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Folding Bicycle Market Share, Research 2019-2025 | Industry Report

Folding Bicycle Market Analysis Report By Product, By Size, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619897  |  Published: July 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Automotive & Transport  |  Publisher: Grand View Research

Industry Insights

The global folding bicycle market size was worth USD 514.5 million in the year 2018 and it is predicted to grow with a CAGR of 8.8% for the period 2019 to 2025. The increasing demand for foldable bicycles is attributed to the benefits offered by it including limited space and intermodality. Working professionals do not restrain from spending more on recreational activities to gain fitness and a fresh mind which is expected to surge the demand for these products in the upcoming years. Moreover, the rising cycling tracks in countries like the U.S., U.K., and Germany are predicted to be a favorable factor in expanding the need for these bicycles.

Foldable bicycles can be used as traditional bicycles due to their compactness, lightweight, flexibility, and the benefit of traveling via subways and metros. These acquire a limited space and can be easily kept at home. The rising awareness regarding fitness, personal health, and environmental pollution are predicted to fuel the demand for foldable bicycles over the years.

U.S. folding bicycle market

However, today, traffic problems are faced by most of the urban cities. Long queues and traffic jams are predicted to shift the consumers to use these bicycles to travel safely and timely. Private organizations and governments have been motivating people to use these foldable bicycles for traveling within the city to limit the pollution level. Furthermore, national authorities have come up with plans for developing cycling routes and creating laws to safeguard cyclists.

For example, the Dutch government, in December 2018, announced to spend USD 390 million in establishing cycling infrastructure which has the ability to commute 200,000 cyclists in the coming three years. Salesforce, SunPower Corporation, ViaSat, Garmin International, Inc., Patagonia, Kimberley-Clark Corporation, and REI are some of the key players encouraging the idea of “Bike to Work” among their employees to attain physical and mental health. Such plans are predicted to create new channels for folding bicycles market growth.

Product Insights

Conventional foldable bicycles held a revenue of USD 373.3 million in 2018. These products have easy access and are affordable which attracts consumers. Manufacturers are focusing on providing a wide range of products with innovative colors and styles to attract a larger customer base.

Electric folding bicycles are predicted to register a CAGR of 10.0% over the forecast period.  The features like ease of traveling, long battery life, and convenience offered by these products make them more attractive to consumers. These foldable bicycles consist of lithium batteries that allow the bicycle to move up t0 60kms. The introduction of electric foldable bicycles has eliminated the outdoor charging issues as customers can now charge them inside the room. These bicycles provide higher speeds compared to conventional bicycles, thus increasing their popularity among adventure lovers.

Size Insights

Based on the size, 26-inch folding bicycle accounted for the revenue of USD 203.5 million in 2018. This site is mainly suitable for customers who are 5.5” to 6” ft tall. Over the years, the popularity of mountain biking has increased owing to the health benefits like reduced joint pain, improved blood circulation and mood, higher brain power, coordination for full-body workout, reduced stress, and improved balance provided by it. Therefore, mountain bikers are predicted to be highly inclined towards these bicycles in the upcoming years.

A 20-inch folding bicycle is predicted to register a CAGR of 9.8% for the period of 2019 to 2025. These bicycles are easy to carry in places like lifts, homes, and corporate offices and are widely preferred by consumers. Manufacturers are focusing on designing this segment with high-speed features.

Distribution Channel Insights

Offline distribution channel held the largest revenue share of USD 412.6 million in 2018. Consumers widely prefer purchasing via offline channels due to the benefits of physical verification and test drive option. These outlets also offer customized products where consumers can choose designs and colors according to their needs. Additionally, these stores showcase a variety of brands at a single roof which is expected to boost the demand for this channel in the future.

Global foldable bicycle market

The online channel is expected to register a CAGR of 11.8% over the forecast period. The online channel provides special discounts which attract the customers towards these channels. Some of the major players include Amazon, Flipkart, and Ali Express. Furthermore, the rising number of smartphone users in countries like India, China, Mexico, and Brazil are expected to drive this mode of distribution.

Regional Insights

Europe held the largest market share of 34.3% in 2018. There is a rising trend for using a bicycle as a mode of daily transport among the European population. The urban population in countries like France, U.K., Italy, and Germany prefer foldable products as they acquire limited space. Government initiatives for using environment-friendly vehicles in developing countries like Netherlands and France are predicted to create new channels for the growth of this segment in the upcoming years.

Asia Pacific is expected to grow at a CAGR of 10.3% for the period of 2019 to 2025. A number of sports events like mountain biking and cycling have become popular among adults in countries like Japan, India, Indonesia, and China which is expected to drive the market for these products. Furthermore, the hike in property cost in developed cities is encouraging the customers to buy foldable items including foldable bicycles which can be kept at home.

Folding Bicycle Market Share Insights

The key players include A-bike, Dahon, GOGOBIKE, FOREVER Bicycle, Montague Bike, Bike Friday, Giant Bicycles, Brompton Bicycle, Helix, and Birdy Bike. Manufacturers are emphasizing investing in innovative products to expand their customer base. For example, Hummingbird Bike, in July 2018, introduced its electric foldable bike consisting of 160-watt lithium batteries and a weight of 10.3kg. Moreover, industry players are anticipated to use online portals as a medium of sales to attract millennials who are spending on cycling to improve health.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country Scope           

U.S., Germany, U.K., India, China, Japan, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global folding bicycle market report on the basis of product, size, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Conventional
    • Electric

• Size Outlook (Revenue, USD Million, 2015 - 2025)
    • 20”
    • 24”
    • 26”
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
    • The Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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