The consumer spending on luxury products has increased driven by growth in the standard of living. Today, consumers spend a lot of their earnings in luxuries. One such product that has been purchased the most are ride-ons. Ride-ons are wheeled devices where children can sit and move. Today, the ride-ons have become an essential part of consumer goods since they are a significant source of entertainment for kids. Parents today purchase various types of rides for their child to ride and move around the house or on the road.
Ride-ons help the kids to grow their thinking skills and enhance their creativity. Such factors are fueling the growth of the ride-ons market. The ride-ons are available in many types and thus, brings diversity to its end use. Today, the growing interest of consumers in ride-ons are driving the manufacturers to add various features such as front and rear lights, music players, indicators and remote control. Such factors are further capturing a wide number of customers to purchase such luxury products.
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Examples of some of the key players operating in the Ride-ons Market are
Little Tikes.
The ride-ons market can be categorized on the basis of types and type of operation. Amongst all types of ride-ons, the electric bikes and small motorized vehicles are used the most. On the basis of types of operations, the battery powered ride-ons are used the most since they are easy-to-operate and can be controlled by parents. The online sales channel segment is expected to grow significantly due to the increasing interest of consumers in e-commerce purchase. The omni-channel concept is also driving the growth of online sales channel in the ride-ons market.
Segmentation of the ride-ons market based on types:
Segmentation of the ride-ons market based on types of operation:
Segmentation of the ride-ons market based on sales channel:
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The ride-ons are easy to use toys that promote physical fitness since it keeps the children active while developing muscles through pedaling and steering. It also helps in increasing a child’s mobility. Such factors are driving the growth of the ride-ons market. These toys also help them to develop thinking, such as making decisions and developing coordination. It also helps in developing creativity. Such factors are further fueling the growth of the ride-ons market.
Also, the ride- Such factors are hampering the expansion of the ride-ons market. These are very expensive, and thus, low economy families do not purchase it. Such factors are further hindering the adoption of ride-ons in the market.
The ride-ons market is segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. North America is expected to be a large market for ride-ons as a majority of the ride-on vendors such as Toy House, Inc., Jakks Pacific, and Mattel, Inc. are based in the region. The increasing spending of European countries such as Germany, U.K. on luxury is driving the adoption of ride-ons in the region.
The growing popularity of ride-ons in developing regions, such as APEJ, Latin America, and parts of Africa, are characterized by the increased spending on consumer goods in the regions. Rising disposable income among people in the countries mentioned above are likely to increase the scope of penetration of ride-ons in these regions in the near future.
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Global Ride-ons Market segments
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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