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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Navigating the kids' bicycle market is challenging, as parents aim to give their children a great start in cycling. The numerous health benefits of cycling further encourage its adoption. Manufacturers like Pinnacle, Frog, and Islabikes have entered the market with enhanced features and designs. The rising interest among children in cycling is boosting the demand for kids' bicycles. Compared to other age groups, children are more frequently seen riding bicycles, highlighting their enthusiasm for this activity.
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 should be given the opportunity to discover and nurture a passion for cycling. Both the government and the bicycle industry are committed to promoting and sustaining this enduring trend. The continuous updates and enhancements to bicycle products, featuring bright colors, comfort, and superhero themes, attract children globally. Additionally, the emergence of e-bikes offers an appealing option for tech-savvy younger generations.
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 Asia-Pacific e-bike industry is primarily driven by the region's numerous production facilities and the overall expansion of the automotive and other sectors. The low manufacturing costs in the Asia-Pacific region attract many new investors, fostering rapid growth in the e-bike market. Additionally, due to competitive pressures, manufacturers are increasingly focusing on collaborations and partnerships to promote their products and strengthen their market presence.
Key Segments in the Kids’ Bicycle Market:
- By Product Type :
- Battery-operated
- Conventional
- By Application :
- Transporting
- Racing
- By Industry Vertical :
- Sports
- Fitness
- Healthcare
- Others
- By Size Type :
- Less than 12 inch
- 12 inch -14 inch
- 14 inch - 16 inch
- 16 inch -18 inch
- 18 inch - 20 inch
- 20 inch - 24 inch
- By Region :
- North America
- Latin America
- Asia Pacific
- MEA
- 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.
