Rockville, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global kids bicycle market is likely to be valued at US$ 18.0 billion in 2022 and is expected to expand at a CAGR of 3.6% during the forecast period.
The market for children's bicycles has always been difficult to navigate. Parents all around the world focus on giving their children a fantastic introduction to the cycling world, especially when giving their children their first bicycle.
Parents get concerned when choosing bicycles for children who have difficulty racing bicycles and seek comfort, safety, in addition to competitiveness and affordability.
Numerous health advantages of cycling are another element encouraging adoption. Numerous brands of children's bicycles, including Islabikes, Frog, and Pinnacle, have entered the market with enhanced features and aesthetics. Children are becoming more interested in this, which is increasing demand for children's bicycles. Children are more likely to be seen riding a bicycle than people of other age groups.
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Children must be given the opportunity to develop an innate enthusiasm for riding and also be given some encouragement to do so. The bicycle industry and the government have both taken responsibility for enhancing and promoting the enduring trend of cycling in children for the same reasons.
Key Takeaways from Market Study
- The global kids bicycle market is projected to grow 1.4X and reach US$ 25.0 billion by 2032.
- The market witnessed 3.3% CAGR between 2017 and 2021.
- The 20 inch - 24 inch type kids bicycle dominated the market with US$ 5,191.9 million valuation in 2021.
- East Asia dominated the market with 44.1% market share in 2022.
- Together, the Europe and South Asia and Oceania are likely to represent 38.3% market share in 2022.
"China has remained the primary consumer of kids bicycle due to its mounting interest in cycling activities." says a Fact.MR analyst.
Key Segments in the Kids' Bicycle Market
- By Product Type :
- Battery-operated
- Conventional
- By Application :
- Transporting
- Racing
- By Industry Vertical :
- Sports
- Fitness
- Healthcare
- Others
- By Size Type :
- Less than 12 inch
- 12 inch -14 inch
- 14 inch - 16 inch
- 16 inch -18 inch
- 18 inch - 20 inch
- 20 inch - 24 inch
- By Region :
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Market Strategies
The market is pushed by constant product updates and modifications and the addition of features like superhero themes, bright colours, and comfort which are luring children from all over the world. The introduction of E-bicycles can also be an attractive option for the children of the new generation having inclination towards technology.
The Asia-Pacific e-bike market is driven by the various manufacturing facilities available and the overall growth of the automotive and other industries on the Asian continent. Low costs of manufacturing in many Asia-Pacific countries will attract many new investors, further fueling the growth of e-bicycles in the region.
Due to competition presence from other players, manufacturers are now emphasising on different types of collaborations and partnerships to promote their product.
Key Companies Profiled
- Accell Group N.V.
- Atlas Cycles (Haryana) Limited
- Dorel Industries Inc.
- Firefox Bikes Private Limited
- Haro Bicycle Corporation
- Hero Cycles Ltd.
- Merida Industry Co. Ltd.
- Samchuly Bicycle Co., Ltd.
- Tandem Group plc
- Tianjin Fuji-Ta Bicycle Co. Ltd.
- Trek Bicycle Corporation
- Tube Investments of India Limited.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global kids bicycle market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
the study reveals essential insights on the kids bicycle on the basis of product type (less than 12 inch, 12 inch -14 inch, 14 inch - 16 inch, 16 inch -18 inch, 18 inch - 20 inch,20 inch - 24 inch), age group (less than 2 years bicycle, 2 years - 3 years bicycle, 3 years - 5 years bicycle, 5 years - 7 years bicycle, 7 years - 9 years bicycle, 9 years - 12 years bicycle), pricing (low range bicycle, mid range bicycle, premium range bicycle), distribution channel (independent outlet, direct to customer institutional channel, direct to customer brand outlet, modern trade channels, franchised outlet, direct to customer online channel, third party online channel), across key regions namely (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Bicycle Panniers Market: Bicycle panniers also termed as saddlebags or side bags are the bags, baskets, or similar containers used for carrying stuff including but not limited to shoes, clothes, lunch, files & folders, laptop, etc. In general, bicycle panniers are sold in pairs and are capable of handling heavy weights for long tours lasting days or even weeks.
Men's Bicycle Market: Bicycles have played an important role in the recent history of man. They have also managed to accede with the relentless evolution of the transportation system.
Bicycle Subscription Market: Increased focus on health, eco-friendly rides, and affordability are the key reasons more people are riding bicycles these days. Although the purpose of the bicycle has evolved over time, from a wooden bicycle in the nineteenth century to a foldable bicycle in the twenty-first century, it continues to tempt consumers and is a preferred mode of transportation for many.
Hybrid Bicycles Market: Hybrid bicycles provides more comfort to the consumers. Nowadays, hybrid bicycles are known as the workhorse of bicycles, and due to its extremely versatile properties, it has gained a high momentum in the recent years in the market.
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