6 Key Takeaways on Future of Kids Bicycle Market for Forecast Period 2017-2022
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However, a gradual decline has been witnessed in the number of children having access, or owning a bicycle over the past couple of years. In addition, parents are cautious about letting their kids to cycle on busy roads, and are anxious in selecting and maintaining the bicycle. This factor is expected to deter the adoption and practice of cycling. It is essential to nurture an intrinsic enthusiasm in children about “cycling is fun”, and encourage them a bit for cycling. For same reasons, the bicycle industry as well as the government have been taking responsibilities to improve and promote the ever-lasting trend of cycling in kids. One of the latest trend observed in the global market for kids’ bicycle is that parents are persuading their children that a bicycle is an enjoyable and accessible way of family mobility.
6 Key Future Prospects of Global Kids Bicycle Market
1. Based on pricing, mid-range kids bicycles are expected to remain sought-after in the market, and will account for over half share of the market in terms of revenues. Mid-range bicycle sales will exhibit the fastest expansion through 2022 in the market, followed by the premium range kids’ bicycles.
2. Sales of kids’ bicycles of age group 9-12 years are expected to reflect an impressive expansion, and hold approximately one-third market revenue share throughout the forecast period. This age group segment is estimated to retain its dominance in the global kids bicycle market.
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3. Kids bicycle sales in the direct to customer brand outlet will exhibit the fastest expansion through 2022. Independent out will remain the largest distribution channel in the global kids bicycle market, with sales projected to account for roughly US$ 5,000 Mn revenues by 2022-end.
4. Based on product type, 20-24 inch kids’ bicycles will continue to be sought-after among consumers. 18-20 inch kids’ bicycles will remain the second most lucrative product in the market. Revenues from the aforementioned product segments are projected to collective account for over half market share throughout the forecast period.
5. Asia-Pacific excluding Japan (APEJ) is expected to retain its dominance in the global kids bicycle market, followed by Europe and North America.
6. Key players profiled in Fact.MR’s report include Tube Investments of India Limited, Trek Bicycle Corporation, Tianjin Fuji-Ta Bicycle Co. Ltd., Tandem Group plc, Samchuly Bicycle Co., Ltd., Merida Industry Co. Ltd., Hero Cycles Ltd., Haro Bicycle Corporation, Firefox Bikes Private Limited, Dorel Industries Inc., Atlas Cycles (Haryana) Limited, and Accell Group N.V.
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