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Nowadays, parents across the globe are significantly giving importance to physical activities for their child’s physical and mental well-being, which is surging the utilization of kid scooters. The product assisting in enhancing kid’s social skills, helping children gain more confidence, and acting as a vital tool for reducing obesity among children assist in gaining more traction. The rising production of an innovative scooter that includes attractive lighting specific design and is foldable is an opportunity for market growth. For instance, Baybee comes up with the ‘Alpha-Glide Skate Scooter ‘for kids, which is a foldable three-wheeler scooter with adjustable handlebars, and an LED flashing wheel.
The rising popularity of scooter competition among all age groups propels the usage of the product and assists in favors market growth. For instance, Woden Valley Community Council data in January 2019, declares that the Australasian Scooter Association’s (ASA) Scooter Championship has held Woden Skatepark on 16 February 2019. This competition is design for people of all age groups, including seven years and below, ten years and under, 12 years and under, 13 years and under, 15 years and under, 15 years and under girls, Open, Open /Pro Girls, and Pro. In addition, many active children and young people interested in regular exercise have led to show the positive impact in fueling the demand for the product. For instance, the Sports England.Org data, states that in the academic year of 2019 /20, there are 3.2 million children and young people who met the guideline of taking regular exercise or physical activities for an average of 60 minutes or more per day.
Nevertheless, its substitute products such as bicycles, roller skates, and others possessing a solid presence restrain its growth.
Key Market Driver -
The growing popularity of scooter competitions among all ages favors the market growth
Key Market Restraint -
Its alternative product possessing a robust presence in the market hampers its growth
Fuzion Scooter, Swifty Scooters Ltd, Razor USA LLC, Micro Scooters Ltd., iScootbike Ltd, and others are the key companies operating in the market.
The kids scooter market is segmented into by product type, end-user, sales channel, and geography.
On the basis of product type, the market is bifurcated 2 wheelers and 3 wheelers. 2 wheelers are anticipated to be the dominant segment owing to being more popular among children of 5 years and above which occupies the large percentage of the populace. Similarly, its ability to deliver more speed and be more enjoyable while riding than 3 wheelers is upsurging its preference rate.
Based on end-user, the market is fragmented into male and female. Male segment is estimated to be the large market on account of a larger number of boys having a stronger desire to play with a scooter as compared to playing with dolls or tea sets like most girls.
By distribution channel, the market is divided into retail stores and e-commerce stores. Retail stores are projected to be the greater market due to most consumers possessing the desire to check the scooter's actual physical condition and quality to help avoid any unwanted purchase that could occur.
On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Europe is projected to hold a dominant share and is estimated to continue throughout the forecast period of 2021-2028.
High expenses spent on children’s entertainment, especially during school holidays, are estimated to have a vital impact surging the consumption rate. For instance, Manchester Evening News.Co.Uk data in August 2019, states that parents in the United Kingdom are making average spending of USD 1275.5 for entertaining their kids during their school holidays. In addition, the booming growth of the e-commerce business in countries of this region has played a significant contribution in surging the expenses by parents towards kids scooters. This is due to. key players, increasingly carrying out penetrative online marketing campaigns on various social media platforms such Facebook, Instagram, Youtube, and others. For instance, the data published by the United Nations Conference on Trade and Development in December 2019, states that out of the e-commerce top 10 business to consumers index in 2019, European nations hold 8 of the top 10 places.
Asia Pacific is projected to exhibit a crucial presence in the kids scooter market, owing to the booming growth of the urban population giving awareness of children's products is assisting in surging the sales of the product. As per the World Bank.Org data, states that in 2019 the urban population of East Asia and Pacific has witnessed a rise of 59.887 percent from 59.053 percent in 2018. Besides, the rising dual-income household in the Asia Pacific helping escalate the spending power of parents has a positive influence on the increasing demand. For instance, the Korean Times data, mentions that 46 percent of all married couples in South Korea are considered dual earners.
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