Global Folding Bicycle Market Size to Exceed USD 1.89 billion by 2028, By SkyQuest Technology

People are forced to work without exercise and consume mainly junk food because of their busy schedules and contemporary lives, which adds to their being overweight or obese. Thus, due to growing health concerns among consumers, the market for foldable bicycles will increase over the next few years. In addition, a variety of folding bicycle characteristics, such as a lower risk of bicycle theft, ease of storage, suitability for mixed-mode commuting, etc., would assist the growth of the worldwide folding bicycle market during the course of the forecast period.

Folding bicycles have the extra benefit of being able to fit in subways and metros in addition to their benefits of being lighter, more flexible, and smaller. Customers may store these cycles within their homes because of their small size. The use of the foldable bicycle 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 had a significant impact on the automobile industry, resulting in a scarcity of raw materials, a severe decline in vehicle sales, among other things. Automobile industry players are coping with issues including a complete stoppage of production, forced plant closures, a shortage of essential components, and others. The expansion of the market has been negatively impacted by a scarcity of production-related raw materials. Due to the halt of raw material shipping, a mismatch between supply and demand has resulted in this shortage of availability. The market for foldable bikes was able to resume its growth trend sooner as a result of consumers avoiding public transit to avoid being in close proximity to other people.

Read Market Research Report, "Global Folding Bicycle Market By Drive Type (Conventional, Electric), Size (20 inches, 24 inches, 26 inches), and Region -Forecast And Analysis 2022-2028" By Skyquest

Europe accounted for the largest portion of the global folding bicycle market in 2021. It has been reported that most individuals in Europe choose bicycles as their primary mode of transportation. Urban dwellers like to use foldable things since they take up less space, especially in industrialized nations like Germany, the United Kingdom, France, and Italy. In addition, new prospects for foldable bicycles are predicted in the upcoming years as a consequence of supporting governmental measures on the usage of environmentally friendly cars in countries like France and the Netherlands. In Denmark, bicycles are utilized for 25% of trips under three kilometres and 16% of all trips.

Around 63 percent of Dutch citizens commute daily on bicycles, which make up around 48 percent of all urban traffic (compared to only 22 percent for vehicles). Denmark and the Netherlands are home to some of the most well-known bicycle towns in the world, and they don't only have 20-somethings pedalling to and from college there. Cycling is popular across all demographics, with men, women, and individuals of all ages regularly using bicycles for commuting throughout the year. They commute by bicycle to job, school, childcare, supermarkets, and social gatherings.

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Asia Pacific is anticipated to be the region with the quickest growth in the global foldable bicycle market. The increased adult interest in sports like cycling and mountain riding in countries like China, Japan, India, and Indonesia is expected to continue having a substantial impact on the industry. A further factor driving buyers to purchase foldable, useful alternatives they can keep at home are growing residential property expenses in urban areas, such as folding bicycles. To study and gather perspectives on cycling, how it is considered, and its use, Ipsos conducted a worldwide survey titled Cycling Across the World among 20,504 people in 28 nations in the months before the event. The poll offers intriguing details about riding and how it relates to markets.

The majority of people who ride bicycles on a weekly basis live in India. The greatest percentage in the world is reported by urban Indians, who claim to ride bicycles the bulk of the time (67 percent). The Netherlands (66%) and China (66%) came second (65 percent). However, Canada (16%) and the UK had the lowest riding prevalence rates (19 percent).

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

What does this Report Deliver?
Market Estimation for 20+ Countries
Folding Bicycle Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional and Country specific Folding Bicycle Market Trends
Comprehensive Mapping of Folding Bicycle Industry Parameters
Attractive Investment Proposition in the Global Folding Bicycle Industry
Competitive Strategies Adopted by Folding Bicycle Market Key Players
Drivers, Restraints, Opportunities, Challenges and the impact on the Folding Bicycle Market Size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Folding Bicycle Market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and Folding Bicycle Market Sales
Parent market analysis
Product portfolio benchmarking

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SkyQuest has segmented the Global Folding Bicycle Market based on Size, Drive Type, and Region:

Global Folding Bicycle Market by Size (Revenue, US$ Billion, 2021 - 2028)
20"
24"
26"
Others

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

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

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

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This release was published on openPR.