Global Children Bicycle Market 2016-2020
Overview of the global children's bicycle market
Technavio’s market research analyst predicts that the global children's bicycle market will grow at a steady CAGR of more than 2% by 2020. Owing to the rising cases of obesity and other health-related issues because of the sedentary lifestyles of children, several parents have been trying to increase the participation of their children in physical activities such as cycling. Also, several organizations are launching multiple bike racing events and initiatives, which are aimed at engaging children in physical activities such as bicycling. For instance, the Danish Cyclists' Federation conducts an annual campaign, "Bike to School" that adds thousands of new children cyclists on the school routes every year.
Vendors in the market are launching technologically advanced products to enhance the sale of their bicycles. Innovative products such as lightweight wooden bicycles help children to learn riding a bicycle at an early age. These bicycles aid in better coordination and balance and helps to reduce the time taken to teach children how to ride. Also, these bikes have small grips that are suitable for small hands. Orbea’s Grow Bikes have removable parts that can be adjusted as the children grow, frames can be lengthened, and the seat post and handlebar can be raised according to the required height. Similarly, the manufacturers have come up with folding bicycles that are easier to transport than regular ones.
Segmentation by store format and analysis of the children's bicycle market
- Specialty stores
- Chain sporting goods stores
- Online retailing
During 2015, the specialty stores dominated the market and accounted for around 51% of the total market share. These stores carry popular brands of a particular manufacturer and promote specialized products. Consumers prefer buying bicycles from these stores as they have an extensive portfolio of products and provide the required support and information to consumers via expert customer service personnels. Some of the popular specialty bicycle shops include Adeline Adeline, ERIK'S BIKE SHOP, Evans Cycles, Guthrie Bicycle, Highland Cyclery, Bike Gallery, and Zanes.
Geographical segmentation and analysis of the children's bicycle market
- North America
APAC will continue to dominate the market during the forecast period and is expected to occupy more than 38% of the total market share by 2020. The growing availability of high-quality bicycles coupled with rising concerns among parents about obesity in children will be the key drivers for the growth of this market in APAC. Vendors in the market are also coming up with high-tech products with trendy designs and features. Also, with the growing popularity of cycling among children, the prospects for growth in this market will have a positive outlook until the end of 2020.
Competitive landscape and key vendors
The market is marked by the presence of multiple vendors who compete on the basis of price, product portfolio, and consumer reach. The growth of vendors depends on several factors such as market conditions, government support, and industry development. Due to the high level of competition in the market, vendors have been compelled to focus on the use of effective marketing initiatives to gain customer engagement.
Leading vendors in the market are -
- ByK Bikes
- TI Cycles
Other prominent vendors in the children's bicycle market are Electra, Firefox, Giant, Haro Bike, Hero Cycles, Huffy, Islabikes, Malvern Star, Ridgeback, and Sun Bicycles.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global children's bicycle market?
- What are the key market trends impacting the growth of the global children's bicycle market?
- What are the challenges to market growth?
- Who are the key vendors in the global children's bicycle market?
- What are the market opportunities and threats faced by the vendors in the global children's bicycle market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global children's bicycle market?
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