电动玩具：电动玩具市场日趋饱和，技术创新推动行业向中高端产品研发迈进 头豹词条报告系列

Investment Rating - The report does not provide a specific investment rating for the electric toy industry. Core Insights - The electric toy market is becoming saturated, with a shift towards mid-to-high-end product development driven by technological innovation. The overall market has been declining, but there are still opportunities for innovative products that meet consumer needs [3][7][10]. Industry Definition and Characteristics - Electric toys are defined as toys driven by micro motors, primarily powered by batteries. The industry has a low entry barrier and faces severe product homogeneity, leading to market saturation and overall decline [4][7]. - The market share of electric toys remains significant, despite a decrease in consumer demand due to the emergence of other toy categories [8][10]. Market Size and Growth - The electric toy market in China grew from 14.865 billion yuan in 2017 to 17.662 billion yuan in 2022, with a CAGR of 3.51%. It is projected to reach 19.386 billion yuan by 2027 [23][24]. - The retail market for electric toys is expanding, with a notable increase in consumer spending on educational and entertainment products [23][24]. Competitive Landscape - The electric toy industry is highly competitive, with major players including Aofei, Xinghui, and Jiaqi. The low entry barriers and high number of small enterprises contribute to intense competition [32][33]. - The demand for high-quality, innovative electric toys is increasing, leading larger companies to focus on mid-to-high-end product development [32][33]. Industry Chain Analysis - The supply chain consists of upstream raw material suppliers, midstream manufacturers, and downstream sales channels. The industry is characterized by a simple supply chain structure, with significant reliance on raw material costs [17][18]. - The majority of electric toy exports come from Guangdong province, which accounts for 70% of the national total [18]. Policy Overview - Recent policies have aimed to enhance safety standards and regulate the industry, impacting the development and sales of electric toys [26][27][30]. Future Outlook - The industry is expected to continue evolving towards mid-to-high-end products, with a focus on innovation and quality to meet changing consumer preferences [10][11][32].