Global Balance Bike market size, share and growth analysis for 2024-2033
Balance Bike Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s balance bike Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 4, 2024 /EINPresswire.com/ -- The balance bike market has experienced robust growth in recent years, expanding from $1.16 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increasing awareness of the benefits of balance bikes for young children and evolving consumer preferences, growing emphasis on physical fitness and outdoor activities for children, government initiatives promoting physical activity and healthy lifestyles, increasing need for safety and confidence, rising awareness of environmental concerns.
Strong Future Growth Anticipated
The balance bike market is projected to continue its strong growth, reaching $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing rapid adoption of advanced bicycles for kids, rise of eco-consciousness and sustainable living, increased awareness of health and outdoor activities, rising number of online shopping for kids, increasing use of lightweight vehicle.
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Growth driver of the balance bike market
The increased awareness of health and outdoor activities is expected to propel the growth of the balance bike market going forward. Awareness of health and outdoor activities refers to the understanding and consciousness among individuals about the importance of physical well-being, fitness, and engaging in outdoor pursuits for recreational or health purposes. Increased awareness of the benefits of outdoor activities and physical exercise can encourage parents to introduce their children to activities like biking at an early age, which is where balance bikes come in.
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Major Players and Market Trends
Key players in the balance bike market include Trek Bicycle Corporation, Dorel Industries Inc., SellerX Ten GmbH, The Woom Bike USA, Industrial Research Corp., RGA Banana Ltd., Yvolve Sports Ltd., Prince Lion heart Inc., Strider Sports International Inc., Radio Flyer Inc., Artsana S.p.A, Ridgeback Bikes, The Chillafish Company, Joovy Holding Co., Bixe Balance Bikes, Early Rider Ltd., Glide Bikes Inc., Islabikes Ltd., KaZAM LLC, KOKUA Bikes USA LLC, Recreational Equipment Inc., Specialized Bicycle Components Inc., Sunup Healthcare Sdn. Bhd., The First BIKE Company Inc..
Major companies operating in the balance bike market are developing innovative products such as folding electric balance bike to better serve the customer. Folding electric balance bike refers to an electric bicycle that is foldable, and is designed for balance and stability.
Segments:
1) By Material: Wooden Balance Bikes, Metal Balance Bikes, Composite Balance Bikes
2) By Wheel Size: Below 12 Inches, 12-14 Inches, Above 14 Inches
3) By Age Group: 2-4 Years, 4-6 Years, 6 Years And Above
4) By Distribution Channel: Retail Stores, Online Retail
5) By Application: Commercial, Home Use
Geographical Insights: North America Leading the Market
North America was the largest region in the balance bike market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of balance bike.
Balance Bike Market Definition
A balance bike, or run bike, is a children's bicycle without pedals designed to help children learn to balance and coordinate their movements before transitioning to a traditional pedal bike. They are primarily used for teaching young children how to ride a bicycle, specifically by helping them develop balance and coordination.
The main materials of balance bike are wooden balance bikes, metal balance bikes, and composite balance bikes. Wooden balance bikes are a type of bicycle designed to help children learn to balance and steer without the need for stabilizers. Various sizes of wheels such as below 12 inches, 12-14 inches, and above 14 inches available for 2-4 years, 4-6 years, 6 years and above distributed by retail stores and online retail for commercial and home use applications.
Balance Bike Global Market Report2 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Balance Bike Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on balance bike market size3, balance bike market drivers and trends, balance bike market major players, competitors' revenues, market positioning, and market growth across geographies. The balance bike market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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