Children bicycle: Key market research findings
- Prevalence of childhood obesity drives market growth
- The 18-inch bike segment is the dominant shareholder in the market
- Key vendors—Accell, ByK Bikes, Dorel, and TI Cycles
According to Technavio’s market research analysts, the global children’s bicycle market is likely to grow at a CAGR of over 2% between 2016 and 2020. The rise in instances of childhood obesity is the primary driver for growth in this market. Parents are trying to increase the participation of their children in physical activities such as cycling due to the increasing prevalence of childhood obesity, in both developed and developing countries. Furthermore, various events and initiatives aimed at engaging children in physical activities such as bicycling and promoting healthy lifestyle practices among them are also being organized. The APAC region held a stake of around 38% to dominate the global children’s bicycle market in 2015 with Australia, China, and India being the major revenue contributors. A high percentage of children in the age group of 5-14 years, growing popularity of children’s bikes as a mode of commuting to school and the launch of initiatives aimed at promoting the ownership of bicycles among children are some of the factors that will fuel growth in the market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of children’s bicycle segments based on wheel diameter.
“Product innovation is the latest trend in the market. Several vendors are launching innovative and technologically advanced products such as wooden bicycles, Grow Bikes, and foldable bicycles to improve sales and gain better market shares. Lightweight wooden bikes allow for better coordination and balance while cycling and decreases the time required to teach riding to children. These bikes also feature small grips that are ideal for small hands. Similarly, Grow Bikes feature removable parts that can be adjusted as the children grow. Additionally, the adjustable frame, seat, and handlebar eliminates the need to replace the bicycle with a new one when the children grow,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, 18-inch wheel diameter segment dominated the global children’s bicycle market by accounting for more than 36% of the overall market share. 18-inch bikes are ideal for children within the age group of 6-8 years and are equipped with features such as hand brakes and easily adjustable seats. Avigo and Mongoose are some of the popular manufacturers of 18-inch bicycles in the global children’s bicycle market.
The key vendors in the market include Accell, ByK Bikes, Dorel, and TI Cycles. The market is marked by the presence of multiple vendors who compete by price, product portfolio, and consumer reach. The growth of suppliers 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.
A more detailed analysis is available in the Technavio report, Global Children’s Bicycle Market 2016-2020.
