Key companies in the global market include Brompton Bicycle Ltd, Dahon California Inc, Tern Bicycle, Montague Corporation, Giant Manufacturing Co. ltd, Strida Folding Bicycle, Pacific Cycles, Birdy Bikes, Gocycle, Hummingbird Bike Company, and others
Luton, Bedfordshire, United Kingdom, Oct. 01, 2024 (GLOBE NEWSWIRE) — The global Folding Bikes Market is poised for substantial growth in the coming decade, driven by the increasing demand for compact and eco-friendly transportation solutions. As cities around the world become more congested and environmental concerns rise, folding bikes are emerging as a convenient, space-saving alternative for urban commuters. According to Exactitude Consultancy, the folding bikes market is expected to grow at 8.7% CAGR from 2022 to 2029. It is expected to reach above USD 1,288 million by 2029 from USD 607 million in 2020.
The shift towards more sustainable and efficient modes of transportation is creating new opportunities for manufacturers and suppliers of folding bikes. With their unique ability to fold into a compact size, these bikes are gaining traction among city dwellers who are looking for easy-to-carry, lightweight transportation options that seamlessly integrate with public transit.
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Urbanization and Demand for Portable Solutions Fuel Market Growth
The growth of urban populations is a key driver for the folding bike market. As more people move to cities, traffic congestion is becoming a major issue, leading to longer commutes and rising air pollution levels. Folding bikes offer a solution by providing commuters with a portable, efficient, and environmentally-friendly alternative to […]
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