Folding Bikes Market- Europe Will remain a Highly Profitable Market during the Forecast Period 2017 - 2026
Albany, NY -- (SBWIRE) -- 12/29/2017 -- Leading players in the global folding bikes market remain focused on product innovation and design enhancements in order to gain a competitive edge. Despite the high level of sophistication, manufacture are able to keep the prices of folding bikes quite moderate. Di Blasi, Bobbin, Raleigh Evo-2, Dawes Diamond, Tern Verge X20, Pacific Cycles, Tern Link, Schwinn, Strida LT, Independent Fabrication, Gocycle, Brompton, Montague Crosstown, Bickerton Junction 1707 City, Dahon, STRiDA EVO, Vilano, SwissBike, Tern Joe, and LightSpeed.
Folding bikes are usually smaller than a conventional bicycle and as the name suggest can be folded up or otherwise reduced into a more convenient size/shape. Folding bike is a fast growing bicycle category owing to its various practical and plausible uses in personal mobility as well recreation. Transparency Market Research (TMR) reveals that the global market for folding bikes is set to surge at a CAGR of 5.2% during 2017 to 2026 and reach a valuation of US$ 213,206.0 Mn by 2026-end.
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Folding bikes are finding practical uses is recreation and daily life. Increasing awareness about health and growing concerns over global pollution is expected reflected favourably on the global market for folding bikes in the forthcoming years. In addition, folding bikes are gaining popularity among people who are shifting towards healthy and eco-friendly solutions that also carry an element of style. The growth trend is likely to continue with more people inclining towards healthy and green living. On the other hand, challenges associated with design, safety and performance limitation remain a major growth deterrent. Factors as such as expected to support the growth of the market during the forecast period.
Key Insights from the Report Include:
During the forecast period, Europe is expected to dominate the global folding bikes market in terms of revenue. The region's folding bikes market is projected to exhibit a CAGR a healthy compound annual growth rate from 2017 to 2026.
On the basis of product type, the mid-fold segment currently commands for little under 25% revenue share of the global market and is likely to reflect a steady CAGR of 3.8% during the assessment period. This segment is expected to grow by US$ 2,588.0 Mn annually over the course of the forecast period.
Based on wheel size, the 20 Inch segment is expected to remain highly lucrative over 2026. Currently, the segment is commands for more than 29% revenue share of the global market and is projected to witness a CAGR of 4.7% during the forecast period.
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By application, the fitness is expected to remain high attractive throughout the projection period. The segment presently represents a market valuation of over US$ 77,600 Mn and is projected to witness a CAGR of 5.8% between 2017 and 2026. This is primarily owing to increasing popularity of folding bikes among health conscious consumers. Increasing use of bicycles as a recreational and exercise tool is expected to play an important role in driving the growth of the market.
On the basis of price range, the premium segment will continue to hold its dominant position beyond 2017. Currently, this segment represents a market valuation of more than US$ 32,700 Mn and is projected to increase at a CAGR of 4.5% during the projection period.