PUBLISHER: Allied Market Research | PRODUCT CODE: 1344556
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344556
According to a new report published by Allied Market Research, titled, "Ride-on Luggage Market," 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.
Luggage is one of the most important aspects of traveling as it is the primary means of transporting clothes, toiletries, electronics, and other belongings. Luggage units such as suitcases, duffel bags, and briefcases can be very heavy depending on the amount of clothing and other essentials stored in the luggage based on the length of travel or the purpose of the travel. 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. Customers can easily ride the suitcases in the form of scooters or with the help of acceleration through a motor in motorized ride-on luggage, making it the most convenient way to transport luggage and also helping to provide additional comfort. These factors have increased the popularity of ride-on luggage, which is driving market growth.
Customers find ride-on luggage to be a very convenient mode of luggage transportation. The raw materials used to make ride-on luggage, on the other hand, are slightly more expensive than those used to make regular luggage. When compared to standard types of luggage, the incorporation of electronic components such as lithium-ion batteries, accelerators, and brakes into motorized ride-on luggage significantly raises the price. Similarly, the addition of scooters and seating areas to traditional ride-on luggage raises the price of the luggage. Consumers are discouraged from purchasing ride-on luggage as the average cost of the cheapest ride-on luggage is almost always equal to the cost of premium regular luggage. Many customers do not require luggage such as suitcases or carry bags on a regular basis because they are not frequent travelers. The high price of ride-on luggage may discourage consumers from purchasing it, creating market growth barriers.
Ride-on luggage market manufacturers are well-represented in developed regions around the world due to increased demand for such products in these regions. Owing to increased demand in developing regions such as Asia-Pacific and LAMEA, proper quality ride-on luggage must be imported into the regions, raising product costs and discouraging consumers from purchasing ride-on luggage. However, as demand grows, a growing number of smaller players, particularly in China and India, are entering the ride-on luggage market in developing countries. This makes ride-on luggage more accessible to consumers in the region while also lowering the cost of the ride-on luggage, attracting customers to such products. In order to attract a larger consumer base, they design the products with the needs of the local consumer base in mind. Consumers will have more opportunities to purchase ride-on luggage as the number of players in developing regions grows, assisting the market's growth.
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 divided 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).
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.