Kid's Bicycle Market Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022
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A bicycle is a vehicle, devoid of the need for fuel, composed of two wheels and held in a frame placed one behind the other. Bicycles are propelled by pedals fixed at their bottom, and are steered with the help of handlebars, that are attached at the top of the front wheel. Kids’ bicycles are smaller in size, and sometimes have two small support wheels at the bottom-end of the rear wheel.
Navigation of the market for kids’ bicycles has always remained challenging. Parents are more focused on providing their children with an impressive introduction of the cycling world, particularly when it is their children’s first bike. In addition, if kids turn out to possess the racing bug, parents are concerned about choosing their bicycles that are equipped with safety and comfort, at the same time being competitive as well without having huge impacts on their bank accounts. Health benefits associated with cycling is another factor which has driven demand for bicycles among consumers. A number of kids bicycle brands have emerged, with improved appearances and performance, such as Islabikes, Frog, and Pinnacle, attracting interest of kids and boosting sales of bicycles. Children tend to own a bicycle more likely than any other age group. The aforementioned factors might influence growth of the market in the near future.
However, proportion of children owning or having access to bicycles has witnessed a gradual decline over the past few years. Moreover, fear of parents about their children cycling on busy roads, coupled with the anxiety to choose and maintain a bicycle has further deterred the practice and adoption of cycling. Kids are required to be encouraged a bit for cycling, and nurturing an intrinsic enthusiasm that “cycling is fun”, which is losing its significance, is essential. For these reasons, the government as well as the bicycle industry are taking responsibilities of promoting and improving the long-lasted trend of cycling. A latest trend observed in the global kids bicycle market is parents persuading their children that cycling is an accessible and enjoyable form of family mobility. The global market for kids’ bicycles is expected to register an average single-digit CAGR during the forecast period 2017 to 2022, according to the recently published report by Fact.MR. Global sales of kids bicycles are projected to rake in approximately US$ 18,000 Mn revenues by 2022-end.
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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.
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.
20 Inch – 24 Inch Kids’ Bicycles to Remain Sought-after in the Market
20 inch – 24 inch kids’ bicycles are expected to remain sought-after in the market, followed by 18 inch – 20 inch kids’ bicycles. Revenues from these two product segments will collectively account for more than half share of the market over the forecast period.
Independent outlet will continue to be the most lucrative distribution channel for kids’ bicycles, with sales poised to reach nearly US$ 5,000 Mn in revenues by 2022-end. Sales of kids’ bicycles in direct to customer brand outlet are estimated to exhibit the highest CAGR through 2022.
Sales of kids’ bicycles for age group 9 years – 12 years will register an impressive CAGR, to account for nearly one-third share of the market over the forecast period. This age group segment will remain dominant in the market, followed by the age group 7 years – 9 years, in terms of revenues.
Accounting for more than half revenue share of the market based on pricing, mid-range kids’ bicycles will remain preferred in the global market. Sales of mid-range kids’ bicycles will register the highest CAGR through 2022, followed by premium-range kids’ bicycles.
Fact.MR’s report has listed some key players in the global kids bicycles market, which include 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, and Tube Investments of India Limited.
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