Folding Bikes Market by key players – Brompton Bicycle Ltd., DAHON North America, Inc., Bobbin Bicycles Ltd., Cyclecentric Ltd., Dawes Cycles Limited, Decathlon
PORTAND, OR, UNITED STATES, September 25, 2020 /EINPresswire.com/ — Folding bikes are two-wheeled vehicles with pedals, which are specially-designed bicycles that fold into a compact, portable size for easy transport. Folding bikes provide better mobility and comfort compared to conventional bicycles as they are packed with multiple features such as flexibility for mixed compute, less possibility of theft, and easy carrying or storing. Furthermore, long walking distance between workplaces, station, and homes has encouraged people to adopt a bicycle as a daily mode of transportation. Therefore, increase in trend to adopt bicycles is expected to boost the folding bikes market growth over the forecast period.
COVID-19 scenario analysis:
Governments of many countries have imposed nation-wise lockdown to try and prevent the spread of COVID-19, which has made a great impact on Micro, Small and Medium-sized Enterprises (MSMEs) across the globe.
The R&D department of various automobile manufacturers has been shut as workshops have become inaccessible during this pandemic. This is expected to impact the plans of many companies while some have already postponed their plans for an indefinite time.
The public transportation sector has been severely affected as people traveling are not opting for public transport due to the spread of the virus. They are expected to choose a form of personal mobility, with two-wheelers being a preferred option due to convenience.
The supply chain has been completely disrupted now, with no demand in the market. Companies have to rethink of new strategies to overcome these losses after the lockdown.
Two-wheeler manufacturers are expecting that more people will be willing to buy personal vehicles after the lockdown, which is projected to boost the market growth.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rise in vehicle traffic and increase in awareness about health & pollution are anticipated to boost the market growth over the forecast period. However, pertaining to performance and speed, folding bicycles face stringent competition from conventional bicycles, which is anticipated to act as a key factor that hampers the growth of the folding bicycle market over the forecast period. Furthermore, manufacturers invest in R&D activities to develop innovative bicycles. This helps them to escalate competition and further provide lucrative opportunities for the market.
The folding bikes market trends are as follows:
Rise in vehicle traffic
Majority of the urban population is facing traffic-related problems in their daily life. Long vehicle queue and hours spent in jams force consumers to purchase a foldable bicycle to travel timely and safely within the city limits. Increase in awareness among customers is expected to boost the folding bikes market growth over the forecast period.
Rise in awareness about health and pollution
Busy schedules and modern lifestyle force people to work without exercise and intake junk food, which result in overweight or obesity. In addition, governments and private organizations have encouraged consumers to adopt foldable bicycles as their primary mode of transportation to reduce pollution. Therefore, this is expected to further fuel the folding bikes market growth over the forecast period.
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Key benefits of the report:
This study presents the analytical depiction of the folding bikes market along with current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the folding bikes market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the folding bikes market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the folding bikes market research report:
Which are the leading market players active in the folding bikes market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities of the market?
What are the projections for the future that would help in taking further strategic steps?
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