Overview and Scope
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.
Sizing and Forecast
The balance bike market size has grown strongly in recent years. It will grow 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, incresing need for safety and confidence, rising awareness of environmental concerns.
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Segmentation & Regional Insights
The balance bike market covered in this report is segmented –
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
North America was the largest region in the balance bike market in 2023. The regions covered in the balance bike market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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. For instance, according to the 2023 outdoor participation trends report by the Outdoor Industry Association, a US-based non-profit organization, in 2022, the outdoor recreation participant base in the United States grew by 2.3% to a record 168.1 million participants, which represents 55% of the U.S. population aged six and older. Further, the growth can be compared to the 2.2% increase in outdoor recreation participation in 2021, when the number of participants reached 164.2 million. Therefore, the increased awareness of health and outdoor activities is driving the growth of the balance bike market.
Key Industry Players
Major companies operating in the balance bike market report are 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.
The balance bike market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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