The global folding bicycle market size is expected to reach
USD 926.9 million by 2025, according to a new report by Grand View Research,
Inc., expanding at a CAGR of 8.8% over the forecast period. Rising
importance of cycling as a recreational activity among the millennials in order
to improve body fitness is expected to have a strong impact on the market
growth. Furthermore, governments of various countries including U.S., Germany,
U.K., and Spain are propelling corporate institutions to spread awareness among
their employees regarding using bicycle for daily transportation. This, in
turn, is expected to promote the scope for folding bicycle over the next few
years.
Electric folding bicycles are expected to
expand at the fastest CAGR of 10.0% from 2019 to 2025. These products are
considered to be convenient and energy efficient, which do not harm the
environment. Growing cost of conventional energy resources such as petrol and
diesel is expected to drive the consumers to purchase these electric bicycles
in the upcoming years.
26 inch products generated a revenue of USD
203.5 million in 2018. These products are mostly used for daily transportation
and sports activities among the consumers in developed economies of Europe and
North America. Mountain bikers prefer to use these size variants as they are
easy to carry and provide the perfect balance in hill roads. Growing popularity
of sports events including Downhill World Cup, Cross Country and Short Track,
and E-MTB World Championships is expected to expand the scope for these size
variants among the buyers over the next few years.
Online channel is the fastest growing
distribution channel with a CAGR of 11.8% from 2019 to 2025. These retailers
provide various add-on services including discounted prices, cash-on-delivery,
and coupon benefits in e-commerce portals, which is expected to prompt the
buyers to use this channel. Amazon, Walmart, and Aliexpress are some of the key
e-commerce portals that offer foldable bicycles.
Europe was the largest market with a revenue
of USD 176.3 million in 2018. The trend of using cycle as a medium of daily
transportation is prominent among the population of many countries across the
region including Germany, U.K., France, and Italy. However, growing real estate
as well as parking space cost is driving consumers to purchase foldable
bicycles, which are convenient to keep inside the house or corporate buildings.
Some of the key players operating in the
folding bicycle market are Dahon, A-bike, Giant Bicycles, Helix, Bike Friday,
Montague Bike, Brompton Bicycle, GOGOBIKE, Birdy Bike, and FOREVER Bicycle.
Product innovation is expected to remain a key competitive strategy among the
industry participants over the next few years.
For full research report on Folding
Bicycle Market visit here: https://www.grandviewresearch.com/industry-analysis/folding-bicycle-market
Further key
findings from the report suggest:
- Conventional products generated a revenue of
USD 373.3 million in 2018. These products are easily available in offline
as well as online stores at economical prices
- By size, the 20 inch segment is expected to
expand at the fastest CAGR of 9.8% from 2019 to 2025. These products are
popular among the millennial population as they are capable of offering
high speed features
- The offline segment held the largest share in
2018 as a result of its try and buy options. Online channel is expected to
expand at the fastest CAGR of 11.8% from 2019 to 2025 owing to
availability of a wide range of products and doorstep delivery services
- Asia Pacific is the fastest growing region
with a CAGR of 10.3% from 2019 to 2025 as a result of increasing
popularity of bicycle as a medium of daily transportation to save
conventional energy in countries including China, Japan, and South Korea.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/folding-bicycle-market/request/rs1
Grand
View Research has segmented the global folding bicycle market on the basis of
product, size, distribution channel, and region:
Folding
Bicycle Product Outlook (Revenue, USD Million, 2015 - 2025)
- Conventional
- Electric
Folding
Bicycle Size Outlook (Revenue, USD Million, 2015 - 2025)
- 20”
- 24”
- 26”
- Others
Folding
Bicycle Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Online
- Offline
Folding
Bicycle Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- Central & South
America
- Brazil
- Middle East &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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