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IMARC Group, a leading market research company, has recently releases a report titled“ Folding Bike Market Report by Product Type (Vertical Fold, Mid-Fold, Triangle Hinge), Drive Type (Conventional, Electric), Size (20”, 24”, 26”, and Others), Price Range (Low, Economy, Premium), Distribution channel (Offline, Online), and Region 2024-2032. ” The study provides a detailed analysis of the industry, including the global folding bike market trends , size, report, share and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the f olding bike m arket?
The global folding bike market size reached US$ 838.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,468.6 Million by 2032, exhibiting a growth rate (CAGR) of 6.3% during 2024-2032.
What is
Folding Bike ?
Folding bikes, also known as foldable bicycles, are compact and portable bicycles that can be easily folded into a smaller, more manageable size for convenient storage and transportation. They are ideal for daily commuters who need a convenient and eco-friendly mode of transportation. They are an excellent solution for those with limited storage space, as they can be stored in apartments, offices, or even the trunk of a car without taking up much room. They are accessible to a wider range of individuals, including those who may have difficulty lifting or maneuvering a full-sized bicycle due to their lightweight design and ease of use. They can be easily folded and taken on public transportation, such as buses and trains, making the overall commute more efficient. They seamlessly integrate with other forms of transportation, such as cars and taxis. They allow users to reach their destination without the need for additional parking or storage. They enable cyclists to navigate through crowded streets, explore parks, and visit various attractions without the hassle of finding bike racks. They can be easily folded within seconds, reducing their size to a fraction of a regular bicycle, which makes them convenient to carry on public transportation, store in small living spaces, or take on trips. They contribute to reducing carbon emissions and minimizing their environmental footprint by promoting sustainable transportation options and reducing the reliance on fossil fuels. They can also be used for recreational cycling in suburban areas, parks, and scenic routes, offering cyclists the freedom to explore different terrains.
Folding Bike Market Trends and Industry Demand:
At present, as urban populations are growing, cities around the world are facing increasing traffic congestion and limited parking spaces. Folding bikes offer a practical solution to navigate congested streets, making commuting faster and more efficient. Their compact size allows commuters to easily store them at home or in offices, eliminating the need for extensive parking space. Besides this, rising environmental concerns are prompting individuals to seek eco-friendly transportation alternatives. Folding bikes are viewed as a sustainable mode of travel, as they produce zero emissions and reduce the reliance on cars or public transportation powered by fossil fuels.
Many environmentally conscious individuals are choosing folding bikes to reduce their carbon footprint. In addition, the concept of multimodal transportation, which involves seamlessly combining various modes of travel, is gaining traction across the globe. Folding bikes fit perfectly into this paradigm by allowing users to integrate cycling with public transit systems like buses and trains. This convenience encourages people to use folding bikes for their daily commute, addressing the first and last-mile connectivity problem.
Moreover, folding bikes cater to individuals who live in small apartments or have limited storage space. Their ability to fold into a compact size makes them a practical choice for urban dwellers who may not have the room to store a conventional bicycle.
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Who are the leaders in the f olding bike
market?
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
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
Vertical Fold Mid-Fold Triangle Hinge
Breakup by Drive Type:
Breakup by Size:
Breakup by Price Range:
Breakup by Distribution Channel:
Breakup by Region:
North America: (United States, Canada) Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
Key highlights of the report:
Market Performance Market Outlook Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
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