What is Remote Control Toy Car Market?
Remote Controls are the key for any such devices that need to be operated from a definite distance through two mediums namely a wireless or a wired connection. There are many applications that use these remote controls for the purpose of making life easy for consumers. These remote controls mainly use remote or infrared signals for the transmission. It is a small handheld and battery-operated device. An increase in the usage of consumer electronics like television and some of the home appliances and toys are driving the market of the remote controllers. The mostly used toy which is remote controlled is Cars. Children nowadays are very much aware of the technologies and can easily handle and work with it. Remote-controlled cars are the miniatures of cars that can be controlled through a particular distance with the help of a specialized remote. The term "REMOTE CONTROL" is used due to the feature that the car can be controlled by a remote or a physically connected wire. Most of the toy cars are chiefly marketed concerning the children, although some of the older enthusiasts enjoy fiddling with them and further improvising and remodeling them. Also, many toy cars have a highly detailed body shell, which is often modified for the purpose of racing cars so as to give them a higher scale appearance.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Tamiya Corporation (Japan), HPI Racing A/S (Denmark), Redcat Racing (United States), Maisto International Inc. (United States), Traxxas (United States), World Tech Toys (United States), Tekno RC, LLC. (United States), Mugen Seiki (Japan), Stadlbauer Marketing + Vertrieb GmbH (Austria), Kyosho (Japan) and Horizon Hobby, LLC (United States) |
The market study is being classified by Type (Wireless Remote Control Car and Wired Remote Control Car), by Application (Individual and Commercial) and major geographies with country level break-up..
Tamiya Corporation (Japan), HPI Racing A/S (Denmark), Redcat Racing (United States), Maisto International Inc. (United States), Traxxas (United States), World Tech Toys (United States), Tekno RC, LLC. (United States), Mugen Seiki (Japan), Stadlbauer Marketing + Vertrieb GmbH (Austria), Kyosho (Japan) and Horizon Hobby, LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Thunder Tiger (Taiwan), Alpha Group Co., Ltd. (China), Hobbico, Inc. (United States) and Rastar (HK) Industrial Co. Ltd (China).
The fragmented nature of the market is due to the great number of players present in the market. Market leaders are now focusing on new product innovations and developments due to highly changing customer demands and preferences. Also with the increase in demand from the emerging economies is also driving the demand for the remote control toy car market. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Remote Control Toy Car market throughout the forecasted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Remote Control Toy Car market by Type, Application and Region.
On the basis of geography, the market of Remote Control Toy Car has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Population of Children and Rising Disposable Income has boosted the Growth of the Remote Control Cars Market
- Increasing Demand for Remote Control Toy Cars for Gaming Zones in Malls and Other Gaming Shops
Market Trend
- Growing Need of Effective and Easy Handling Toys by the Consumers has provided the Market With a further Push towards Growth
Restraints
- Adverse Effect of Plastics Used in Making of Remote Control Toy Cars
Opportunities
- Rising Focus on New Product Inventions by the Manufacturers is Providing More Opportunities for the Growth of the Market
Challenges
- Growing Dominance of the Local Players
- Availability of Other substitute Toys Can Cause Hindrance to the Remote Control Toy Car Market
Key Target Audience
Manufacturers of Remote Control Toy Cars, Traders, Distributors, and Suppliers of Remote Control Toy Cars, Online and Offline Retailers, Potential Investors and Market Research Firms