Children Bicycle Market Size, Share, Growth, and Industry Analysis, By Type (Below 14 Inch, 14 - 18 Inch, and Above 18 Inch), By Application (Below 5 Year-Olds, 5-8 Year-Olds, and Above 8 Year-Olds), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

children bicycle market Report Overview

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The global children bicycle market size was USD 3208 million in 2021 and is expected to reach USD 4042 million by 2028, exhibiting a CAGR of 3.3% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with children bicycle market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Two-seater bicycles, which allow for both riders to use pedals, are another common type of children's bicycle that is frequently preferred by siblings of the same age. As a result, it can be seen that manufacturers often add new features to their products to pique the attention of their target market. Manufacturers have been planning athletic events, marathons, and other activities to encourage kids to cycle for the past few years. These gatherings give product manufacturers the chance to interact with kids of all ages.

Children seem to be particularly drawn to bicycles that include vibrant colors and contemporary designs. Additionally, the majority of these bicycles are modeled after well-known sports figures, comic book characters, superheroes, and children's personalities. Children also favor goods with musical horns, illuminated wheels, and baskets that are either placed in front of the handlebars or behind the seat. These factors have augmented the children bicycle market shares.

COVID-19 Impact: Closing of Factories and Large Scale Businesses to Affect the Market Negatively

COVID-19 barely made a dent in the market. Due to the lockdown and restrictions, factories and other industrial facilities had to close, which was what caused this. The market is having difficulties as a result of disruptions in the supply and transportation networks. The usage of internet and e-commerce platforms, however, increased as a result of various relaxations, which led to an increase in e-commerce sales. The future of the market is also more optimistic as a result of the increase in internet and e-commerce platform usage.

Latest Trends

"Technological Advancements to Improve the Market Expansion"

An growth in market value is a result of expanding manufacturing technology-related technical advancement. The industry's future is bright due to a rise in technological advancements created with the goal of lowering production costs and waste, as well as the rising popularity of online washing services.  The children bicycle market growth will also be influenced favorably by an increase in the robust demand across a variety of end-use sectors, including residential and commercial. The rate of market expansion would be slowed by a spike in demand for cutting-edge technology. Due to increased industrialisation and the industry's high acceptance rate, there will be a greater need for children's bicycles.

children bicycle market Segmentation

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• By Type

According to type, the market can be segmented into Below 14 Inch, 14 - 18 Inch, and Above 18 Inch amongst which Below 14 Inch hold the largest market share.

• By Application Analysis

Based on application, the market can be divided into Below 5 Year-Olds, 5-8 Year-Olds, and Above 8 Year-Olds amongst which Below 5 Year-Olds hold the largest market share.

Driving Factors

"Rising Health Consciousness to Drive the Market Growth"

The growing awareness of health issues among people throughout the world is causing the market for children bicycles to grow considerably. Global demand for bicycles will increase as the population grows. Increased consumer spending power has boosted new bike sales in numerous regions throughout the world due to reasons such as economic development, rising disposable income, and growing urbanization.

"Advancements in Technology to Augment the Market Growth"

Technology advances in the most advanced technology domains have led to the development of mobile apps that inform users about their daily levels of fitness and required water consumption. These apps are used by gymnasts and athletes to monitor their fluid consumption throughout the day. Increased disposable income and a higher standard of living are anticipated to drive industry growth over the forecasted time frame. The market for interactive children bicycles is expanding as fitness enthusiasts increasingly choose products that enhance their workouts.

Restraining Factor

"Fluctuations in Prices to Restrain the Market Growth"

The unpredictability of raw materials and equipment prices poses a significant threat to the market's growth. Furthermore, the uneven supply of raw materials in one particular location is hurting the market's potential to expand. The price of children's bicycles is another factor that would hinder the market's growth. The market must make significant financial investments in order to buy the essential machinery and run operations, which is one of its biggest challenges. High equipment running and maintenance expenses will also limit the potential for expansion. Obstacles are also being created by high production prices. Expensive research and development expenses will also impede the market's growth rate.

children bicycle market Regional Insights

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"North American Region to Influence the Market Share due to Research and Development"

North America, which is the largest region in terms of market size, has experienced significant growth and is expected to continue to do so.  Due to the high number of industry competitors there as well as ongoing research and development in the field of artificial intelligence, the United States has the largest market share in terms of revenue. This is another factor driving the market expansion of children's bicycles.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Accell (U.S.)
• Giant (U.S.)
• Dorel Industries (Canada)
• Trek (U.S.)
• Hero Cycles(India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.