moreover, growing awareness towards the environment and health fitness have also motivated people to adopt bicycle. Nowadays, manufacturers are coming up with new designs and advanced features to meet the expectations of modern consumers is expected to fuel market growth. The increasing level of health awareness among people, rising fuel prices along with advantages associated with the bicycle is again propelling market growth globally. On the flip side, issues associated with design, safety and performance limitation is the only factor that limits the market growth.
Segmentation section of the report covers type, wheel size, application, price range, and region. Type segment includes mid-fold, vertical fold, triangle hinge, magnet folding, suspension system and others. Mid-fold type is gaining hype in the market since it offers quick-release clamps enable raising or lowering steering and seat columns easily. By wheel size, the market segmented into 20 Inch, 24 Inch, 26 Inch, 700 Cc, and others. Out of which, 20-inch wheel size is dominating the segment this can be attributed to the compactness of these wheels since they have smaller diameter which are more adjustable to the fold and are lightweight. Application area covers sports, fitness and commercial. Fitness segment is gaining momentum owing to the increasing level of health awareness among people. By price range, the market segmented into premium, economy, and low. Among which, premium price segment is dominating and is likely to maintain its dominance over the forecast period.
Regional assessment has been done over North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Europe market is dominating the global folding bikes market owing to the formation of favorable policies to use bikes for the mode of commutation coupled with high consumer awareness towards health fitness.
The Report Segments Global Folding Bikes Market -
By Product Type
- Vertical Fold
- Triangle Hinge
- Magnet Folding
- Suspension System
By Wheel Size
- 20 Inch
- 24 Inch
- 26 Inch
- 700 Cc
By Price Range
Players Profiled In The Report:
Bickerton Portables, Di Blasi, Gocycle, Independent Fabrication, LightSpeed, Montague Crosstown, Pacific Cycles, Schwinn, Strida LT, Tern Joe and Tern Link and others.
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