Balance Bike Market Is Estimated To Witness High Growth Owing To Increasing Popularity Among Kids

  • Ronak Shah
  • U.S.A
  • January 17, 2025

The balance bike market is estimated to be valued at US$ 988.7 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights’ The increasing popularity of balance bikes among kids is one of the major factors expected to drive the growth of the balance bike market during the forecast period.

Balance bikes help kids learn balancing, steering control, and pedaling in a safer way without the use of pedals. This allows kids to learn riding at an early age without fear of falling. Moreover, balance bikes are affordable and lightweight compared to pedal bikes, which is another factor fueling their adoption among parents. Balance bikes also improve kids’ coordination and confidence. The growing awareness about the benefits of balance bikes for kids’ development is augmenting the demand for balance bikes.

Key Market Trends: The introduction of ergonomic balance bikes is one of the emerging trends in the balance bike market. Manufacturers are focusing on designing balance bikes with ergonomic frames and handles to provide maximum comfort, control, and safety to kids. For instance, Strider launched Strider Sport 12 balance bike with an aluminum frame, foam grips, and no-slip pedals. Furthermore, the adoption of balance bikes for physical therapy is gaining traction. Balance bikes are being used in physical therapy sessions for kids with disabilities such as cerebral palsy, Down syndrome, and autism to improve their balance, coordination, muscle tone, and motor skills.

Balance Bike Market Opportunities: Balance bikes are increasingly being used as an alternative to training wheels for kids between ages 18 months to 4 years. They help kids learn balancing and pedaling without fear of falling over. The training wheels replacement opportunity for balance bikes is expected to grow at a CAGR of 8% during the forecast period. Balance bikes offer a smooth transition to pedal bikes as compared to training wheels and allow independent riding at an earlier stage.

Many parents are choosing balance bikes as an entry level option for their kids interested in cycling. Unlike tricycles, balance bikes simulate the riding experience of pedal bikes and help develop important riding skills from a young age. The entry level biking opportunity for balance bikes is projected to reach a value of $200 Mn by 2028. Their lightweight designs and added stability and control makes them ideal for beginner riders.

On the basis of type, the strider balance bike segment is expected to hold a dominant position till 2031, owing to their resemblance to pedal bikes and ease of use. Strider balance bikes allow kids to stand over the frame like a pedal bike to balance themselves without any restrictive seats. Their market size is projected to reach $450 Mn by 2028.

In terms of product, the metal balance bike segment captured over 60% of the global market share in 2019 due to higher durability and longevity. However, the plastic balance bike segment is anticipated to witness fastest growth during the forecast period since plastic variants are cheaper and lightweight.

North America is anticipated to dominate the global balance bike market during the forecast period. The United States alone holds over 40% of the market share currently due to high cycling culture and purchases of balance bikes as first riding devices. Growth in this region is supported by increasing cycling awareness campaigns and easy bike accessibility.

Key Market Takeaways: The global balance bike market is anticipated to witness a CAGR of 6.8% during the forecast period 2024-2031, owing to rising popularity as a foundational riding tool. On the basis of type, strider balance bike segment is expected to hold a dominant position, owing to their resemblance to pedal bikes. In terms of product, the metal balance bike segment currently dominates but plastic variants will grow fastest. Regionally, North America is expected to lead the market over the forecast period due to extensive cycling adoption and culture.

 Competitor Insights: Key players operating in the market include Chicco, Cruzee, Glide Bikes, Inc., Kaboo mfg, LLC and Lil Shredder. These brands cumulatively capture over 65% of the global market share.

Recent Developments: In June, Strider introduced its newest bike aimed at younger riders just starting out. The Strider Jr features a very low standover height of 10 inches to accommodate kids as young as 18 months. It maintains the no-pedals design that balance bikes are known for, allowing children to focus on balancing while gaining confidence on two wheels. Other key features include ergonomic handgrips with soft rubber for extra comfort and 12-inch pneumatic tires for a smooth ride. More information in full report.

Summary

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