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iCrowdNewswire Jan 18, 2021 7:00 AM ET

Global Junior Bikes Market Expected to Reach USD 22,853.95 Million by 2027


Global Junior Bikes Market Expected to Reach USD 22,853.95 Million by 2027

iCrowd Newswire - Jan 18, 2021

Global Junior Bikes Market Key Takeaways-min

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Junior Bikes Market by Types, End-users, Wheel Sizes, and Regions: Size, Share, Trends, and Opportunity Analysis, 2020-2027”, the market was valued at USD 16,800.44 Million in 2019 and is anticipated to expand at a CAGR of 4.2% during the forecast period, from 2020 to 2027. The mapping of children’s bicycle industry has always remained challenging. Parents are focused on providing their children with an impressive exposure to the world of cycling, especially if it is their children’s first ride. However, parents sometimes avoid introducing bikes at a young age to prevent mishaps. Health benefits associated with cycling is another aspect that has increased market demand for junior bikes.

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The global junior bikes market is fragmented based on types, end-users, wheel sizes, and regions. Based on types, the junior bikes market has been categorized as mountain bikes, road bikes, and others. In terms of end-users, the market has been segmented into boys, girls, and others. On the basis of wheel sizes, the market is segregated as less than 12 inch, 12 inch -14 inch, 14 inch – 16 inch, 16 inch -18 inch, 18 inch – 20 inch, 20 inch – 24 inch, and others. Based on regions, the global junior bikes market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is bifurcated into countries such as the U.S. and Canada. Latin America is segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is segregated into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. Europe is categorized as the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, while the MEA is segregated into Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa (MEA).

The effect of COVID-19 is anticipated to be strongly felt in the consumer durable industry due to high dependency of different global industries for imports. Moreover, the pandemic situation has led to the closure of several non-essential businesses reducing the demand for consumer durables in the world, which in turn, is impeding the manufacturing industries worldwide. Since the COVID-19 pandemic is changing the end-user demand dynamics worldwide, the demand for junior bikes is reducing in the short-term. The COVID-19 effects majorly on manufacturing units, which are currently working with 50% workforce. The global supply chain has slowed down due to restrictions on national borders.

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As per GMR industry analyst Akshata Ahire, “The Global Junior Bikes Market is anticipated to expand at a significant pace during forecast period, between 2020 and 2027. Increasing use of junior bikes by children owing to environmentalists has created a strong impression on children about the positive impact of cycling on health and environment. Pediatric and medical literature have consistently concentrated on the beneficial impact of cycling on children. This, in turn, is expected to boost the demand for junior bikes during the forecast period.”

Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 16,800.44 Million

Market Growth Rate (from 2021 to 2027)

4.2%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million), Volume ( 000’s unit)

Market Segments

Types, End users, and Wheel Sizes

Regional Scope

North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA)

Country Scope

The U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, Indonesia, Australia, Rest of Asia Pacific, the UK, France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, the UAE, and Rest of MEA.

Key Companies Profiled

Cleary Bikes, Giant Bicycles, Goodbaby International Holdings Limited, Haro Bikes, Huffy Corporation, Kawasaki, Kent International, Norco Bicycles, Schwinn Bicycles, and Trek Bicycle Corporation

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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