Folding Bikes Market Worth $1.26 Billion by 2027: AMR

Allied Market Research

Tue, Mar 2, 2021, 7:51 AM5 min read

Implementation of government regulations for encouraging usage of electric bikes and increase in fuel costs fuel the global folding bikes market growth. Asia-Pacific held the largest share in 2019, and is projected to maintain its leadership position by 2027. There has been stoppage of production activities of folding bikes due to lockdown by governments. Issues such as scarcity of workforce and insufficient raw materials have been occurred.

Portland, OR, March 02, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global folding bikes market generated $790.90 million in 2019, and is expected to reach $1.26 billion by 2027, manifesting a CAGR of 8.7% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.

Implementation of various government regulations to promote the usage of electric bikes, consumer inclination toward e-bikes as an eco-friendly & efficient solution, and rise in fuel costs drive the growth of the global folding bikes market. However, high cost of e-bikes restrains the market growth. Contrarily, improvement in bicycling infrastructure & battery technology along with preference for cycling as a fitness & recreational activity present new opportunities in the coming years.

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Covid-19 Scenario:

There has been a complete stoppage of manufacturing activities of folding bikes due to lockdown imposed by governments. In addition, there have been issues such as lack of workforce and unavailability of raw materials.
However, the demand for folding bikes increased during the post-lockdown as people began avoiding public transport to avoid possibility of cross-contamination. In addition, owing to closure of gyms and fitness centers, people preferred folding bikes for exercising and maintaining fitness.

The report offers detailed segmentation of the global folding bikes market based on product type, drive type, application, price range, distribution channel, and region.

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By product type, the vertical fold segment accounted for the largest market share in 2019, contributing to more than two-fifths of the total market, and is projected to maintain its dominance in terms of revenue during the forecast period. Furthermore, this segment is estimated to witness the fastest CAGR of 9.5% from 2020 to 2027. The research also analyzes segments including mid-fold and triangle hinge.

By application, the commercial segment held the highest market share, accounting for more than one-fourth of the global folding bikes market in 2019, and is expected to continue its leadership status throughout the forecast period. However, the fitness segment is estimated to witness the highest CAGR of 10.0% from 2020 to 2027.

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By region, Asia-Pacific accounted for the highest share in 2019, holding nearly two-fifths of the total share, and is estimated to maintain its lead position by 2027. However, North America is estimated to maintain the fastest CAGR of 10.0% during the forecast period.

Leading players of the global folding bikes market analyzed in the research include Bickerton Portables, Brompton Bicycle Ltd., Bobbin Bicycles Ltd., Pacific Cycles, Montague Corporation, Giant Bicycles, Vilano Bikes, Gocycle, Dahon, Raleigh UK Ltd., and Ming Cycle.

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Similar Report We Have on Electric Vehicle Industry:

Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid-Drive, and Others), and Battery Type (Lead Acid, Lithium-Ion (Li-ion), and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.

Electric Mobility Scooter Market by Battery Type (SLA, Li-ion, and NiMH), and by Number of Tire (2 Wheeler, 3 Wheeler, 4 Wheeler, and 5 Wheeler) - Global Opportunity Analysis and Industry Forecast, 2017-2030.

One Wheel Electric Scooter Market by Product Type (Electric Unicycle, and Electric One wheel Hoverboard), Application (Off-road Activities, and Daily Commute), Sales Channel (Online Sales, and Offline Sales), and Speed Limit (Kmh) (20 Kmh - 30 Kmh, 30 Kmh - 50 Kmh, and More than 50 Kmh): Global Opportunity Analysis and Industry Forecast, 2020–2027.

Electric Vehicle Market by Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV)), Vehicle Class (Mid-Priced and Luxury), and Vehicle Type (Two-wheelers, Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2027.

Solar E-Bike Market by Product Type (Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid Drive, and Others), Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027.

About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, and researchers and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

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