About the Children’s Bicycle Market
We expect the global children's bicycle market to grow at a CAGR of 2.31% during the forecast period. In 2015, APAC led the overall market for children's bicycles and was followed by Europe. The ROW, which is constituted of Latin America, the Middle East, and Africa, will see the fastest growth rate over the next five years. North America will register a slowdown in its growth rate owing to the increasing number of children preferring indoor play activities like video games. In addition, in key North American countries, children in the age group of 0-14 years accounted for a relatively small part of the total population. In the US, for instance, this segment represented only 19% of the total population in 2015, and in Canada, this was 15%. This presents a relatively small addressable market for bicycle vendors in the region.
Technavio’s analysts forecast the global children’s bicycle market to grow at a CAGR of 2.31% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global children’s bicycle market for 2016-2020. To calculate the market size, the report considers revenue generated from the retail sales of different types of bicycles for children in the age group 5-14 years.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Children’s Bicycle Market 2016-2020
Technavio recognizes the following companies as the key players in the global children’s bicycle market: Accell Group, ByK Bikes, Dorel Industries, and TI Cycles.
Other Prominent Vendors in the market are: Electra, Firefox, Giant, Haro Bike, Hero Cycles, Huffy, Islabikes, Malvern Star, Ridgeback, and Sun Bicycles.
Commenting on the report, an analyst from Technavio’s team said: “One trend that is boosting market growth is product innovation. Many vendors are launching innovative and technologically advanced products to enhance the sales of their bicycles. Lightweight wooden bicycles help children balance and learn to ride a bicycle at an early age. These bicycles allow for better coordination and balance, and have been proven to decrease the time required to teach riding to children; the bikes also have small grips that are suitable for small hands.”
According to the report, a key growth driver is the rise in instances of childhood obesity. The growing prevalence of childhood obesity in both developing and developed countries has highlighted obesity as a public health problem globally. Childhood obesity can increase the chances of health problems such as asthma, type 2 diabetes, and cardiovascular conditions. Globally, 43 million children under the age of five years were obese; by the end of 2020, this number will reach 60 million. In an attempt to tackle obesity, parents are now trying to increase the participation of their children in physical activities such as cycling. In addition, there are multiple events and initiatives aimed at engaging children in physical activities such as bicycling and promoting healthy lifestyle practices among them.
Further, the report states that one challenge that could restrict market growth is the risk associated with cycling. Cycling accidents can result in limb injury, chest and abdomen injury, and head injury, and may also be fatal. Consequent parental concern about cycling related injuries is one of the leading hindrances to the growth of the market.
Accell Group, ByK Bikes, Dorel Industries, TI Cycles, Electra, Firefox, Giant, Haro Bike, Hero Cycles, Huffy, Islabikes, Malvern Star, Ridgeback, Sun Bicycles.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook