Kids Bicycle Market Expected to Reach $12.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Kids Bicycle Market," The kids bicycle market size was valued at $7.3 billion in 2022, and is estimated to reach $12.1 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.

A kids' bicycle is a pedal-powered vehicle designed specifically for children. It serves as a fundamental tool for developing motor skills, coordination, and a sense of independence. Featuring lightweight frames, smaller wheels, and age-appropriate components, these bicycles come in various styles catering to different skill levels, contributing to young riders' physical activity and enjoyment.

The global kids bicycle industry has been witnessing robust growth recently, underpinned by several noteworthy industry trends and driving forces for expansion. This sector's momentum stems from the increasing recognition of the significance of an active lifestyle in children's development, which has led to heightened Kids Bicycle Market Demand.

A striking trend in the kids bicycle market is the growing acknowledgment of the essential role outdoor activities play in children's physical and mental well-being. Parents and guardians are increasingly valuing outdoor engagement, fostering a surge in demand for children's bicycles as a vehicle for promoting exercise and overall health. Manufacturers are responding to this trend by introducing innovative and safety-centric bicycle designs that appeal to both parents and youngsters, featuring resilient materials, adaptable components, and captivating aesthetics.

Multiple factors are propelling the expansion of the kids bicycle market. Firstly, the rising disposable income in numerous regions allows parents to invest in high-quality bicycles for their children. Secondly, the COVID-19 pandemic has expedited the adoption of outdoor activities as a safer recreational choice for kids, further stimulating bicycle sales. Additionally, government campaigns promoting physical activity among children are augmenting market growth. The confluence of these growth catalysts, along with a steadfast commitment to safety and ingenuity, is anticipated to sustain the upward trajectory of the kids bicycle market.

Further fueling market growth are elements such as urbanization, which generates more opportunities for recreational biking in parks and dedicated cycling lanes. Furthermore, the surge in e-commerce platforms has made it more convenient for consumers to access a diverse array of children's bicycle options, enhancing market accessibility. Additionally, eco-conscious parents are increasingly opting for bicycles as an eco-friendly mode of transportation for their children, bolstering the market's expansion.

Despite the favorable outlook, the kids bicycle market does confront challenges, including the competition from substitutes like video games and the continuous need for innovation to sustain children's interest. Nevertheless, these challenges concurrently present business prospects for diversification and the integration of technology. Incorporating smart features and interactive applications into bicycles to enhance the overall biking experience offers a viable path forward. Furthermore, expansion into emerging markets with burgeoning middle-class populations offers substantial business opportunities for industry participants.

In summary, the global kids bicycle market is flourishing owing to the heightened emphasis on children's physical well-being, coupled with various Kids Bicycle Market Trends and Kids Bicycle Market Growth drivers. While challenges persist, enterprises operating in this sphere possess the opportunity to leverage innovation and explore new markets, ensuring a prosperous future for the children's bicycle industry.

The kids bicycle market analysis is segmented on the basis of type, age group, distribution channel, and region. By type, the market is classified into battery-operated and conventional. As per age group, the market is classified into 3 to 4 years, 4 to 6 years, 6 to 8 years, and 8 to 15 years. Depending on distribution channel, the market is classified into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Egypt, and Rest of LAMEA).

By type, the market is classified into battery-operated and conventional. The conventional segment accounted for a major Kids Bicycle Market Share in 2022 and is expected to grow at a significant CAGR during the forecast period. In the kids' bicycle market, conventional products refer to traditional bike designs aimed at younger riders. These bicycles typically feature standard frames, basic components, and simple aesthetics. Amid the rapid influx of advanced technologies in various products, the conventional design brings a nostalgic charm, encouraging parents to introduce their children to the same kind of bike they grew up with. Additionally, these bicycles often offer a more affordable option compared to their tech-laden counterparts, making them accessible to a wider range of consumers in diverse economic backgrounds.

By age group, the market is classified into 3 to 4 years, 4 to 6 years, 6 to 8 years, and 8 to 15 years.  The 8 to 15 years segment accounted for a major share of the market in 2022 and is expected to grow at a significant CAGR during the forecast period. Covering a broad age range, 8 to 15 years age group spans pre-adolescence to early teenage years. Hybrid designs that bridge the gap between children's and adult bikes cater to tweens and young teenagers. Integration of connectivity features for navigation and fitness tracking resonates with tech-savvy adolescents.

By distribution channel, the market is classified into online and offline. The offline segment accounted for a major share of the market in 2022 and is expected to grow at a significant CAGR during the forecast period. Specialty stores offer expert guidance on choosing the right size and type of bicycle for each child. Collaborations with local communities and schools enhance brand visibility. In-store events, workshops, and maintenance services cultivate customer loyalty.

Based on region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, Australia, Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Egypt, and Rest of LAMEA). The electric kids' bike segment is expanding due to increased environmental awareness and technological advancements. Collaborations with local cultural icons and educational elements on bikes are becoming prevalent, tapping into the region's rich heritage.

The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the kids bicycle market include Guardian Bikes, Trek Bicycle Corporation, Frog Bikes Limited, Fuji Bikes, Huffy Corporation, SCOTT Sports Sam, Strider Sports International, Inc., Islabikes, Haro Bikes, and Alta Cycling Group.

KEY FINDINGS OF THE STUDY   

• By product, the conventional segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.
• By age group, the 8 to 15 years segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.
• By distribution channel, the offline segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.
• By region, Asia-Pacific was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.