Global Ride-On Bikes Market to Zoom Past USD 15 Billion by 2031, Riding High at 7.4% CAGR

Allied Market Research published a report, titled, "Ride On Bikes Market by Age Group (1 to 6 years, 7 to 12 years, and Greater than 12 years), Sales Channel (Offline and Online), and Propulsion (Non-motorized and Motorized): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global ride-on-bikes industry is expected to generate $7.4 billion in 2021 and is anticipated to generate $15 billion in 2031, witnessing a CAGR of 7.4% from 2022 to 2031.

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Asia-Pacific is expected to experience significant growth during the forecast period. China, Japan, and India are expected to remain lucrative markets in terms of increase in investment and R&D by domestic and overseas players. The market for ride on bikes market is expected to grow significantly as there is an increase in the use of ride on bikes to develop fine and gross motor skills in kids. Ride on bikes promotes physical activity and help train both large and small muscle groups in children. They contribute to strengthening the muscles of the lower body, especially the legs and trunk, and ultimately help develop a sense of balance. Such advantages provided by the ride on bikes are expected to drive the growth of the market.

The ride on bikes developed for age group of 1 to 6 years are equipped with training wheels to improve the skill of balancing. The manufacturers develop ride on bikes with headlights and exciting music to increase the features and quality of the product. In addition, manufacturers provide features such as a foot pedal, and battery display to increase the attractiveness and safety of the bikes.

The increase in demand for rides on bikes for the development of gross and motor skills in kids as well as the rise in demand for a ride on bikes for racing and off-road driving supports the growth of the global ride-on-bikes market. The introduction of new features in a ride on bikes also boosts the growth of the ride on bikes market. However, the surge in the popularity of online games among kids is anticipated to restrict the market growth during the forecast period. Moreover, the rise in inclination toward biking as a physical activity and the surge in popularity of lightweight electric balance bikes is expected to present new opportunities in the coming years. Market players are increasingly investing in the development of advanced ride-on bikes to cater to the growing demand during the forecast period.

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Moreover, government initiatives to promote cycling as a physical activity among kids with help of various programs and training activities are expected to drive the growth of the ride on bikes market. For instance, in February 2020, the government of the UK announced the expansion of the Bikeability training program. Under this program, the government is expected to provide essential bike safety and skills training to children in England. Such initiatives are expected to provide lucrative opportunities for the growth of the market.

Enhanced content such as graphics, videos, comparison charts, and 360-degree product spins provided through online distribution channel is expected to boost the growth of the segment in the ride on bikes market. Moreover, companies promote and sell ride on bikes through their own website or online marketplaces. For instance, Tobbi, a manufacturer of kids ride on car, bikes and toys provide their products through the company's website and e-commerce company websites such as Amazon.

Cycling or riding a bicycle is considered exercise to create a mentally and physically healthy lifestyle. Cycling improves overall lower body function and strengthens leg muscles without overstraining joints. Riding a bike helps recharge energy and relieve stress in children. It also helps build strength and power in the core and lower extremities while improving cardiovascular and musculoskeletal health without putting too much pressure on the joints.

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The online distribution channel is expected to experience significant growth during the forecast period. The online distribution channel is a method of marketing and selling products to customers through internet websites. It can be an internet website of the manufacturer or an already-established online channel, such as Amazon, eBay, and others. There is a surge in purchases of ride on bikes through online distribution channel owing to ease and convenience in shopping. Online shoppers quickly and easily compare ride on bikes prices across various online distribution channels, which has increased the demand for online distribution channels. Online retailers offer a wider range of products online across age groups, categories, interests, featured characters, and brands.

Key players operating in the global ride on bikes market include

Razor USA LLC,
TOBBI,
Suzuki Motor Corporation,
Honda Motor Co., Ltd.,
Kawasaki Heavy Industries, Ltd.,
KTM AG,
Costzon,
Huffy Corporation,
Woom GmbH,
Yamaha Motor Co., Ltd.

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KEY FINDINGS OF THE STUDY

By age group, the greater than 12 years segment is anticipated to exhibit significant growth in the near future.
By sales channel, the online segment is anticipated to exhibit significant growth in the near future.
By propulsion, the motorized segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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