The global folding bikes market size was valued at USD 937.3 million in 2021 and is poised to grow at a significant CAGR of 10.9% during the forecast period 2022–2028. The market for folding bikes is anticipated to develop due to consumer preference for e-bikes as an effective and environmentally friendly method of transportation. Because of advancements in performance and design, as well as economic and environmental factors, in general, electric bikes and bicycles are growing in popularity across all continents. The market for folding bikes is anticipated to grow as people start choosing electric folding bikes as a more practical and quick way to get to work every day.
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The global folding bikes market segmentation:
1) By Product Type: Mid-fold, Vertical Fold, and Triangle Hinge.
2) Drive Type: Conventional and Electric.
3) Application: Sports, Fitness, Commercial, and Others.
4) Price Range: Low, Economy, and Premium.
5) Distribution Channel: Offline and Online
Electric Segment to Dominate the Folding Bikes Market
The electric segment is expected to account for a larger revenue share in the global Folding bikes market, with a value share worldwide. It is projected to grow at a xx% CAGR between 2022 and 2028. Because of its ease and comfort, the electric category is anticipated to expand quickly during the projected period. The model's set of lithium batteries allows it to go up to 60 kilometres. In addition, this product enables speedier travel than conventional bikes, which is another reason adventurers favour it.
Europe Folding Bikes Market
The Europe market is expected to increase in the global folding bikes market over the forecast period. It is projected to grow at a CAGR of xx% in the coming years. Most people in Europe choose to utilize bicycles as a form of daily transportation. In industrialized economies like Germany, the UK, France, and Italy, the urban populace prefers to use foldable products because they take up less room. Furthermore, during the coming few years, new opportunities for foldable bikes are anticipated due to government measures that boost the use of environmentally friendly vehicles in nations like France and the Netherlands.
The global folding bikes market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
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The Key players in the folding bikes market report are Bobbin Bicycles Ltd., Brompton Bicycle Ltd., Citizen Bike Inc., Cyclecentric Ltd., Dahon North America, Inc., Dawes Cycles Limited, Decathlon S.A., Hummingbird Bike Company, Ltd., Mobility Holdings, Ltd., and Montague Corporation.
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