Kids Bicycle Market to Reach $12.1 billion, Globally, by 2032 at 5.3% CAGR: Allied Market Research
The growth of the global kids bicycle market is driven by childhood obesity concerns and rise of e-bikes.
Wilmington, Delaware, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled,* “**Kids Bicycle Market** by Type (Battery Operated, Conventional), By Age Group (3 To 4 Years, 4 To 6 Years, 6 To 8 Years, 8 To 15 Years), By Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032”. *According to the report, the global kids bicycle market generated $7.3 billion in 2023 and is anticipated to generate $12.1 billion by 2032, witnessing a CAGR of 5.3 % from 2023 to 2032.
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Kids naturally love riding a bicycle. Cycling offers a full-body workout which is essential for kids. Kids bicycles feature lightweight frames, smaller wheels, and age-appropriate components tailored to children's comfort and safety.
*Prime determinants of growth*
The market is experiencing a surge in demand for specialized kids' bicycles, such as balance bikes and mountain bikes, as parents seek products that cater to their child's specific needs and preferences. Secondly, the introduction of innovative features like lightweight frames, adjustable components, and safety enhancements has further propelled the market growth. Thirdly, the pandemic-induced shift towards online shopping has given a significant boost to the kids' bicycle market, with consumers increasingly turning to e-commerce platforms for convenience and variety. However, the industry faces challenges, including safety concerns related to children using bicycles, which necessitate stringent regulations and safety standards. Additionally, rising raw material costs and supply chain disruptions pose challenges to manufacturers.
*Report coverage & details:*
*Report Coverage* *Details*
Forecast Period 2023–2032
Base Year 2023
Market Size in 2023 $7.3 billion
Market Size in 2032 $12.1 billion
CAGR 5.3%
No. of Pages in Report 444
Segments Covered Type, Age Group, Distribution Channel, and Region
Drivers Childhood obesity concerns Rise of E-bikes
Opportunities Innovative Designs and Safety Features
Restraints Increasing Digitalization
*The Conventional segment to **maintain** its leadership status throughout the forecast period*
Based on type, the conventional segment held the highest market share in 2023, accounting for more than three-fourths of the global Kids Bicycle Market revenue, and is estimated to maintain its leadership status throughout the forecast period. The demand for conventional kids' bicycles is on the rise due to their timeless appeal and foundational role in children's development. However, battery operated segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032.
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*The 6 to 8 years segment to **maintain** its leadership status throughout the forecast period*
Based on age group, the 6 to 8 years segment held the highest market share in 2022, accounting for nearly one-third of the global Kids Bicycle Market revenue, and is estimated to maintain its leadership status throughout the forecast period. As kids become more adventurous, mountain bike-inspired designs are gaining traction. Adjustable components like handlebars and seat heights accommodate growing bodies. Additionally, the 8 to 15 years segment is projected to manifest the highest CAGR of 6.5% from 2023 to 2032.
*The offline segment to **maintain** its leadership status throughout the forecast period.*
Based on the distribution channel, the offline segment held the highest market share in 2022, accounting for more than four-fifths of the global Kids Bicycle Market revenue, and is estimated to maintain its leadership status throughout the forecast period. Specialty stores offer expert guidance on choosing the right size and type of bicycle for each child. Collaborations with local communities and schools enhance brand visibility. In-store events, workshops, and maintenance services cultivate customer loyalty. Additionally, the online segment is projected to manifest the highest CAGR of 6.5% from 2023 to 2032.
*Asia-Pacific to **maintain** its dominance by 2032*
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global Kids Bicycle Market revenue. With rising disposable incomes, mid-range and premium models are gaining ground, featuring enhanced safety features and modern designs. In addition, the LAMEA region is also expected to witness the fastest CAGR of 9.0% from 2023 to 2032 and is likely to dominate the market during the forecast period. Electric kids' bikes are gradually gaining attention in wealthier pockets of the region, catering to the growing awareness of sustainable mobility.
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*Leading Market Players: -*
· Guardian Bikes
· Trek Bicycle Corporation
· Frog Bikes Limited
· Fuji Bikes
· Huffy Corporation
· SCOTT Sports Sam
· Strider Sports International, Inc.
· Islabikes
· Haro Bikes
· Alta Cycling Grou
· Expedia Group, Inc.
The report provides a detailed analysis of these key players in the global Kids Bicycle Market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, and strategic moves of market players to showcase the competitive scenario.
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