Balance Bike Market Will Show Significant Growth in Near Future

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06 Oct 2024

Table of Content

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.

Market Overview:

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:

Report Highlights:

• By product, the metal bike segment is expected to capture the largest market share over the forecast period. The proliferation of lightweight (10–14 lbs.) metal cycles around the world is credited with the expansion of the metal balance bike market. Due to the nature of the material, wooden balance bikes lack mounting points for extra accessories while metal balance bikes give a variety of seat configuration options. Due to this aspect, metal balance bikes are now more popular on the international market. On the other hand, the wooden bike segment is growing at the highest CAGR. Better impact absorption is provided by wooden bicycles. Baltic birch hardwood with multiple layers is used to make them. Compared to balance bikes made of metal, wooden balance cycles are lighter. The fact that wooden balance bikes are environmentally friendly is another factor driving the development of the wooden bike market. The age of the children and the accessibility of the storage facility are taken into account when selecting a balance cycle.
• By application, the home use segment is expected to dominate the market during the forecast period. Younger children are frequently given their first cycling training on balance bikes. Balance bikes are typically used at homes for exercise. As a result, the domestic use segment rules the market for balance bikes globally. Toddlers 18 months to 2 years old are introduced to balance bikes; children in this age range are capable of learning balance bikes at home with parental supervision for appropriate safety. Thus, this is expected to drive the segmental growth.

Regional Insights:

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.

Market Dynamics:

Drivers:

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.

Restraint:

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.

Opportunities:

Growing middle class and increasing disposable income

• The growing middle class and rising personal disposable income are expected to have a positive impact on the balance bike market in the upcoming years. In recent years, there has been a significant change in people's lifestyles in both developed economies like the US and Germany and emerging economies like China and India. Higher disposable incomes have improved people's purchasing power and standard of living, especially in developing countries like China and India. 
• The demand for children's balance bikes at organized multi-brand retail outlets is increasing as a result of the rapid urbanization and rising disposable income in these countries, which is also assisting market vendors in raising their profits. Throughout the projection period, balance bike purchases for kids are anticipated to increase due to the growth in the middle-class population. The rising middle-class population and rising personal disposable income will therefore have a favorable effect on the development of the market under consideration.

Recent Developments: 

• In February 2021, Husqvarna Motorcycles has partnered with electric balance bike maker STACYCTM to offer two race team inspired models, the Husqvarna Motorcycles Replica 12eDrive and 16eDrive, enabling kids to start riding with confidence. Each model, which is only available from authorised Husqvarna Motorcycles dealers, guarantees entry-level fun while fostering the growth of crucial riding abilities.
• In March 2021, StaCyc, a manufacturer of electric balance bikes especially made for kids, has been acquired by Harley-Davidson. The purchase of StaCyc broadens the motorcycle company's electric motorcycle lineup. LiveWire, a high-end, high-performance electric motorcycle, will be introduced in the autumn of this year, and 2021 will bring about future light-weight and middleweight electric motorcycles, the company had previously stated. The smallest users will have a starting point with the StaCyc electric two-wheelers.
• In January 2023, the 750W foldable electric balance bike from Heybike Tyson was introduced. At CSE 2023, a bike with an entirely contemporary design and structure was revealed.
• In June 2022, the extension of GasGas' collaboration with STACYC for the following year was revealed. With the help of this new extended partnership, GasGas's Replica electric balance bike will get a fresh new look in two new model choices, the 12eDrive and 16eDrive, respectively.

Major Key Players:

• BayBee Prime Toys India Pvt Ltd.
• Glide Bikes Inc
• The First Bike Co Inc
• Strider Sports International Inc
• Radio Flyer Inc
• Yvolve Sports Ltd

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