Kids Bicycle Market Projected to Reach US$ 29.64 Billion by 2033, Growing at a CAGR of 4.7%

Author : Lokesh C Chaudhari | Published On : 24 Apr 2024

By 2023, the kids bicycle market is projected to be valued at US$ 18.7 billion, and by 2033, it is anticipated to grow at a compound annual growth rate (CAGR) of 4.7% to reach US$ 29.64 billion. By the end of 2023, sales of children's bicycles are predicted to make up over 37% of the worldwide bicycle market. A positive shift in the demand for bicycles has been attributed to a mix of bicycle customization and infrastructure improvements in some nations. Furthermore, bike manufacturers can grow their business by participating in different cycling competitions. Download a Free Sample Copy of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=206 Bicycles for kids have never been an easy market to navigate. When a child receives their first bicycle, parents everywhere strive to provide them with an excellent introduction to the world of cycling. The many health benefits of cycling are another factor that promotes adoption. A plethora of child-cycle manufacturers, including as Pinnacle, Frog, and Islabikes, have made their way into the market with improved features and designs. The demand for children's bicycles is rising as a result of the growing interest of children in this. Compared to other age groups, children are more likely to be seen riding bicycles. Main Points of the Market Analysis: By 2032, the kids bicycle market is expected to have grown by 1.4 times to reach US$ 25.0 billion. Between 2017 and 2021, the market saw a 3.3% CAGR. In 2021, the kids bicycles with sizes ranging from 20 to 24 inches held a dominant market share of US$ 5,191.9 million. In 2022, East Asia held a 44.1% market share, leading the industry. In 2022, the combined market shares of Europe, South Asia, and Oceania are projected to be 38.3%. Youngsters need to be allowed the chance to discover an intrinsic passion for riding and encouraged to pursue it. For the same reasons, the government and the bicycle industry have accepted responsibility for fostering and advanc