According to Precision Business Insights, the Folding Bikes Market research report provides industry size and growth.
According to Precision Business Insights (PBI), the latest report folding bikes market size was valued at 0.9 billion in 2022 and growing at a CAGR of 10.9% over the forecast period 2023-2029. Bikes with two wheels that fold down into a small package make for simple transporting. Small wheels help them take up speed faster, accelerate faster, and store more easily. In order to fit into crowded spaces, they serve as a space-saving solution for travelers and urban riders. Their weight, great performance, and durability make them more mobile and comfortable than traditional cycles. Folding bikes are now widely used in the business, fitness, and sporting industries all over the world.
The Folding Bikes Market Growth Factors:
One of the main elements driving the market's growth is the increase in traffic and the lengthening of journey times in metropolitan regions. Additionally, the industry is benefiting from growing consumer awareness of personal health issues and the prevalence of chronic diseases. Furthermore, the ubiquitous accessibility of folding bikes through both online and physical retailers is promoting market expansion. Leading manufacturers are also making significant investments in research and development (R&D) operations to offer higher-quality product versions. Overcrowding in public transportation and rising fuel prices are further growth-promoting elements. Furthermore, a significant barrier to the growth of the folding bikes market is anticipated to be the intense competition that conventional bikes face in terms of speed and performance.
The Folding Bikes Market Segmentation:
1) By Product Type: Mid-fold, Vertical Fold, and Triangle Hinge
2) By Drive Type: Conventional and Electric
3) By Application: Sports, Fitness, Commercial, and Others
4) Price Range: Low, Economy, and Premium
5) Distribution Channel: Offline and Online
The Folding Bikes Market Regional Analysis:
China, India, the United States, Canada, the United Kingdom, Germany, France, Russia, Italy, the Netherlands, and Norway are the top exporters of folding bikes worldwide. Over the projection period, China is anticipated to continue to dominate in terms of revenue and demand for foldable bikes due to shifts in consumer preferences. North America is anticipated to grow at a substantial CAGR over the projected period due to rising tourism activities and rising health concerns amongst consumers in the area.
About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers. Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.
Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152-160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/
D U N S® Number: 852781747