Balance Bike Market

According to Stratistics MRC, the Global Balance Bike Market is growing at a CAGR of 8.7% during the forecast period. A balance bike is a type of learner bicycle that does not have pedals. Instead, the rider propels themselves forward by pushing their feet against the ground. Young children can learn about balancing and steering on balanced bikes. The drivetrain, chain, gears, and gear shifters are absent from these bikes. As young as 18 months old, toddlers can learn to balance on two wheels using pedal-less bicycles. Training wheels and tricycles are replaced by balance bikes. Children who used to balance bikes are more likely to quickly pick up pedal bikes. In addition to this, balance bikes teach kids how to glide. As a result, balance bikes make it simple to balance, which will cause the market for balance bikes to expand in the years to come.

According to the Centers for Disease Control & Prevention, the United States, every 1 in 5 children is at the risk of obesity and the rate of childhood obesity has doubled in the last 30 years. This rising health concern has brought parents’ attention towards balance bikes.

Market Dynamics:

Driver:

Health benefits and rising environmental concerns

These balance bikes are reasonably priced, which is the main factor fueling the market's expansion. Environmentally friendly, balance bikes don't emit any carbon. Global demand for balance bikes has risen as a result of growing environmental concerns. The expansion of the global market has also been fueled by both environmental and economic factors. Additionally, the market is expanding due to the health advantages associated with balance bike activity for children. Due to their self-regulation, balance bikes provide additional protection for young children, which had increased demand for them among beginners.

Restraint:

Lack of awareness and brake-less balance bikes

The lack of awareness about balance bikes in underdeveloped nations and the unpaved roads in remote countries are a few factors that are limiting the market's expansion. Many balance bikes lack brakes, which could present a challenge for children learning to cycle. In addition, balance bikes' wooden construction is prone to rot if not properly maintained, and such factors are likely to impede the market's expansion.

Opportunity:

Rising disposable income in developing countries

The growing middle-class demand for balance bikes is a result of rising disposable income. Additionally, as parents are more inclined to invest in them, the market for balance bikes has grown due to increased awareness of overall child development. The balance bike market has seen an increase in potential suppliers and market participants as a result of the developing economies of nations like India, China, Germany, Brazil, and several Gulf states. Furthermore, balance bikes are portable and come in a variety of appealing colors and sizes, which is also thought to be a contributing factor in the market's apparent expansion.

Threat:

Consumers opting for refurbished bikes

During the forecast period, the threat posed by refurbished bicycles will be a significant obstacle for the balance bike market. The rise in refurbished bicycle sales is primarily attributable to price-conscious consumers who prefer not to spend money on brand-new bicycles. Market participants are being enticed to adopt the refurbished bicycle business model by the rising popularity of used bicycles. Skilled mechanics completely disassemble bicycles down to the frame and rebuild them. As more consumers choose used bicycles, there will be less of a market for brand-new bicycles. As a result, the revenue of the global balance bike market will be impacted.

Covid-19 Impact

The balance bikes market has been negatively impacted by the COVID-19 pandemic. The growth was hampered by the decline in demand for children's balance bikes during the pivotal period of the pandemic. The market experienced a disrupted raw material supply chain as a result of the lockdown that was imposed. The production rate was slowed down by a lack of workers and the closing of manufacturing facilities. However, growing investments in the market for balance bikes around the world and rising kid-friendly electric bike demand are helping to offset the financial loss brought on by the COVID-19 pandemic.

The metal balance bike segment is expected to be the largest during the forecast period

The market is currently dominated by the metal balance bike segment, which is expected to continue to hold the largest share during the forecast period. Metal balance bikes are made of an aluminum or steel alloy that is lightweight. Metal balance bikes are more adaptable and robust than wooden bikes. The availability of their lightweight (10–14 lbs.) is credited with the growth of the metal balance bike segment. Due to the nature of the material, wooden balance bikes lack mounting points for additional accessories, while metal balance bikes offer a variety of seat configuration options. These elements had increased the metal balance bike market's sales on a global scale.

The home use segment is expected to have the highest CAGR during the forecast period

Younger children are frequently given their first cycling lessons on balance bikes. Balance bikes are typically used at home for training. As a result, it is anticipated that the home use segment will grow significantly during the forecast period. Toddlers 18 months to 2 years old are introduced to balance bikes. Children in this age range are capable of learning to balance bikes at home while their parents watch to ensure proper safety. Toddler balance bikes are available in indoor and outdoor models, making it convenient for kids to train on them.

Region with largest share:

The market for electric balance bikes for children in the region is expanding, which is boosting demand in North America. Another factor boosting the growth of the balance bike market in the region is the rise of innovations in e-bike technology and the majority of significant key players in the global balance bike market have their headquarters in the United States, which is thought to be a major thing in the market's investment growth.

Region with highest CAGR:

Europe is expected to register substantial growth in the forecast period. The market in Europe is expected to grow as a result of the automotive industry's rapid expansion and kids' advanced balance bikes' quick adoption. The presence of significant key players, purchases, alliances, and the introduction of new products are a few obvious factors that influence the revenue share of the balance bike market in this region. Furthermore, Germany is thought to have made a significant contribution to the expansion of the European market.



Key players in the market

Some of the key players profiled in the Balance Bike Market include Artsana S.p.A, Baybee Prime Toys India Pvt. Ltd, Bixe Balance Bikes, Cruzee Balance Bike, Cycling Sports Group LLC, Glide Bikes Inc., Joovy Holding Co., KaZAM LLC, Pingxiang FlyBaby Children Toys Co. Ltd, Prince Lionheart Inc., Radio Flyer Inc., Recreational Equipment Inc., RGA Banana Ltd, Strider Sports International, Inc., The Chillafish Co., The First BIKE Co. Inc., TheCroco, Yamaha, Super73, Woom and Yvolve Sports Ltd.

Key Developments:

In April 2023, SUPER73, the American lifestyle adventure brand specializing in electric motorbikes, announced the launch of its first youth series vehicle, the K1D. Developed with a perfectly complemented blend of fun and safety, the SUPER73 K1D offers a best-in-class electric balance bike option for kids ages four to eight years old.

In December 2022, Yamaha debuted self-balancing tech called Advanced Motorcycle Stability Assist System (AMSAS) which has been fitted to an R3 motorcycle. The two-wheeler manufacturers further claim that the self-balancing technology assists in stabilizing the vehicle’s posture at speeds of 5 km/hr or less.

Products Covered:
• Metal Balance Bike
• Wooden Balance Bike
• Electric Balance Bike
• Other Products

Applications Covered:
• Commercial
• Home Use

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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o Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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