Kids Tricycles Market is Estimated To Witness High Growth Owing To Rising Awareness on Child Development through Outdoor Activities

Kids Tricycle Market

The global Kids Tricycles Market is estimated to be valued at US$ 5.33 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Kids tricycles are three wheeled balance bikes that help toddlers and small children build confidence and learn balance. They come in various styles and features like basic plastic models, electronic push bikes and hybrid pedal-push trikes.

 

Market key trends:

One of the key trend gaining traction in the market is the rising popularity of electric kids tricycles. These tricycles are powered by rechargeable batteries and allow kids to ride without having to pedal. They have a speed limiter and come with safety features like rear brakes. The easy maneuverability and hassle-free ride experience offered by electric tricycles is boosting their demand amongst parents with young children.

Segment Analysis

 

The global kids tricycles market is segmented into rear wheel, front wheel, and three wheel types. Among these, the rear wheel tricycle segment dominates the market as they help kids learn balancing and turning easily. Rear wheel tricycles provide stability and allow kids to focus on pedaling. Further, the segment is expected to witness high demand during the forecast period owing to the increasing popularity of rear wheel tricycles among parents and kids.

 

Key Takeaways

 

The Global Kids Tricycles Market Size is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing popularity of outdoor riding games and recreational activities among kids.

 

Regional analysis - North America dominates the global kids tricycles market with more than 30% share owing to high disposable incomes and spending on kids recreation. Asia Pacific is expected to be the fastest growing region on account rapid urbanization and rising focus of parents on kids development through outdoor activities.

 

Key players - Key players operating in the kids tricycles market are Radio Flyer, Fisher-Price, Schwinn, smarTrike, Joovy, Little Tikes, Razor, Hape, Kettler, Strider Sports International. Radio Flyer holds the leading market position owing to its large product portfolio and strong distribution network across regions.

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https://www.dailyprbulletin.com/kids-tricycles-market-size-share-growth-outlook-2023/ 

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