Global Sales of Electric Baby Car Market is Expected to Accelerate at a Whopping 7.2% CAGR, Reaching US$ 274.0 Billion by 2031 - TMR Report

Wilmington, Delaware, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global electric baby car market stood at US$ 146.7 billion in 2022, and the global market is projected to reach US$ 274.0 billion by 2031. The global industry is anticipated to record a CAGR of 7.2% between 2023 and 2031.

The value of electric baby car market is increasing, owing to the growing awareness of early learning and development. Parents and caregivers are increasingly recognizing the importance of early learning and development in children. Electric baby cars provide a fun and interactive way for young children to explore their surroundings, develop gross motor skills, and enhance their spatial awareness.

The vehicles often feature steering wheels, pedals, and realistic controls, allowing children to imitate adult driving behavior and experience a sense of independence and achievement.

Emphasis on outdoor activities, is another significant factor contributing to the market growth. In the digital age, there is a growing concern about children spending too much time indoors with screens and electronic devices.

Electric baby cars encourage outdoor play and physical activity, which is crucial for children's physical and mental development. The cars offer a safe and enjoyable way for children to spend time outdoors, engage in imaginative play, and interact with their environment.

The market prospects have been driven by factors such as parental convenience and peace of mind. Electric baby cars are designed to be parent-friendly. They are often equipped with remote control functions that allow parents to take control of the vehicle if needed, ensuring the child's safety in case of any potential risks. The feature provides parents with peace of mind and allows them to supervise their child's playtime while providing a sense of freedom for the child.

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Market Snapshot:

Key Findings of the Market Report

• On the basis of material, the plastic segment is expected to hold a significant share, and is likely to be most preferred, attributed to the lightweight & maneuverability, durability & longevity, as well as safety & child-friendly.
• By battery, the 12V segment is anticipated to hold a significant share, and is expected to augment the market growth, attributed to the factors including optimal power and speed, and age-appropriate performance.
• By speed, the “3 km/h” segment is expected to account for a significant share, owing to factors such as safety for young children, and age-appropriate performance.
  

Global Electric Baby Car Market: Growth Drivers

• The global electric baby car market is projected to expand at a steady pace from 2023 to 2031, owing to the technological advancements, and influence of media and entertainment.
• Other factors that are projected to augment the market growth include focus on sustainable and eco-friendly toys, as well as product diversity and customization.
• Favorable safety standards, and rising disposable income and gifting culture, are the major factors that are anticipated to fuel the market prospects in the near future.
  

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Global Electric Baby Car Market: Regional Landscape

• The electric baby car market in Asia Pacific is expected to hold a significant share, attributed to
• rising disposable income, and growing urbanization in the region.
• The regional market is witnessing an increase, due to the factors such as changing parenting patterns, as well as influential social media.
• Increase in online retailing, and emphasis on child development in the region, are also anticipated to escalate the growth of the regional market over the analysis period.

Global Electric Baby Car Market: Key Players

Some of the key market players in the global electric baby car market are:

• BMW AG
• Baybee
• Little Tikes
• Mattel
• Mekashi Toys Private Limited
• Mercedes-Benz
• Peg Perego
• Radio Flyer, Inc.
• StarAndDaisy
• Toyzoo

Competitive Landscape

Prominent players in the electric baby car industry are taking advantage of the rapidly increasing demand for electric baby car. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:

• In May 2023, The First Years, a leading baby gear brand, announced the launch of its new electric baby car, The First Years Turbo.
• In April 2023, Mountain Buggy, a leading stroller brand, announced the launch of its new electric baby car, Mountain Buggy Nano.
• In March 2023, Britax, a leading car seat and stroller brand, announced the launch of its new electric baby car, Britax B-Motion.
• In February 2023, Peg Perego, another leading baby gear and stroller brand, announced the launch of its new electric baby car, Peg Perego Pliko.

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Global Electric Baby Car Market: Segmentation

By Material

• Plastic
• Metal
• Iron
• Others (Aluminum, Fiber, and PVC)

By Battery

• 6V
• 12V
• 24V
• 36V

By Speed

• 3 km/h - 5 km/h
• 6 km/h - 14km/h
• 15 km/h - 20km/h
• Above 20km/h

By Age

• Below 2 Years
• 2 Years - 5 Years
• 5 Years - 8 Years
• Above 8 Years

By Price

• Low
• Medium
• High
  

By Application

• Residential
• Commercial
  • Shopping Malls
  • Amusement Parks
  • Others (Railway Stations and Airports)
    

By Distribution Channel

• Online
  • E-commerce Websites
  • Company-owned Websites
• Offline
  • Supermarkets / Hypermarkets
  • Specialty Stores
  • Other Retail Stores
    

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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08/07/2023 15:00

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