Published Date : Jul 30, 2018
ALBANY, New York, July 30, 2018: Folding bikes are typically smaller than the traditional bicycles and can be easily folded to a much more manageable size. A recent on its market by MarketResearchReports.biz is titled, “Folding Bikes Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2026.” The report finds that folding bike is fast becoming popular in the bicycle market because it is much more convenient to carry around. As a result, the folding bike market is expected to surge steadily in the next couple of years.
Folding bikes are being increasingly used for both recreational use and day-to-day activities. Rising awareness about one’s health which is egging people to take up various physical activities is also having a positive impact on the folding bikes market worldwide. Apart from that, launch of more evolved products having better features and functionalities every now and then, owing to continued thrust on product development by savvy players is also positively impacting sales of folding bikes.
Posing a challenge to the folding bikes market, on the other hand, is the challenges pertaining to safety and design. They are quite complicated to design and this often deters smaller players with limited capital to emphasize more on product innovation. Notwithstanding such challenges, the folding bikes market is expected to surge because of the increasing spending capacity of people all over the world, development of cycling tracks in urban pockets, and also because of the increasing interest in keeping fit. What is helping the folding bikes market is their moderate prices too.
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There are different types of folding bikes available in the market. Those include, vertical fold, mid fold, magnet folding and suspension system, and triangle hinge, among others. Among them, the mid-fold folding bikes are seeing maximum sales in the market and going forward too, would likely clock higher sales.
Depending upon the size of the wheel again, the folding bikes market can be segmented into 20 inch, 26 inch, 24 inch, 700 cc, and others. Of them, most of the riders are opting for 20 inch wheel size since they are compact and hence can be easily carried around. Owing a smaller diameter, 20 Inch wheels can be folded easily and weigh comparatively lesser than large sized wheels.
From a geographical standpoint, Europe accounts for a leading share in the global folding bikes market. Currently, the region commands maximum revenue and going forward too is expected to rise at a healthy clip.
Some of the prominent companies operating in the global market for folding bikes that have been profiled in the report are Bobbin, Brompton, Montague Crosstown, Bickerton Junction 1707 City, Raleigh Evo-2, Dahon, and Pacific Cycles. Most of these players are seen focusing in coming up with more effective design for bikes that would offer a seamless riding experience.
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