The global Kids Tricycles Market Growth Accelerated by Increased Urbanization and Disposable Incomes
Kids tricycles include three wheels that help toddlers and young children learn balancing and maneuvering skills. They come equipped with various features for entertainment and safety including frills, horns, cup holders, and braking systems. Rising urbanization levels and disposable incomes in developing countries have boosted the ownership of private vehicles and real estates, propelling the need for suitable outdoor toys for kids. The global Kids Tricycles Market is estimated to be valued at US$ 5.33 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased urbanization has led to smaller living spaces with limited outdoor areas for kids to play. This has accelerated the demand for compact and versatile kids' tricycles that can be used indoors as well as outdoors. Manufacturers are introducing new designs with sleek and multicolored profiles