(MENAFN- EIN Presswire) Ride-on Luggage Market
Ride-on luggage for children dominated in 2021 and ride-on luggage for adults is predicted to have decent growth during the forecast period
Rise in expenditure on the comfort and convenience of children while travelling will further lead to the adoption of ride-on luggage, which will help provide a boost to the market.” - Shankar Bhandalkar5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, May 27, 2023 /einpresswire.com / -- According to a new report published by Allied Market Research, titled,“ride-on luggage market by Type (Conventional, Motorised), by End User (Adults, Children), by Distribution Channel (Offline Channels, Online Channels): Global Opportunity Analysis and Industry Forecast, 2021-2031,". The ride-on luggage market was valued at $182.30 million in 2021, and is estimated to reach $304.2 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Get Free Sample Report PDF:
Ride-on luggage allows users to ride while sitting or standing on it. It is intended to make travel more convenient by eliminating the need to carry heavy suitcases and bags. The majority of ride-on luggage is manual and must be driven by hand, whereas others have motors and batteries and can be driven with accelerators and brakes.
Furthermore, disposable income has rapidly increased in North America and Asia-Pacific, acting as a major driver for the Ride-on Luggage industry. Luggage such as suitcases, duffel bags, briefcases, and others can be quite heavy depending on the amount of clothing and other essentials stored in the luggage based on the length of the trip or the purpose of the trip. Customers prefer luggage units that are easy to move and carry around due to the weight of the luggage, which primarily include wheeled suitcases and bags. Ride-on luggage is the most convenient way to transport luggage and it also offers comfort, with the inclusion of mobile device charging ports being among the new Ride-on Luggage Market Trends.
The ride-on luggage market is segmented on the basis of type, end user, distribution channel, and region. By type, the ride-on luggage market is classified into conventional and motorized. Depending on end user, the market is categorized into adults and children. By distribution channel, the market is bifurcated into offline and online channels of sale. By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Procure Complete Report:
The conventional ride-on luggage segment accounted for the majority of ride-on luggage market share, and the motorized ride-on luggage segment is expected to grow steadily with a CAGR of 4.3% during the forecast period, as motorized ride-on luggage is gaining popularity due to ease of travel, thus increasing the Ride-on Luggage Market Demand. Children were the most frequent users of ride-on luggage, accounting for 74.3% of the market share, and adults are expected to have the highest growth due to the older generation's use of ride-on luggage. Offline sales channels were the most popular mode of purchase of ride-on luggage in 2021, however, online sales channels are expected to grow at a CAGR of 5.95% in the future according to the Ride-on Luggage Market Analysis due to the ease of purchase and a larger variety of ride-on luggage available online.
North America was the largest shareholder in terms of ride-on luggage sales in 2021 owing to the region's high popularity of novelty and convenience products, particularly in the U.S. Europe held the second-largest market share, while the Asia-Pacific region is expected to grow at the fastest rate, with a CAGR of 6.3% by the end of the forecast period.
Some of the major players analyzed in this report are Airwheel Holding Limited, Elan Travel System LLC, Hebei Faye Co., Ltd., Kiddietotes, Kids Luggage Store, Micro Mobility Systems AG, Modobag, Ningbo zhongdi Stereo luggage manufacturing co. LTD, Olaf scooter, Pretty Coast Plastic Toys Co., Ltd., Rydebot LLC, Stokke AS, Trunki , Tucci Disegno, and Younglingz.
Enquire before buying:
Key Findings of the Study:
○ By type, the conventional segment dominated the market in 2021 and the motorized segment is expected to have the highest growth during the forecast period.
○ By end user, the children segment is the largest and is anticipated to be the fastest growing segment during the forecast period.
○ By distribution channel, offline channels had the highest market share in 2021 while the online channel is expected to have the highest growth during the forecast period.
Reasons to buy:
○ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
○ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
○ Classify potential new clients or partners in the target demographic.
○ Develop tactical initiatives by understanding the focus areas of leading companies.
○ Plan mergers and acquisitions meritoriously by identifying Top Manufacturer.
○ Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
○ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
○ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
○ Create regional and country strategies on the basis of local data and analysis.
Read More Trending "AMR Exclusive Insights:
○ Luggage Market Size, Growth Analysis, Opportunities, Business Outlook
○ smart luggage market Trends, Opportunity and Growth Analysis Forecast by 2030
○ Travel Duffle Bags Market Trend, Growing Demand and Business Outlook
○ Laptop Bag Market Analysis, Key Segments, Growth
○ Waterproof Bags Market Analysis By Growth Rate, Opportunities and Forecast
○ Moisture Barrier Bags Market Size, Future Demand and Leading Players
○ Travel Transportation Market Segments, Growth Opportunity and Forecast By 2023-2030
David Correa
Allied Analytics LLP
+ 1-800-792-5285
email us here
What Sets Us Apart ? - Allied Market Research