Westford, USA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The global Folding Bicycle market size is expected to reach USD 2012.29 million by 2030 and exhibit a CAGR of 8.9% in the forecast period (2023−2030), according to Skyquest's latest research report. The urbanization and traffic congestion, emphasis on eco-friendly transportation solutions, increasing adoption of active and healthy lifestyles, compact and portable commuting options, integration of innovative folding mechanisms and designs, government incentives and support for sustainable transportation, convenience for multimodal commuting, growing popularity of electric folding bicycles, limited storage space in urban environments, and the rise of micro-mobility trends.
According to SkyQuest's latest global research of the Folding Bicycle market, increased demand for electric folding bicycles, integration of smart and connected features, advancements in lightweight materials and construction, expansion of bike-sharing and rental services, development of compact and efficient folding mechanisms, focus on ergonomic and comfortable designs, customization options for individual preferences, growth of online sales channels, rise of innovative folding designs for specific use cases, and incorporation of sustainable and recyclable materials.
Browse in-depth TOC on "Folding Bicycle Market"
- Pages - 157
- Tables - 169
- Figures -79
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A folding bicycle is a bicycle that can be folded into a compact size for easy transportation and storage. Folding bicycles are becoming increasingly popular, as they offer a convenient and practical way to get around in cities and other congested areas.
Prominent Players in Folding Bicycle Market
- Dahon
- Brompton
- Tern
- Montague
- Citizen
- Bike Friday
- Strida
- Airnimal
- RANS
- Pacific Cycles
- Folding Bike Company
- BikeBug
- Vilano
- Mercier
- Dahon India
- Montague USA
- CarryOn Bikes
- Bickerton
- Gios
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Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 1015.66 Million |
| 2030 Value Projection | 2012.29 Million |
| CAGR | 8.9% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Mid-fold Demand to Grow Substantially in the Forecast Period
Mid-fold dominated the global online market as they offer a balance between foldability and ride quality. Their design allows them to fold down to a compact size, making them easy to carry and store in various settings, such as public transportation, offices, and apartments.
Urban Commuting is the Leading Application Segment
In terms of application, urban commuting is the leading segment due to high levels of traffic congestion, leading to longer commute times and frustration among residents. Folding bicycles offer a practical solution for efficiently navigating through traffic and reaching destinations.
Asia Pacific is the leading Market Due to the Technological Advancements
Region-wise, Asia Pacific is one of the largest growing markets with a huge emphasis on technological advancements. Many countries in the Asia Pacific, including China, India, and densely populated urban centers, experience high levels of urbanization and population density. This strongly demands compact and portable transportation solutions like folding bicycles.
A recent report thoroughly analyzes the major players operating within the Folding Bicycle market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Folding Bicycle.
Key Developments in Folding Bicycle Market
- In March 2023, Foldable bike brand Brompton received a 19-million-pound ($23.6 million) investment from BGF, an equity capital investment company based in the United Kingdom and Ireland.
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Key Questions Answered in Folding Bicycle Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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