Rapid Growth Anticipated in the Folding Bikes Market, Projected to Reach $1.31 Billion by 2028

The Business Research Company's Folding Bikes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The folding bikes market size has grown rapidly in recent years, expanding from $0.81 billion in 2023 to $0.89 billion in 2024, at a compound annual growth rate (CAGR) of 10%. The growth during this period can be attributed to increased urbanization, growing environmental concerns, development of bike-friendly infrastructure, shifting consumer lifestyles, and rising traffic congestion in urban centers.

The folding bikes market size is expected to continue its rapid growth, projected to reach $1.31 billion by 2028 at a CAGR of 10.2%. This growth can be attributed to increasing economic stability and disposable income levels, rising supportive government policies, a growing aging population, an increasing number of urban dwellers, stricter environmental regulations and emissions standards, and heightened awareness of health and wellness benefits.

Folding Bike Market Growth Driven By Rising Interest In Cycling For Fitness And Recreation
The rising interest in cycling as a fitness and recreational activity is expected to propel the growth of the folding bike market. Cycling is increasingly popular due to growing awareness of the health benefits associated with regular exercise, environmental sustainability concerns, and a desire for alternative transportation to reduce commuting costs.

Explore comprehensive insights into the folding bikes market with a detailed sample report:
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Major Companies and Market Trends
Major companies in the folding bikes market include Decathlon S.A., Brompton Bicycle Ltd., Pacific Cycles Inc., Riese And Müller GmbH, Ming Cycle Industrial Co. Ltd., Tern Bicycles Inc., and Montague Corporation. These companies are focusing on developing innovative products to expand their market reach.

Innovative Products in the Foldable Electric Scooter Market
In the foldable bikes market, companies are developing compact motorcycles to cater to a broader range of customers. For example, in September 2023, Honda Motors Co. Ltd. launched the Moto Compacto, a foldable electric scooter designed for customizable and fun urban mobility solutions. It features a 490-watt electric motor, a top speed of around 15 mph, and a range of up to 12 miles. The scooter is highly customizable, with various accessories and parts for personalization, complementing Honda's upcoming electric vehicles.

Segments:
• By Product Type: Mid-Fold, Vertical Fold, Triangle Hinge
• By Drive Type: Conventional, Electric
• By Price Range: Low, Economy, Premium
• By Applications: Sports, Fitness, Commercial, Other Applications
• By Distribution Channel: Offline, Online

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the folding bikes market in 2023 and is expected to continue leading. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the folding bikes market:
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Folding Bikes Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Folding Bikes Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on folding bikes market size, folding bikes market drivers and trends, folding bikes market major players, competitors' revenues, market positioning, and market growth across geographies. The folding bikes market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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