Global folding bike market size to exceed USD 1.89 billion

People are forced to work without exercise and mainly consume junk food due to busy schedules and contemporary life which adds to their overweight or obesity. Thus, due to the growing health concerns among consumers, the folding bike market is going to increase in the coming years. Additionally, a variety of features of folding bikes such as lower risk of bike theft, ease of storage, suitability for mixed-mode travel, etc., are said to aid in the growth of the global folding bike market over the course of of the forecast period. .

Folding bikes have the added advantage of being able to adapt to subways and subways in addition to being lighter, more flexible and smaller. Customers can store these cycles at home due to their small size. Folding bike usage is expected to increase in the next few years as consumer awareness of environmental pollution, exercise and personal health increases.

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The COVID-19 outbreak has had a significant impact on the automotive industry, resulting in a shortage of raw materials, a sharp drop in vehicle sales, among others. Players in the automotive industry are facing issues such as a complete production shutdown, forced plant shutdowns, shortage of critical components, and more. Market expansion was negatively impacted by a scarcity of production-related raw materials. Due to the halt in the shipment of raw materials, a mismatch between supply and demand has resulted in this shortage of availability. The folding bike market was able to resume its growth trend earlier due to consumers avoiding public transportation to avoid being near other people.

Read the Market Research Report, “Global Folding Bikes Market by Drive Type (Conventional, Electric), Size (20in, 24in, 26in) and Region – Forecast and Analysis 2022-2028” by Skyquest

Europe accounted for the largest share of the global folding bike market in 2021. It has been reported that most Europeans choose bicycles as their primary mode of transportation. City dwellers like to use foldable items because they take up less space, especially in industrialized countries like Germany, UK, France and Italy. In addition, new perspectives for folding bikes are foreseen in the coming years thanks to the support of government measures on the use of environmentally friendly cars in countries such as France and the Netherlands. In Denmark, bicycles are used for 25% of journeys under three kilometers and 16% of all journeys.

Around 63% of Dutch citizens commute by bicycle on a daily basis, which accounts for around 48% of all urban traffic (compared to only 22% for vehicles). Denmark and the Netherlands are home to some of the best-known cycling cities in the world, and they’re not just 20-somethings who cycle to and from college. Cycling is popular across all demographics, with men, women, and people of all ages regularly using bicycles for commuting throughout the year. They cycle to work, school, kindergarten, supermarkets and social gatherings.

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Asia-Pacific is expected to be the fastest growing region in the global folding bike market. Growing adult interest in sports like cycling and mountain riding in countries like China, Japan, India and Indonesia is expected to continue to have a substantial impact on the industry. Another factor driving shoppers to buy useful, foldable alternatives that they can keep at home is the rise in residential real estate spending in urban areas, such as folding bikes. To research and gather views on cycling, how it is viewed and how it is used, Ipsos conducted a global survey called Cycling Across the World among 20,504 people in 28 countries in the months leading up to the event. The survey offers intriguing details about horseback riding and its connection to markets.

The majority of people who cycle every week live in India. The highest percentage in the world is reported by urban Indians, who claim to cycle most of the time (67%). The Netherlands (66%) and China (66%) come second (65%). However, Canada (16%) and the United Kingdom had the lowest driving prevalence rates (19%).

The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.

What does this report bring?
Market estimate for more than 20 countries
Folding Bikes Market Demand by Region, Sub-Region and Country
Customization of segments, regions and company profiles
100+ tables, 150+ numbers
Global, Regional and Country Folding Bikes Market Trends
Complete mapping of folding bike industry parameters
Attractive investment proposition in the global folding bicycle industry
Competitive strategies adopted by key players of the Folding Bike market
Drivers, Restraints, Opportunities, Challenges, and Impact on Folding Bicycle Market Sizing
Market growth rate to 2028
Regulatory scenario, regional dynamics and Folding Bikes market overview of key countries in each region
Detailed market information by region and country
Analysis of market segmentation trends, opportunities and growth
Porter’s five forces analysis to know the state of the market
Folding Bikes Market Price and Sales Analysis
Parent Market Analysis
Benchmark of the product portfolio

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SkyQuest has segmented the global folding bicycle market based on size, drive type and region:

Global Folding Bikes Market by Size (Revenue, USD Billion, 2021 – 2028)
20″
24″
26″
Others

Global Folding Bikes Market by Drive Type (Revenue, Billion US$, 2021-2028)
Conventional
Electric

Global Folding Bikes Market by Region (Revenue, Billion US$, 2021-2028)
North America
WE
Canada
Europe
Germany
France
UK
Italy
Spain
The rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Central and South America
Brazil
Rest of CSA
Middle East and Africa
GCC countries
South Africa
Rest of MEA

Key Players of the Global Folding Bikes Market
Bickerton Portables (subsidiary of Mobility Holdings, Ltd.) (UK)
Bobbin Bicycles Ltd (UK)
Brompton Bicycle Ltd (UK)
Dahon (USA)
Gocycle (subsidiary of Karbon Kinetics) (UK)
Ming Cycle (Taiwan)
Montague Corporation (USA)
Pacific Cycles (USA)
Raleigh UK Ltd (United Kingdom)
Vilano Bikes (subsidiary of Venditio Group LLC) (USA)

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This press release was published on openPR.

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