Folding Bikes Market
Folding Bikes Market was valued US$840 Mn in 2017 and is estimated to reach US$1123 Mn by 2026 at a CAGR of about 7.1%.
The report segment of folding bikes market based on product type, wheel size, application, price range, and region. On the basis of product type, the market is classified into mid-fold, vertical fold, triangle hinge, magnet folding and suspension system, and others. Based on wheel size, the folding bike market is segmented into 20 Inch, 24 Inch, 26 Inch, 700c, and Other Wheel Size. In terms of application, the market is categorized into sports, fitness, and commercial. On the basis of price range, the market is segregated into premium, economy, and low. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Folding bikes are usually smaller than a conventional bicycle and as the name suggest can be folded up or otherwise reduced into a most convenient size or shape. Folding bike is a fast growing bicycle category owing to its number of practical and plausible uses in personal mobility as well recreation. Rise in awareness about health and growing concerns over global pollution is anticipated reflected favourably on the global market for folding bikes in the upcoming years. One of the major advantages of folding bikes is their compactness that allows riders to carry them on long distance travelling. Favourable government regulations for permitting foldable bikes in public transportation systems. Challenges associated with design, safety and performance limitation remain a main growth deterrent. Factors as such as estimated to support the growth of the market during the forecast period. High cost of folding bike is the hindering of growth of the market.
Folding bikes is segmented into product type, wheel size, application, price range, and region. Based on product type, Demand for mid-fold folding bikes is anticipated to remain high over the next few years. This segment is estimated to grow by US$ 2,588.0 Mn annually over the course of the forecast period. Global sales of mid-fold folding bikes currently commands for close to one-fourth value share of the global market. On the basis of wheel size, the 20 Inch segment is estimated to remain highly lucrative over 2026. Currently, the segment is commands for more than 29% revenue share of the global market and is expected to witness a CAGR of 4.7% during the forecast period. 20 Inch wheels are most adjustable to the folds and carry lesser weight as compared to other large size wheels.
|Related Link: Click here to visit item owner's website (0 hit)|
|Target State: All States|
Target City : pune
Last Update : Oct 22, 2019 2:09 AM
Number of Views: 1
|Item Owner : mayuri|
Contact Phone: 9607195908
|Friendly reminder: Click here to read some tips.|