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The children's bicycle market size is estimated to grow at a CAGR of 5.36% between 2023 and 2028. The market size is forecast to increase by USD 4,883.58 million. The growth of the market depends on several factors such as extension in the range of children's bicycles, supplier chain management, and M&A, donation of bicycles to children and bicycling to counter the obesity problem
This children's bicycle market report extensively covers market segmentation by distribution channel (offline and online), type (18 inch, 20 inch, 16 inch, and 24 inch), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Donation of bicycles to children is notably driving the market growth. Through initiatives such as Bicycle for Every Child and Scale-up Cycling, numerous NGOs and educational institutions encourage children to ride bicycles. These initiatives aim to foster children's cycling behaviors in order to create a more active lifestyle. These initiatives, including Scale-up cycling, are more widespread in European nations because the continent has experienced the largest increase in bicycle use over the previous 20 years. In order to combat childhood obesity, promote outdoor activities, and aid in resolving societal concerns, many organizations throughout the world are giving bicycles to kids as part of their efforts.
Moreover, many children drop out of school because of the long distance to school and lack of availability of transport; this is one of the social issues. This is more prevalent in countries where the per capita income is low compared to developed nations. Thus, the donation of bicycles to children will drive the growth of the global children's bicycle market during the forecast period.
Advanced safety features in children's bicycle is an emerging trend shaping the market growth. The rising number of pedal cyclist fatalities has become a concern for parents. This has led manufacturers to add more safety features to children's bicycles, such as knuckle guards and night vision handlebars, which would improve visibility in low-light conditions. Also, companies are developing a more powerful braking system that will increase the safety of users.
For instance, the Indian brand Hercules launched its Black Hunter ZX range of bicycles in 2020, which is the first in the segment to include a knuckle guard. In addition, the company introduced its new range of handlebars that have an inbuilt flashlight and rear brake light, along with several other features. Thus, the advanced safety features will fuel the growth of the global children's bicycle market during the forecast period.
Safety concerns in the children's bicycle market are a significant challenge hindering the market growth. According to the European Commission, 14% of cyclist fatalities are among children between 6 and 14 years of age. This fatality rate is twice as much as the average percentage for all age groups. Children between the ages of 10 and 14 years also recorded the highest percentage (30%) of cyclist casualties.
Consequently, the rise in the cyclist fatality rate could restrict the growth of the kid bicycle market. Thus, the safety concerns will hinder the growth of the global children's bicycle market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Children's Bicycle Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accell Group NV - The company offers children's bicycles under the brand name Loekie such as Haibike, Winora, and Ghost.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The conventional brick-and-mortar stores that customers may physically visit to make product purchases are referred to as offline distribution channels. There are various offline distribution channel divisions in the global children's bicycle market. These consist of speciality bicycle shops, department stores, sports goods stores, supermarkets/hypermarkets and online-to-offline (O2O) stores.
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The offline segment was the largest segment and was valued at USD 10,806.51 million in 2018. The advantages of physical retail are blended with the convenience of online shopping in an omnichannel strategy. The ability for clients to physically contact the items, get assistance from competent employees, and make educated purchasing decisions makes these offline distribution channel segments significant in the growth of the global children's bicycle market during the forecast period.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The continuously rising children population in APAC held a significant market for children's bicycles compared with other regions. The major contributors to the children's bicycle market in APAC are China, India, and Australia. Manufacturers are offering a wide range of safety features, such as knuckle guards and night vision handlebars, which offer improved visibility in dim light.
For instance, Hercules launched its Blackhunter ZX range of bicycles that come with a knuckle guard. The company also introduced its new range of handlebars that offer an inbuilt flashlight with several other features. Furthermore, various vendors in this region are innovating and developing powerful braking systems for safer rides. Therefore, the addition of safety features and the rapid improvements in bicycle geometry and functioning are expected to drive the demand for children's bicycles in APAC during the forecast period.
The children's bicycle market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Children's Bicycle Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.36% |
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Market Growth 2024-2028 |
USD 4,883.58 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.22 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, China, Japan, Germany, and The Netherlands |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accell Group NV, ByK Bikes USA, Colnago Ernesto and C. S.r.l, Dorel Industries Inc., Fuji Bikes, Giant Manufacturing Co. Ltd., GT Bicycles, Guardian Bikes, Haro Bikes, Hero Motors Co., Islabikes, Kona Bicycle Co., Malvern Star, Merida Industry Co. Ltd., Prevelo Bikes, Santa Cruz Bicycles LLC, SCOTT Sports SA, Specialized Bicycle Components Inc., Trek Bicycle Corp., and Woom |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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