Published Date : 13 Apr 2023
The balance bike market growth is driven by the increasing demand for balance bike for new learners, the growing demand for lightweight bikes for young kids and increasing innovative product launch.
The balance bike market report provides a detailed analysis of global Industry size share, regional and country-level, industry size, market segments, industry growth, sales analysis, impact of market players.
A running bicycle without pedals, gears, or chains is called a balance bike. For young toddlers in particular, it makes the transition from walking to riding simple. Children perch on the low-slung bike with their feet on the ground and move forward on their own without assistance from anyone else. This gives kids a chance to practice balancing and steering the bike before having to learn how to pedal like on a normal bicycle.
Running cycles, pre-bikes, and push bikes are some common names for balance bikes. Today's market offers a wide range of styles and preferences, including metal bikes, wooden bikes, bikes with hand brakes, and bikes with footrests. They are small, typically weighing under 10 pounds, and low to the ground, making them suitable for toddlers as young as 2 years old.
Children can learn to ride the balance bike at their own speed without feeling under pressure to learn to balance and pedal at the same time as on a normal bicycle because the design excludes pedals. From sitting and walking to sitting and running to eventually lifting their feet off the ground and gliding, children sit on the balance bike. Balance, steering, and coordination abilities can be rapidly mastered, and the self-assurance gained by beginning on a balance bike can help a child learn to ride a pedal bike without training wheels as young as 4 years old.
Balance Bike Market Report Scope:
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
North America is expected to dominate the market during the forecast period. The region's increasing demand for electric balance bikes for kids is driving up prices in North America. The growing advancements in e-bike technology are another element driving the growth of the balance bike market in the region. It is believed that a significant contributing factor to the market's investment growth is the fact that the majority of important key players in the global balance bike market are headquartered in the United States.
Europe is expected to grow at a significant rate during the forecast period. The market for balance bikes in Europe is expected to grow as a result of the automotive industry's fast expansion and the kids' advanced balance bikes' quick adoption. The existence of significant key players, purchases, alliances, and the introduction of new products are a few obvious factors that influence the revenue share of the balance bike market in Europe. Germany is thought to have made a significant contribution to the expansion of the European economy.
The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The market is expanding as more companies in the region's emerging nations strive to participate in the balance bike industry. The market for balance cycles is expanding as a result of the rising demand for kids' lightweight bikes in nations like China, Japan, and India.
Growing obesity cases in children
Every fifth child in the United States is at danger of obesity, and in the past 30 years, the rate of childhood obesity has doubled, according to the Centers for Disease Control and Prevention. Given that juvenile obesity has emerged as a significant global issue. Balance bikes have caught parents' notice due to this growing health concern. Toddlers can engage in a regular, enjoyable physical activity while riding a balance bike, which is regarded as a possible form of exercise. This element is fueling the global market for balance bikes to expand.
Threat from refurbished bicycles
Throughout the projection period, the threat posed by reconditioned bicycles will be a significant roadblock for the market for balance bikes. The majority of the increase in sales of refurbished bicycles can be attributed to consumers who are on a tight budget and refrain from purchasing new bicycles. Market participants are being drawn to adopt the refurbished bicycle business model by the growing demand for used bicycles. In the UK, ReCycle Bikes sells recycled bicycles. Skilled mechanics completely disassemble bicycles down to the frame, rebuild them, and then reassemble them. Refurbished bicycles are for sale in Italy due to Boeris Bikes SAS. To ensure rider safety, bicycles are expertly restored and fixed by qualified professionals. If more consumers choose used bicycles, there will be less of a market for brand-new bicycles. The revenue of the global balance bike market will be impacted as a result.
Growing middle class and increasing disposable income
Major Key Players:
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