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The children's bicycle market size is estimated to grow by USD 4.88 billion, at a CAGR of 5.36% between 2023 and 2028. Market growth hinges on various factors, including expanding the range of children's bicycles, effective supply chain management, and mergers and acquisitions (M&A) activity. Additionally, the donation of bicycles to children and the promotion of bicycling to address the obesity issue contribute to market growth. These elements collectively drive the expansion of the market, reflecting a combination of product innovation, operational efficiency, and social initiatives. The extension of children's bicycle offerings underscores the importance of catering to diverse consumer preferences and needs. Simultaneously, efficient supply chain management ensures timely delivery and cost-effective operations. Furthermore, M&A activities enable companies to strengthen their market position and expand their product portfolios. Additionally, initiatives promoting bicycling among children contribute to societal well-being by encouraging physical activity and combating obesity. Thus, the interplay of these factors shapes the landscape for the anticipated growth of the market catering to children's bicycles and related products.
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The market is evolving in response to concerns over sedentary lifestyles and a push towards healthy lifestyles. Encouraging outdoor play and improving fitness levels and gross motor skills, parental attitudes favor bikes equipped with innovative technologies like e-bicycles. These provide a competitive edge and promote physical activities in children. Drawing inspiration from sports figures and comic book characters, bicycle designs incorporate elements reminiscent of superheroes, complete with musical horns and illuminated wheels for added fun. With applications ranging from casual rides to bicycle racing and marathons, the market offers a range of options including bikes with adjustable seat height and baskets, catering to diverse needs and preferences. 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 and promote health and wellness. 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. 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 market during the forecast period.
Safety concerns in the 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 market. Thus, the safety concerns will hinder the growth of the 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.
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 specialty 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 and was valued at USD 10.81 billion 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 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 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 companies 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 market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
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In the market, maintaining safety is paramount to mitigate safety incidents and product recalls, safeguarding brand reputation and consumer trust. Compliance with safety regulations is crucial amidst seasonal fluctuations and cyclical demand patterns, especially during warmer months and holiday seasons. Balancing inventory levels and production schedules, brands invest in marketing efforts to highlight features like pedal-assist and throttle-controlled motors for enhanced technology integration. Offering digital features and connectivity options such as GPS tracking and fitness tracking sensors, bikes appeal to price-sensitive consumers seeking to improve physical health and coordination.
Furthermore, collaborations with industry leaders like Harley-Davidson and Serial 1 e-bike brand ensure quality and environmental consciousness, promoting sustainable living and addressing accidents and injuries through visibility enhancements and protective gear like knee pads and elbow pads. With a focus on healthy lifestyles, the market caters to diverse needs, offering lightweight bikes, including sports bicycles, with vibrant colors and contemporary designs for recreational activities and sports events. The inclusion of features like gear systems and quick disk brakes enhances entertainment and safety, attracting fan bases and brands from the entertainment industries. As the market evolves, partnerships with SRTS programs and rental bicycle businesses promote ecological benefits and obesity prevention, fostering eco-friendly lifestyles and ensuring a brighter, healthier future for children.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.36% |
Market Growth 2024-2028 |
USD 4.88 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.22 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 51% |
Key countries |
US, China, Japan, Germany, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, Market Forecasting, 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 market forecast period. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
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