The ‘Global Kids Bicycle Market Share, Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global kids bicycle market, assessing the market on the basis of its segments like product types, sizes, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Market Price, Trends, Growth, Analysis, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 4.73 Billion
• Forecast CAGR (2023-2028): 5.10%
• Forecast Market Size (2028): Nearly USD 6.33 Billion
A major driver of the global kids bicycle market is growing health concerns of kids among parents. A surge in the popularity of smartphones and other electronic devices has led to a sedentary lifestyle among kids as they now spend hours playing games on phones and tablets. This has prompted parents to encourage healthy leisure activities among kids such as playing outdoor sports and bicycling as an alternative to smartphones and tablets.
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Several initiatives taken by schools, activity clubs, and societies for the inclusion of bicycling in the everyday lives of kids are also important factors driving the market. Competitions and tournaments featuring cycle racing can encourage kids to spend more time bicycling. Moreover, including cycling in an after-school activity club also favours the market growth as many kids can choose cycling clubs.
Conventional cycles occupy a significant share in the global kids bicycle market due to their affordability and easy availability. These bicycles are also easier to maintain and last a long time compared to their battery-operated counterparts. Furthermore, these bicycles are also more suitable from a fitness perspective as they require peddling for moving, which serves as a form of exercise.
Kids Bicycle Industry Definition and Major Segments
Kids bicycle is a bicycle or a pedal cycle which is specifically designed for the usage of kids, and they often come built with training wheels or safety pads to ensure the safety of kids. It is further equipped with adjustable height seats and handles that can be modified as the kids grow older.
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On the basis of product type, the market is classified into:
• Battery Operated
Based on size, the kids bicycle market is categorised into:
• Less than 16 Inches
• 16-18 Inches
• 20-24 Inches
On the basis of distribution channel, the market is divided into:
Based on region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Kids Bicycle Market Trends
A key trend propelling the growth of the global kids bicycle market is the rising inclusion of bright designs and cartoon characters on these bicycles. Several players are designing bicycles after superheroes or famous cartoon characters, which can draw the attention of kids. Moreover, several new models of cycles are equipped with musical horns, headlights, and colourful baskets to enhance their appeal.
Furthermore, increasing advertisement and promotions by celebrities, along with their children, is also expected to boost sales of kids bicycle. Collaboration between market players and renowned celebrities to increase their brand outreach also positively influences the market.
Increasing mergers and acquisitions by leading also favours the market demand. For instance, in July 2023, Bike Club, a kid’s bike subscription service provider, announced its decision to acquire a Barcelona-based kids bicycle subscription platform, Bicircular. Through this acquisition, the company aims to enhance the sustainability of cycling in Europe and enhance its presence in the region.
Europe accounts for a sizeable share of the global kids bicycle market owing to the increasing awareness regarding the health and fitness benefits of bicycling among parents. Cycling culture is prevalent in the region, which further fosters the sale of kids bicycles. Additionally, the availability of separate cycling paths in several major cities also provides lucrative opportunities to the market.
Key Market Players
The major players in the global kids bicycle market report are:
- Trek Bicycle Corporation
- Giant Bicycle, Inc.
- Strider Sports International, Inc.
- SCOTT Sports SA.
- Cycling Sports Group, Inc.
- MERIDA & CENTURION Germany GmbH
- woom GmbH
- Frog Bikes Ltd.
- BikeCo, LLC
- CICLI PINARELLO SRL
- Santa Cruz Bicycles, LLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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