Research Nester released a report titled “Foldable Bicycles: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the foldable bicycles market in terms of market segmentation by product type, weight, application, end user, distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Foldable bicycles, a marvel in mechanical engineering, are bicycles that are compact, portable and also transportable. Owing to its various applications and added advantages to the end users, the global foldable bicycles market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. Based on product type, the market is bifurcated into conventional and electric bikes, out of which, the highest stance is estimated to be held by conventional bikes. This can be attributed to the its low cost and easy availability in the market.
The market is further segmented by distributed channel into online and offline distribution channels. Among these segments, the offline segment was the largest revenue generating segment in 2019 owing to the availability of various buying options pertaining to the brand, color, material, and design preference of consumers. Additionally, the option to check the product physically through test driving also contributed to the growth of the segment.
Geographically, the global foldable bicycles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in Europe is predicted to hold the leading share in the market on account of presence of leading market players in the region which manufacture and market foldable bicycles. Additionally, during 2012-2017, as per Taiwan External Trade Development Council, Taiwan’s e-bike exports attained a 17-fold rise, with highest demand from Europe, followed by Asia Pacific.
Growing Health Consciousness and Climate Change Activism to Boost the Market Growth
The demand for foldable bicycles is high owing to the rising inclination towards cycling which is driven by increasing need to lead a healthier lifestyle among people looking for healthier and convenient methods to stay fit.
Additionally, various authoritative bodies across the world are raising awareness and offering initiatives related to adopting ecofriendly solutions in an attempt to curb CO2 emissions. According to IEA (International Energy Agency), the energy-related carbon emissions increased from 30 Gt (gigatons) in 2010 to 33 Gt in 2019.Such factors are anticipated to significantly drive the market growth. However, high cost of these bicycles is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global foldable bicycles market which includes company profiling of Brompton Bicycle Ltd. Dahon Bike, Bobbin Bikes, Decathlon, Citizen Bike Inc., Dawes Cycles, Raleigh UK Ltd., Humming birdbike, Montague Corporation, and Ming Cycle Industrial Co. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global foldable bicycles market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
