Report : South & Central America Kids Bicycle Market Forecast to 2030 - Regional Analysis - by Product Type (Battery Operated and Manual) and Distribution Channel (Supermarkets and Hypermarket, Specialty Stores, Online Retail, and Others)
At 5.3% CAGR, South & Central America Kids Bicycle Market is Projected to be Worth US$ 732.12 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America kids bicycle market was valued at US$ 485.56 million in 2022 and is expected to reach US$ 732.12 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Rising demand for e-bicycles and proliferation of e-commerce industry are among the critical factors attributed to drive the South & Central America kids bicycle market growth.
The rising demand for e-bicycles has emerged as a notable trend in the kids bicycle market, reflecting broader shifts in consumer preferences toward innovative and sustainable transportation solutions for children. E-bicycles, equipped with electric assistance, are gaining popularity due to their ability to offer a unique and exciting riding experience for kids. These bicycles often feature adjustable power levels. One key driver behind the trend is the allure of technology. As digital natives, today's children are growing up in an era where technology plays a significant role in their daily lives. E-bicycles capitalize on this fascination by blending traditional outdoor activities with cutting-edge technology, making riding more engaging for the younger generation. The integration of electric features attracts kids and aligns with the broader trend of incorporating tech-driven elements into various aspects of children's play and recreation. Safety is another factor contributing to the rise in demand for e-bicycles in the kids bicycle market. Parents appreciate electric assistance-controlled acceleration and braking capabilities, enhancing the rider's overall safety. This is particularly appealing for parents who may have safety concerns associated with traditional bicycles, as e-bicycles offer additional supervision and control over their child's riding activities. The environmental consciousness of parents is also influencing the preference for e-bicycles. E-bicycles are perceived as more eco-friendly than traditional bikes, aligning with the growing emphasis on sustainable living. As parents seek ways to instill responsible environmental values in their children, opting for e-bicycles will likely continue its ascent in the kids bicycle market. Overall, the increasing demand for e-bicycles reflects a convergence of technological innovation, safety considerations, and environmental consciousness, shaping the evolving landscape of kids transportation and recreation.
On the contrary, safety concerns hamper the growth of South & Central America kids bicycle market.
Based on product type, the South & Central America kids bicycle market is bifurcated into battery operated and manual. The manual segment held 83.2% market share in 2022, amassing US$ 403.76 million. It is projected to garner US$ 594.33 million by 2030 to register 5.0% CAGR during 2022-2030.
In terms of distribution channel, the South & Central America kids bicycle market is categorized into supermarkets and hypermarket, specialty stores, online retail, and others. The specialty stores segment held 60.9% share of South & Central America kids bicycle market in 2022, amassing US$ 295.60 million. It is projected to garner US$ 435.15 million by 2030 to expand at 5.0% CAGR from 2022 to 2030.
By country, the South & Central America kids bicycle market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 53.6% share of South & Central America kids bicycle market in 2022. It was assessed at US$ 260.07 million in 2022 and is likely to hit US$ 394.46 million by 2030, registering a CAGR of 5.3% during 2022-2030.
Key players operating in the South & Central America kids bicycle market are SCOTT Sports SA, Cycling Sports Group Inc, GT Bicycles LLC, Merida Industry Co Ltd, BikeCo LLC, Specialized Bicycle Components Inc, Trek Bicycle Corp, and Giant Manufacturing Co Ltd, among others.
In May 2021, Specialized Bicycle Components Inc. introduced the Jett, an adjustable kid's bike designed to promote a lifetime of riding. The bike is proportionally and child-liftable, making it ideal for roads and neighborhoods.
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