About Children’s Bicycle market in the US
With the rising cases of obesity and other health-related issues stemming from sedentary lifestyles in the US, a number of government initiatives are being undertaken to encourage children to take up physical activities like cycling. This factor, in turn, will likely contribute to market growth considerably during the forecast period. Increase in the number of innovative product launches will also aid in market growth.
Technavio’s analysts forecast the children’s bicycle market in the US to grow at a CAGR of 1.92% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the children’s bicycle market in the US for 2016-2020. To calculate the market size, the report considers revenue generated from the retail sales of children's bicycles. In this report, we have only considered bicycles for children aged 5-14 years.
The market is divided into the following segments based on wheel size:
Technavio Announces the Publication of its Research Report – Children’s Bicycle market in the US 2016-2020
Technavio recognizes the following companies as the key players in the children’s bicycle market in the US: Giant Bicycle, Raleigh Bicycles, SCHWINN, Specialized, and Trek Bicycle.
Other Prominent Vendors in the market are: Electra Bicycle, GT Bicycles, Haro Bike, Huffy, Jamis Bicycles, Jenson USA, K2 Sports, Kestrel Bicycles, Mondraker Bicycles, Pacific Cycles, Polygon Bikes, Redline Bicycles, SCOTT Sports, Seven Cycles, and Sun Bicycles.
Commenting on the report, an analyst from Technavio’s team said: “A trend helping market growth is the availability of technologically advanced products. Technological innovations in children's bicycles will considerably aid the growth of the market over the next five years. To expand their customer base and generate more revenue, many vendors are now launching innovative and technologically advanced products, which will impact the market growth positively during the forecast period. Lightweight wooden bicycles for children, which are mostly used to learn riding, are examples of such innovative products. These bicycles are proven to decrease the time required to teach riding as they aid in better coordination and balance; these bikes also have small grips, which are suitable for children. BSA and ZUM Balance Bike are examples of popular vendors that manufacture lightweight wooden training bicycles for children.”
According to the report, a key growth driver is the growing popularity of bicycling to combat childhood obesity. Obesity has become a large-scale health issue in the US. In fact, obesity, as a health problem, has become so common, that the World Health Organization (WHO) formally declared it as a global epidemic. The US has the highest number of overweight and obese population in the world, and among the overall population, 28.8% of boys and 29.7% of girls were obese in the US in 2014. In an attempt to combat this issue of obesity among children, parents are now encouraging children to take up more physical activities, like cycling.
Further, the report states that one challenge that could restrict market growth is the risk associated with cycling. In car-dependent countries such as the US, parents are reluctant to allow their children to use bicycles because of the risk of collisions with other vehicles. Other risk factors deterring the growth of the children's bicycle market include lack of adequate cycle paths, lack of safe crossings, and traffic hazards.
Giant Bicycle, Raleigh Bicycles, SCHWINN, Specialized, Trek Bicycle, Electra Bicycle, GT Bicycles, Haro Bike, Huffy, Jamis Bicycles, Jenson USA, K2 Sports, Kestrel Bicycles, Mondraker Bicycles, Pacific Cycles, Polygon Bikes, Redline Bicycles, SCOTT Sports, Seven Cycles, Sun Bicycles.
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