Children’s bicycle: Key market research findings
- Initiatives by local governments to encourage bicycling
- Availability of technologically advanced products
- Leading players are Giant Bicycle, Raleigh Bicycles, SCHWINN, Specialized, and Trek Bicycle
Technavio’s market research analysts predict the children’s bicycle market in the US to grow at a CAGR of around 2% between 2016 and 2020. Several organizations in the US are encouraging bicycling to combat the rising obesity rates among children. These government authorities are taking up initiatives to educate the youth as well as parents about safe riding skills and are also supporting local communities to make the streets, trails, and sidewalks safe for bicycle riders, especially for children. To counter health-related issues, parents are encouraging children to take up physical activities more, like cycling. Additionally, there are various events and initiatives organized to involve children in physical activities and promoting healthy lifestyle practices.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, several vendors are coming up with innovative and technologically advanced products to expand their customer base and generate more revenue. Popular vendors like BSA and ZUM Balance Bike have introduced lightweight wooden bicycles for children which help in easy riding by proving better coordination and balance. Also, these bikes have small grips, which are suitable for children. Several manufacturers are also launched folding bicycles which can easily be packed and transported,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
During 2015, the specialty retail stores dominated the market and accounted for more than 51% of the overall market revenue. Consumers prefer buying bicycles from specialty stores as they carry an extensive portfolio of products and provide the required support and information via expert customer service personnel which will bolster the growth prospects of this market segment until the end of 2020. The 16-inches bicycle segment generates maximum revenues owing to the heavy duty steel frames of these bikes and knobby tires for extra grip and traction.
The children’s bicycle market in the US is fragmented and competitive owing to the presence of multiple vendors competing on the basis of price, product portfolio, and consumer reach. Many vendors offer extended services such as home delivery of bicycles and customized accessories fitting.
A more detailed analysis is available in the Technavio report, Children Bicycle Market in the US 2016-2020
We can customize reports by other regions and specific segments upon request.
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