Ride-on Toys Market

Global Ride-On Toys Market Size (2024 to 2029)

The global ride-on toys market is expected to be valued at USD 230.9 billion by 2029 from USD 162.3 billion in 2024, growing at a CAGR of 7.3% from 2024 to 2029.

Current Scenario of the Global Ride-On Toys Market

The continued development of the new Ride-on to increase customer interest in buying cycling devices for children is one of the major trends in the Ride-on market.

Today, consumers spend most of their income on luxury goods. One such product is Ride-on. Ride-On is a wheeled device that allows children to sit and move around. It has become an integral part of consumer products as they are an essential source of entertainment for children. Today's parents buy different ride-on toys for their children to run and move through their homes and streets. Ride-on toys are easy to use and keep young people busy while developing muscles with pedaling and steering. It also helps in a child's movement development. These toys grow thinking skills such as decision-making and coordination among children. With increasing consumer interest in Ride-Ons, manufacturers add features such as front and rear lights, music players, turn signals, and remote controls. Due to more internet penetration and increasing consumer interest in e-commerce, vendors also focus on selling their products online.

MARKET DRIVERS

In recent years, the ride-on toy sector has had exceptional growth, which is expected to continue in the coming years. The expansion of the ride-on toys market can be due to increased investments in R&D activities, the entry of new companies, product innovation, technological advances, efficient resource allocation, and growing competitiveness among business rivals to extend its geographical and client base. Soon, positive government policies and incentives, as well as favorable regulations, are expected to determine the growth of the ride-on toys market.

The growing popularity of colorful toy items among preschoolers is expected to boost market growth as well. Today, parents are finding different ways to supplement their education outside the classroom by allowing them to play educational games. Rapid urbanization in both developed and developing countries leads to an increase in the disposable income of consumers. This increase ultimately leads to a rise in demand for luxury toys, helping vendors earn higher revenue. Parents becoming active in their children's health is another major contributor to the Ride-On Market as it keeps young people busy while developing muscles with pedaling and steering. It also helps in increasing a child's mobility.

MARKET RESTRAINTS

The growing popularity of online games among children, as they can be played without any extra play kit on smartphones and tablets, poses challenges to the growth of the Ride-On Toys industry market. Ride-On toys like jeeps, cars, bikes, etc., are also very costly for low- to middle-income families, which hinders the adoption of Ride-On Toys. The availability of such toys in public places like shopping malls, superstores, and public gardens also affects the market's growth as parents prefer them rather than spending huge amounts on purchasing them.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Ride-on Toys Market By Product Type

Due to increased consumer desire for this type of toy, the electric ride-on toys sector accounted for a large market share in the worldwide Ride-on Toys market. The infant toys department's technological advancements and ingenuity resulted in a spectacular line of electric ride-on toys for children. These are little motorized vehicles that can be operated remotely. The child can even maneuver some of them manually. These toys have grown in favor among little children, and they are ideal for providing children with the ultimate driving experience. These are the variables that are driving demand for electric ride-on toys around the world.

Global Ride-on Toys Market By Distribution Channel

Due to increased retail sales around the world, the offline sector accounted for the greatest market share in the worldwide ride-on toys market. However, due to increased customer preferences for the e-commerce business, online channels will be the fastest-growing during the forecast period. According to the United States Census Bureau News, total e-commerce sales in the United States are predicted to reach USD 870.8 billion in 2021, up 14.2 percent from 2020. Total retail sales grew 17.9% from 2020 to 2021. E-commerce sales will account for 13.2% of overall sales in 2021. E-commerce sales will account for 13.6% of overall sales in 2020.

REGIONAL ANALYSIS

Africa makes up the ride-on market. Because the bulk of ride-on vendors is situated in the region, such as Toy House, Inc., Jakks Pacific, and Mattel, Inc., North America is likely to be a strong market for ride-on. The adoption of ride-on in the region is being driven by the increased expenditure on luxury in European countries like Germany and the United Kingdom.

Due to increased disposable income and consumer preferences for ride-on toys in emerging economies such as India and China, the Asia Pacific ride-on toys market would grow positively over the forecast period. Toys and games are playing an increasingly important role in the market growth as parents become more concerned about their children's development. In addition, nations such as China have abandoned their one-child policy, resulting in an increase in the number of children, which is likely to stimulate the growth of the various toys and game markets. Furthermore, rather than teaching children essential skills, parents and educators choose to boost their children's talents through educational toys, which is predicted to give lucrative chances for the Asian ride-on toy industry.

KEY MARKET PLAYERS

Companies such as Kid Trax Toys, Peg Pérego, Jakks Pacific, Inc., Toy House, Inc., Mattel, Inc., Toyzone Impex Private Limited, Trunki, Dream International Ltd., Kids II, Inc. and Little Tikes are playing a dominating role in the global ride-on toys market.

RECENT HAPPENINGS IN THE MARKET

• Kid Trax Toy has announced a unique partnership with Ford Motor Company to celebrate the return of the iconic Ford Bronco on November 2, 2021.
• A kid-sized version of the legendary 4x4 SUV will hit the market to provide Ford fans, parents, and their young adventurers with an interactive vehicle that mimics the features of its highly coveted grown-up counterpart, including the iconic running lights, sport bucket seats, and a realistic spare fifth tire on the back. The classic Ford Bronco is back on the market for the first time since 1996, and Kid Trax is honored to be the exclusive Ford Bronco toy licensor in 2021.

DETAILED SEGMENTATION OF THE GLOBAL RIDE-ON TOYS MARKET INCLUDED IN THIS REPORT

This research report on the global ride-on toys market has been segmented and sub-segmented into the following categories.

By Product Type

• Push or Pull Ride-On Toys
• Pedal Ride-On Toys
• Electric Ride-On Toys
• Rocker Ride-On Toys

By Distribution Channel

• Online
• Offline

By Application

• 6-12 months
• 1-2 years
• 2-3 years

By Region:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• The Middle East and Africa