The folding bikes market is expected to reach $1,039.005 million by 2024 from $619.184 million in 2018 growing at a CAGR of 9.01%. The advantage of folding bikes is its compactness and easy to carry feature which drives the demand in the market. Due to rising health concerns and to remain fit folding bikes are considered as an exercise tool around the globe which becomes a driving factor for the growth of the market. Growing awareness towards environment and endless stream of traffic has encouraged people to adopt bicycle as their daily mode of commutation. However folding bicycles still faces competition from conventional bicycles in terms of speed and performance which is considered as the restraining factor for the growth of the market.
The Folding Bikes Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by product, frame material and geography.
The folding bikes market has been segmented based on by product, frame material and geography. By product, market is segmented as half-mid folding, vertical folding, triangle hinge and magnet folding. By frame material, the market is segmented as steel, aluminum and carbon.
Regional analysis has been provided with detailed analysis and forecast for the period 2019 to 2024. The global market has been broken down into North America, Europe and Asia Pacific. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
The folding bikes market has been segmented by type, product, frame material and geography.
By Frame material
Middle East and Africa