The kids bicycle market is expected to grow from US$ 6.42 billion in 2022 to US$ 9.37 billion by 2030; it is expected to record a CAGR of 4.8% from 2022 to 2030.
Increasing emphasis on active lifestyles and strategic initiatives by key market players are among the factors contributing to the growing kids bicycle market size. In an ever-evolving industry, companies leverage various strategies to gain a competitive edge, expand their market share, and resonate with their target audience. One prominent strategic initiative is mergers and acquisitions. Companies within the kids bicycle market often merge to consolidate resources, enhance product portfolios, and capitalize on synergies. These strategic moves contribute not only to the growth of individual companies but also to the overall dynamism and competitiveness of the market.
Based on product type, the kids bicycle market is bifurcated into battery-operated and manual. The manual segment is anticipated to hold a significant kids market share by 2030. The manual segment of the market comprises traditional bicycles that rely on the physical effort of the rider to move them forward. These bicycles come in various sizes and designs, catering to different age groups and skill levels. Manual bicycles are fundamental for teaching children essential motor skills, balance, and coordination. Parents often opt for these classic bicycles as they offer a timeless and physically engaging way for kids to enjoy outdoor activities while contributing to their overall development.
By geography, the kids bicycle market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest market share during the forecast period. Asia Pacific is home to 60% of the world's population, nearly 4.3 billion people, and includes the world's most populous countries, China and India. With a rising emphasis on promoting healthy lifestyles for children and a growing middle-class population, the demand for kids bicycles has witnessed significant traction in recent years. In countries such as China and India, where urbanization and changing lifestyles are prominent, there is a heightened awareness among parents about the importance of outdoor activities for children. This awareness has translated into an increased demand for kids bicycles as a means to encourage physical activity and provide a mode of recreation.
Economic prosperity is also translating into increased spending power for families across the region. This, coupled with a growing middle-class population, fuels the demand for recreational activities such as cycling, paving the way for more kids bicycles in homes. In addition, as cities sprawl, families seek alternatives to crowded roads and polluted air. Cycling emerged as a healthy and cost-effective solution, promoting both physical fitness and outdoor exploration for children. Recognizing this trend, governments are investing in cycling infrastructure, further supporting the market growth. According to the Jakarta Transportation Agency, the Jakarta provincial government expanded the capital city of Indonesia's bicycle lane or bike lanes to a total length of 309.5 kilometers with the expansion of 195 kilometers of new lanes in 2022.
The leading players in the kids bicycle market are SCOTT Sports SA, Cycling Sports Group Inc, GT Bicycles LLC, Merida Industry Co Ltd, BikeCo LLC, Kona Bicycle Co, Paco Bike Co Ltd, Specialized Bicycle Components Inc, Trek Bicycle Corp, and Giant Manufacturing Co Ltd. These players are developing various products to address consumers' growing demand.
The size of the kids bicycle market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants - including valuation experts, research analysts, and key opinion leaders - specializing in the market.
Reasons to Buy
Increasing emphasis on active lifestyles and strategic initiatives by key market players are among the factors contributing to the growing kids bicycle market size. In an ever-evolving industry, companies leverage various strategies to gain a competitive edge, expand their market share, and resonate with their target audience. One prominent strategic initiative is mergers and acquisitions. Companies within the kids bicycle market often merge to consolidate resources, enhance product portfolios, and capitalize on synergies. These strategic moves contribute not only to the growth of individual companies but also to the overall dynamism and competitiveness of the market.
Based on product type, the kids bicycle market is bifurcated into battery-operated and manual. The manual segment is anticipated to hold a significant kids market share by 2030. The manual segment of the market comprises traditional bicycles that rely on the physical effort of the rider to move them forward. These bicycles come in various sizes and designs, catering to different age groups and skill levels. Manual bicycles are fundamental for teaching children essential motor skills, balance, and coordination. Parents often opt for these classic bicycles as they offer a timeless and physically engaging way for kids to enjoy outdoor activities while contributing to their overall development.
By geography, the kids bicycle market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2022, Asia Pacific held the largest market share during the forecast period. Asia Pacific is home to 60% of the world's population, nearly 4.3 billion people, and includes the world's most populous countries, China and India. With a rising emphasis on promoting healthy lifestyles for children and a growing middle-class population, the demand for kids bicycles has witnessed significant traction in recent years. In countries such as China and India, where urbanization and changing lifestyles are prominent, there is a heightened awareness among parents about the importance of outdoor activities for children. This awareness has translated into an increased demand for kids bicycles as a means to encourage physical activity and provide a mode of recreation.
Economic prosperity is also translating into increased spending power for families across the region. This, coupled with a growing middle-class population, fuels the demand for recreational activities such as cycling, paving the way for more kids bicycles in homes. In addition, as cities sprawl, families seek alternatives to crowded roads and polluted air. Cycling emerged as a healthy and cost-effective solution, promoting both physical fitness and outdoor exploration for children. Recognizing this trend, governments are investing in cycling infrastructure, further supporting the market growth. According to the Jakarta Transportation Agency, the Jakarta provincial government expanded the capital city of Indonesia's bicycle lane or bike lanes to a total length of 309.5 kilometers with the expansion of 195 kilometers of new lanes in 2022.
The leading players in the kids bicycle market are SCOTT Sports SA, Cycling Sports Group Inc, GT Bicycles LLC, Merida Industry Co Ltd, BikeCo LLC, Kona Bicycle Co, Paco Bike Co Ltd, Specialized Bicycle Components Inc, Trek Bicycle Corp, and Giant Manufacturing Co Ltd. These players are developing various products to address consumers' growing demand.
The size of the kids bicycle market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants - including valuation experts, research analysts, and key opinion leaders - specializing in the market.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global kids bicycle market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Kids Bicycle Market Landscape
5. Kids Bicycle Market - Key Market Dynamics
6. Kids Bicycle Market - Global Market Analysis
7. Kids Bicycle Market Analysis - by Product Type
8. Kids Bicycle Market Analysis - by Distribution Channel
9. Kids Bicycle Market - Geographical Analysis
10. Kids Bicycle Market - Impact of COVID-19 Pandemic
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned
- SCOTT Sports SA
- Cycling Sports Group Inc
- GT Bicycles LLC
- Merida Industry Co Ltd
- BikeCo LLC
- Kona Bicycle Co
- Paco Bike Co Ltd
- Specialized Bicycle Components Inc
- Trek Bicycle Corp
- Giant Manufacturing Co Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 148 |
| Published | February 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 6.42 Billion |
| Forecasted Market Value by 2030 | 9.37 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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