The Global Junior Bikes Market was valued at USD 16,800.44 Million in 2019 and is projected to reach USD 22,853.95 Million by 2027, expanding at a CAGR of 4.2% during the forecast period. A bicycle or a bike is a two-wheeler vehicle, which works without petrol or any other oil. Bicycles are driven by the pedals that are mounted at the bottom of the wheel and are steered by the means of a handlebar connected to the top of the front wheel. Kid’s bicycles are smaller in size and often feature two narrow support wheels at the bottom of the rear wheel.
The expansion of the market is due to increasing awareness on cycling, as a sport and health practice by parents and teachers. Cycling has taken a role with a shifting lifestyle, where it is more of a fun hobby that kids chose to do with friends during their spare time. The practice is further sponsored by schools, clubs, and residential communities that have taken steps to incorporate children's cycling in their everyday lives. Moreover, the bicycle provides students a comfortable personal mode of travel.
Children are increasingly interested in junior bikes due to their vivid colors, prints, and styles. Moreover, several of these bicycles are modeled after popular superheroes, sportsmen, cartoon characters, and children's celebrities. Furthermore, children prefer products with musical horns, lit wheels, and baskets either in the front of the handlebar or behind the bench.
Segmental Outlook
Based on types, the junior bikes market has been categorized as mountain bikes, road bikes, and others. The mountain bikes segment holds significant market share, while the road bikes segment is expected to grow at a substantial pace during the forecast period.
In terms of end-users, the junior bikes market has been segmented into boys, girls, and others. The boys segment represents considerable market share in 2019, while the girls segment is projected to expand at a significant CAGR during the forecast period.
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Regional Outlook
Based on regions, the global junior bikes market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in Europe is anticipated to expand at a significant market share, followed by North America, due to increasing awareness among people and kids regarding bicycling. The increasing number of cycling in countries, including Belgium, Switzerland, Finland, Norway, Sweden, Germany, Denmark, and the Netherlands, is expected to drive the regional market. Additionally, roadways have been designed such that cyclists ride on a different path, which is separated from motor riders. This ensures the safety and negligible traffic for riders. Kids prefer riding bicycles for short-distance commutes.
Competitive Landscape
Key players in the market include Giant Bicycles, Goodbaby International Holdings Limited, Huffy Corporation, Kawasaki, and Trek Bicycle Corporation. They are considered as key manufacturers in the market based on their different varieties of product availability, regional presence, better supply chain management system, and increasing demand for the products.Players are adopting key strategies such as product development, geographical expansion, and many other strategies to increase their demand for junior bikes.Schools and residential neighborhoods are now seeking to evoke children's interest in cycling for environmental, health, and safety reasons. Moreover, children's bicycles have emerged as a significant benefit for the children’s health, which in turn, increases the demand for the junior bikes during the forecast period. In July 2019, woom, a junior bike manufacturer, donated 30 bicycles and helmets to children in Hammond, Louisiana, US.
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