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Kids Bicycle Market Set for Remarkable Growth, Expected to Surpass US$ 29.64 Billion by 2033 at 4.7% CAGR

04-19-2024 08:19 AM CET | Sports

Press release from: Fact.MR

Kids Bicycle Market Set for Remarkable Growth, Expected

By 2023, the kids bicycle market is projected to be valued at US$ 18.7 billion, and by 2033, it is anticipated to grow at a compound annual growth rate (CAGR) of 4.7% to reach US$ 29.64 billion. By the end of 2023, sales of children's bicycles are predicted to make up over 37% of the worldwide bicycle market.

A positive shift in the demand for bicycles has been attributed to a mix of bicycle customization and infrastructure improvements in some nations. Furthermore, bike manufacturers can grow their business by participating in different cycling competitions.

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Bicycles for kids have never been an easy market to navigate. When a child receives their first bicycle, parents everywhere strive to provide them with an excellent introduction to the world of cycling.

The many health benefits of cycling are another factor that promotes adoption. A plethora of child-cycle manufacturers, including as Pinnacle, Frog, and Islabikes, have made their way into the market with improved features and designs. The demand for children's bicycles is rising as a result of the growing interest of children in this. Compared to other age groups, children are more likely to be seen riding bicycles.

Main Points of the Market Analysis:

• By 2032, the kids bicycle market is expected to have grown by 1.4 times to reach US$ 25.0 billion.
• Between 2017 and 2021, the market saw a 3.3% CAGR.
• In 2021, the kids bicycles with sizes ranging from 20 to 24 inches held a dominant market share of US$ 5,191.9 million.
• In 2022, East Asia held a 44.1% market share, leading the industry.
• In 2022, the combined market shares of Europe, South Asia, and Oceania are projected to be 38.3%.

Youngsters need to be allowed the chance to discover an intrinsic passion for riding and encouraged to pursue it. For the same reasons, the government and the bicycle industry have accepted responsibility for fostering and advancing the long-lasting trend of youngsters riding bicycles.

Children from all over the world are drawn to the market by the frequent upgrades and alterations made to products, as well as the addition of features like vivid colors, comfort, and superhero motifs. The arrival of E-bikes may potentially present an alluring choice for younger generations whose interests lie in technology.

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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The numerous production facilities that are accessible as well as the general expansion of the automotive and other sectors on the Asian continent are the main drivers of the Asia-Pacific e-bike industry. The Asia-Pacific region's low manufacturing costs will draw in a large number of new investors and accelerate the expansion of e-bikes in the area.

Due to competition presence from other players, manufacturers are now emphasising on different types of collaborations and partnerships to promote their product.

Key Segments in the Kids' Bicycle Market:
• By Product Type :
o Battery-operated
o Conventional
• By Application :

o Transporting
o Racing
• By Industry Vertical :

o Sports
o Fitness
o Healthcare
o Others
• By Size Type :

o Less than 12 inch
o 12 inch -14 inch
o 14 inch - 16 inch
o 16 inch -18 inch
o 18 inch - 20 inch
o 20 inch - 24 inch
• By Region :

o North America
o Latin America
o Asia Pacific
o Europe

In summary, the Kids Bicycle Market is a dynamic and developing industry driven by a variety of causes such as increased disposable incomes, a growing inclination toward outdoor activities, and parental worries for their children's health and safety. Considerable advancements in design, materials, and safety measures have been introduced to the market with the goal of improving the riding experience while guaranteeing the protection of children.

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About Fact.MR
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