Folding Bike Market Size to Reach a Valuation of US$ 1,202.2 Million by 2028 | Bickerton Portables, Bike Friday, Bobbin Bicycles

IMARC Group, a leading market research company, has recently releases report titled "Folding Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global folding bike market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Folding Bike Market?

The global folding bike market size reached US$ 783.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,202.2 Million by 2028, exhibiting a growth rate (CAGR) of 6.99% during 2023-2028.

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A folding bike is a compact and versatile two-wheeled vehicle equipped with hinges and quick-release mechanisms that enable riders to fold and unfold them quickly and effortlessly. It comprises adjustable seat heights and handlebars that accommodate riders of different sizes. It offers the convenience of easy storage and transportability to the riders. It is lightweight, durable, and offers multi-modal commuting, better mobility, and comfort than its conventional counterparts. It helps in reducing carbon emissions and promoting sustainable transportation. Besides this, as it aids in alleviating traffic congestion, which makes it an eco-friendly mode of transportation to cover short distances, the demand for folding bike is rising across the globe.

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What are the growth prospects and trends in the folding bike industry?

Rapid urbanization and limited living spaces in densely populated areas represent one of the key factors propelling market growth. Additionally, the increasing prevalence of various health conditions due to rising pollution levels is creating a positive market outlook.

The growing awareness among individuals about the benefits of adopting sustainable and eco-friendly transportation solutions is catalyzing the demand for folding bikes. Furthermore, various advancements and continuous investments by the leading market players in folding bike technology and design are attracting a wider consumer base.

These advancements are resulting in the development of more compact, durable, and user-friendly folding bikes, enhancing the overall riding experience and attracting a wider consumer base.

The report has segmented the market on the basis of region, product type, drive type, size, price range and distribution channel.

Breakup by Product Type:
• Vertical Fold
• Mid-Fold
• Triangle Hinge

Breakup by Drive Type:
• Conventional
• Electric

Breakup by Size:
• 20''
• 24''
• 26''
• Others

Breakup by Price Range:
• Low
• Economy
• Premium

Breakup by Distribution Channel:
• Offline
• Online

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

Who are the key players operating in the industry?

The report covers the major market players including:

Bickerton Portables, Bike Friday, Bobbin Bicycles, Brompton Bicycle Ltd., Dahon Bike, Giant Bicycles, Gocycle, Ming Cycle Industrial Co. Ltd., Montague Corporation, Pacific Cycles, Raleigh UK Ltd. (Accell Group N.V.) and Vilano Bikes.

Folding Bike Market Trends: https://www.imarcgroup.com/folding-bike-trends

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This release was published on openPR.