About Folding Bikes
Folding bikes are usually smaller than a conventional bicycle & as the name suggest can be folded up or otherwise reduced into a more convenient size/shape. Folding bike is a fast growing bicycle category owing to its various practical & plausible uses in personal mobility as well recreation. Folding bikes are finding practical uses is recreation & daily life. Increasing awareness about health & growing concerns over global pollution is expected reflected favorably on the global market for folding bikes in the forthcoming years. In addition, folding bikes are gaining popularity among people who are shifting towards healthy & eco-friendly solutions that also carry an element of style.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.0% |
Leading players in the global folding bikes market remain focused on product innovation & design enhancements in order to gain a competitive edge. Despite the high level of sophistication, manufacture are able to keep the prices of folding bikes quite moderate and hence trying to gain more market share. Analyst at AMA Research estimates that United States and United Kingdom Manufacturers will contribute the maximum growth to Global Folding Bikes market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bobbin (United Kingdom), Schwinn (United States), Vilano (United States), Brompton (United Kingdom), Tern (United States), GIANT (China), MERIDA (China), Montague (United States), Raleigh (United Kingdom), PHOENIX (China), Bickerton (United States), Forever (China), Dawes (United Kingdom), Birdy (Germany), Bike Friday (United States) and XDS (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are OMYO (China), Hasa (China), Allen (United States), Retrospec (United States), Kingston (Canada), SCHIANO (Italy), Pacific Cycle (United States), Argon (Canada) and Mongoose (United States).
Segmentation Overview
AMA Research has segmented the market of Global Folding Bikes market by Type (Mid-Fold, Vertical Fold, Triangle Hinge, Magnet Folding, Suspension System and Others), Application (Sports, Fitness and Commercial) and Region.
On the basis of geography, the market of Folding Bikes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Wheel Size, the sub-segment i.e. 20 Inch will boost the Folding Bikes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Target Group, the sub-segment i.e. Children will boost the Folding Bikes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price Range, the sub-segment i.e. Premium will boost the Folding Bikes market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing attractiveness for innovative products and Shift in customer trend towards healthy lifestyle and fitness
Market Growth Drivers:
Rising vehicle traffic and volatile prices of fuel and Favorable government regulations for permitting fold-able bikes in public transportation systems
Challenges:
Complexity in designing
Restraints:
High cost of folding bike and Unawareness in some regions
Opportunities:
Growing demand from children group and Rapidly growing electric bike (e-bike) segment
Market Leaders and their expansionary development strategies
In February 2023, SHIMANO acquired BIKE AHEAD COMPONENTS, including the Birdy folding bike brand. This move strengthens Shimano's presence in the European folding bike market and expands its component offerings.
In July 2023, TERN Bicycles teams up with CONTINENTAL to launch a new line of folding bikes with puncture-resistant tires. This partnership addresses a common concern for folding bike riders and aims to improve ride quality and convenience.
Key Target Audience
System manufacturer, Sub-component manufacturer, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.