Global Folding Bicycle Market is valued approximately USD 0.61 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 11.1 % over the forecast period 2021-2027. The folding bicycles are designed in such a way that they are easily foldable into compact and portable size. This bicycle provides better portability and comfort as compared to conventional bicycle. The increasing in sales and use of electric bicycle has led the adoption of Folding Bicycle across the forecast period. For Instance: as per the World Economic Forum, in US, sale of electric bicycle grew by 145% in 2020 that is 268,250, in 2019 the sales of electric bicycle are 185,000. Furthermore, there are less chances of theft in folding bicycle as folding cycles are more secure which is increasing the demand for folding bicycle in the forecasted period. Additionally, folding cycles are easy to store and carry which is propelling the demand for the bicycles. Also, with the improvement in cycles and battery technology is creating opportunity for the folding bicycle for the forecasted period 2021 to 2027. However, high manufacturing costs impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Folding Bicycle market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is accounting for the largest market share for the forecasted period. As Europeans use bicycle as a daily transport medium. The urban population in the region uses foldable products which increase the demand for folding bicycle for the forecasted period. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising disposable income, rise in popularity of sports events which include mountain biking and cycling which would create lucrative growth prospects for the Folding Bicycle market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Folding Bicycle Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers