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Folding Bike Market Growth Driven By Rising Interest In Cycling For Fitness And Recreation Emerges as a Core Driver of the Folding Bikes Market in 2025
Folding Bikes
What Is the Expected CAGR for the Folding Bikes Market Through 2025?
In recent years, the market size for folding bikes has seen a significant increase. The value is expected to rise from $0.89 billion in 2024 to $0.98 billion in 2025, signifying a compound annual growth rate (CAGR) of 10.5%. The driving forces behind the growth during the historic period include the rise in urbanization, escalating environmental concerns, development of infrastructure suitable for biking, a shift in consumer behavior towards active lifestyles, and worsening traffic congestion in city centers.
What's the Projected Size of the Global Folding Bikes Market by 2029?
In the ensuing years, a swift expansion is anticipated in the folding bikes market, projecting it to soar to $1.45 billion by 2029, at a compound annual growth rate (CAGR) of 10.2%. Factors contributing to this anticipated growth in the forecast period include strengthening economic conditions, increased disposable incomes, proactive governmental policies, a surge in the elderly populace, a rising count of city inhabitants, harsher ecological regulations, and emission norms, and heightened consciousness regarding health and wellness benefits. Noteworthy trends for the forecast period encompass technological progression, product ingenuity, assimilation of e-mobility, usage of sustainable materials and manufacturing procedures, blending with urban mobility solutions, and incorporation of digital technologies.
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Top Growth Drivers in the Folding Bikes Industry: What's Accelerating the Market?
The foldable bike market is poised for growth, fueled by a growing interest in cycling for both fitness and leisure. Riding bikes for enjoyment, leisure, or exercise is becoming more popular, driven by an increased awareness of the health gains derived from regular exercise, environmental sustainability concerns and carbon emissions, and the search for alternative transportation means to decrease commuting costs. The surge in interest in cycling for fitness and pleasure has boosted the need for practical transport solutions. This includes folding bikes, which provide flexibility and portability for city commuters and hobbyists alike. For example, a report released by Transport For London, a UK governmental agency responsible for transportation, stated that in December 2023, the daily cycle journeys in London rose to an estimated 1.26 million per day in 2023, representing a 6.3% increase from 1.19 million in 2022. Consequently, the increasing popularity of cycling as a fitness and recreational activity is fueling the growth of the foldable bike market.
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What Trends Will Shape the Folding Bikes Market Through 2029 and Beyond?
Leading businesses in the foldable bikes market, such as Honda Motors Co. Ltd., are creating compact motorcycles to broaden their range of products and attract more customers. These motorcycles are compact, easy-to-carry personal transport devices designed with a foldable feature making them ideal for urban commuting and storage. As an example, Honda, a renowned automobile company based in Japan, introduced a foldable electric scooter known as the Moto Compacto in September 2023. It delivers exciting and adaptable options for city transportation, featuring a 490-watt electric engine and reaching speeds of 15mph and distances of up to 12 miles. The Moto Compacto is designed with customization in mind, offering a variety of Honda accessories and parts for personalization. This product is expected to complement Honda's forthcoming electric cars, such as the Prologue and Acura ZDX, providing a solution for last-mile transportation.
What Are the Main Segments in the Folding Bikes Market?
The folding bikes market covered in this report is segmented -
1) By Product Type: Mid-Fold, Vertical Fold, Triangle Hinge
2) By Drive Type: Conventional, Electric
3) By Price Range: Low, Economy, Premium
4) By Applications: Sports, Fitness, Commercial, Other Applications
5) By Distribution Channel: Offline, Online
Subsegments:
1) By Mid-Fold: Single Pivot Mid-Fold, Dual Pivot Mid-Fold
2) By Vertical Fold: Standard Vertical Fold, Compact Vertical Fold
3) By Triangle Hinge: Traditional Triangle Hinge Design, Reinforced Triangle Hinge Design
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Which Top Companies are Driving Growth in the Folding Bikes Market?
Major companies operating in the folding bikes market are Decathlon S.A., Brompton Bicycle Ltd., Pacific Cycles Inc., Riese And Müller GmbH, Ming Cycle Industrial Co. Ltd., Tern Bicycles Inc., Romet Sp. z o.o., Bike Friday, Montague Corporation, Raleigh UK Ltd., Ningbo Bestar Co. Ltd., Gocycle, Wattbike Ltd., Allen Sports LLC, Dahon North America Inc., Airnimal Bikes Ltd., Mobility Holdings Ltd., Bobbin Bicycles Ltd., Hummingbird Bike Company Ltd., Zizzo Bike LLC, Moulton Bicycle Company Ltd., Citizen Bike, Strida Ltd., Tyrell Corporation, Helix Labs Inc
Which Regions Will Dominate the Folding Bikes Market Through 2029?
Asia-Pacific was the largest region in the folding bikes market in 2023. The regions covered in the folding bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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