PUBLISHER: Allied Market Research | PRODUCT CODE: 1239592
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239592
Ride on bikes are increasingly being used to encourage children to stay away from smart devices and gadgets and engage in fun physical activities. There is an increase in demand for ride on bikes for kids to improve gross motor skills by working on coordination, endurance, and strengthening. The manufacturers are increasingly launching new products owing to an increase in demand for bikes. For instance, in September 2022, Honda announced its plans to launch at least 10 all-electric motorcycles by the year 2025, which include an electric motorcycle designed for kids. Such developments are expected to boost the growth of the market.
Some motorized ride on bikes are operated by a lithium-ion battery. The rechargeable battery is installed in the bike to provide power. Manufacturers provide charger with the ride on bikes to charge the battery. Commonly, batteries feature two indicators: one that shows when it is charging and another that indicates when it is ready to use. Children's ride on bikes can last more than 5 years, the battery lasts about 2 years with constant use. Ride on bikes are also propelled by an engine and are gas-powered. These ride on bike are equipped with two- stroked or four-stoked engine. The ride on bikes operated by engine are commonly used by young racers for dirt bike riding.
Offline distribution channel is the traditional method of selling the ride on bikes to customers. Offline distribution channel is dominant across the globe owing to easy access and immediate product availability. The presence of the seller helps the consumer to choose the best product. The ability to directly compare different products before purchasing makes offline channel a preferred option. Children look forward to the experience of buying their favorite ride on bikes. The demand for touch and feel experience in offline channel is expected to drive the growth of the segment in the market.
There has been increase in popularity of electric balance bikes, which provide the ability to reach the ground comfortably allowing riders to learn without training wheels. Market players are developing lightweight electric balance bikes equipped with different modes to cater to the growing market demand. For instance, in June 2022, GASGAS, a motorcycle manufacturer developed a partnership with ebike specialist Stacyc to update its 12eDrive and 16eDrive balance bikes for the 2022 model year. The e-balance bikes are designed to give young kids a safe and enjoyable first-time experience on two wheels.
Moreover, new product launches are expected to increase the demand for electric balance bikes. For instance, in September 2019, Harley-Davidson launched the first duo of electric-powered balance bikes for kids designed for 3 to 7 year-old kids. The electric balance bikes arrived in two models, one for the young ones (IRONe12) and another for the older kids (IRONe16). Such factors are expected to provide significant opportunities for the growth of the market.
The ride on bikes market is segmented on the basis of age, propulsion, distribution channel, and region. By propulsion, it is divided into motorized and non-motorized. On the basis of age, it is segmented into 1 to 6 years, 6 to 12 years, and greater than 12 years. By distribution channel, the market is divided into online, and offline. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading companies profiled in the report include Razor USA LLC, TOBBI, Suzuki Motor Corporation, Honda Motor Co., Ltd., Kawasaki Heavy Industries, Ltd., KTM AG, Costzon, Huffy Corporation, Woom GmbH, and Yamaha Motor Co., Ltd.