The global bicycle apparels and accessories market grew due to increased participation in outdoor activities and an increase in the number of triathletes. Despite the growing popularity of outdoor activities among the general public, the pandemic has had a negative impact on the participation of persons with stay-at-home orders in outdoor activities around the world.
Increased engagement in outdoor activities and increased knowledge of the benefits of these activities on a child's health have driven the global cycling apparels and accessories market in recent years. According to Market Research Future, the market will gain a CAGR of 5.05% and reach a value of USD 9,529.1 million by 2027.
Segment Analysis
The segmental study of the bicycle apparels & accessories market is carried out on the basis of type, category, distribution channel, and region. The bicycle apparels & accessories market type segment consists of helmets, pants & shorts, shoes, jerseys & tees, gloves, goggles & glasses, protection gears, and socks. The region segment of the bicycle apparels & accessories market consists of Asia-Pacific, South America, North America, Europe, and the Middle East & Africa. The bicycle apparels & accessories market category segment consists of road bikes, mountain bikes, and city bikes. The distribution channel segment of the bicycle apparels & accessories market consists of store-based, which includes supermarkets & hypermarkets, specialty stores, and non-store-based.
Regional Analysis
The regional overview of the bicycle apparels & accessories market includes Asia-Pacific, South America, North America, Europe, and the Middle East & Africa. One of the most significant growth factors of the regional market is the expanding product portfolio of leading manufacturers, which includes innovation in colors, materials, and designs of various product kinds. Technology advancements, such as the usage of LEDs and airbags in helmets, are projected to impact the region's overall bicycle apparel and accessories industry. In 2019, the European cycling apparel and accessories market held the largest share of the global market. In 2019, Germany, the United Kingdom, France, and Italy dominated the market, with Italy predicted to be the fastest-growing country-level market during the forecast period. Every year, a number of cycling events are held in the region, and many people participate, resulting in increased sales of bicycle equipment and accessories.
Competitive Analysis
Corporations need to think about automating low-value, time-consuming manual processes. The major concerns for businesses are future market access for competitors and the peer group's deep funds for acquiring market share. The company transformation's purpose was to maximize potential throughout the value chain. Despite their importance, companies' risk monitoring and mitigation strategies fall short of their board of directors' expectations. Organizations can benefit greatly from successful data, technology, and analytics integration. In order to develop a solid reporting and monitoring strategy, a combination of internal staff and external advisors must be used to integrate company knowledge with information about best practices. For executives improving customer experience is a top strategic priority, but rising expectations, fast-changing technologies, and market upheaval make it challenging to achieve. During this crisis, connectivity has been the most important enabler of social involvement. All stakeholders must work together to build the digital infrastructure to support new forms of remote working and advance the digital way of life.
The renowned companies in the bicycle apparels & accessories market are Giant Bicycles, Inc (TaiwanTrek Bicycle Corporation (US), Rapha Racing Limited (UK), POC Sports (Sweden), PEARL iZUMi (US), Manifattura Valcismon S.P.A. (Italy), ASSOS of Switzerland GmbH (Switzerland), Fox Head Inc (US), Adidas AG (Germany), 100% Speedlab, LLC (US), ), Specialized Bicycle Components, Inc. (US), Black Sheep Cycling (Australia), Velocio. (US), Pas Normal Studios (Denmark) and Vaude (Germany).
Industry Updates:
Oct 2021 Lululemon has been named Team Canada's Official Outfitter for the 2022 Olympic and Paralympic Winter Games. Hudson's Bay, which had held the position since the 2006 Winter Games in Turin, Italy, has been replaced by the Canadian athletic apparel brand. Leggings, bicycle shorts, T-shirts, sweatshirts, and accessories are among the 32 items in the Lululemon line for women and men.
Market Research Future has published a cooked research report on the Global Bicycle Apparels & Accessories Market, 2018–2027.
The global bicycle apparels & accessories market is projected to exhibit a CAGR of 5.05% during the forecast period of 2020 to 2027.Market Research Future has recognized the following companies as the key players in the global bicycle apparels & accessories market: Adidas AG (Germany), Giant Bicycles, Inc (Taiwan), Specialized Bicycle Components, Inc. (US), Trek Bicycle Corporation (US), ASSOS of Switzerland GmbH (Switzerland), Rapha Racing Limited (UK), POC Sports (Sweden), Fox Head Inc (US), 100% Speedlab, LLC (US), PEARL iZUMi (US), ManifatturaValcismon S.P.A. (Italy), Black Sheep Cycling (Australia), Velocio.
(US), Pas Normal Studios (Denmark), and Vaude (Germany).Market HighlightsThe global bicycle apparels & accessories market is projected to be valued at USD 9,529.1 million by 2027, recordinga CAGR of 5.05% during the forecast period.
High involvement in outdoor activities, an increasing number of triathletes, and stringent government regulations regarding cyclist safety have cumulatively resulted in the market's growth in the past few years.
As the sales of bicycles increased, the sales of parts, helmets, and other accessories have also increased.Access full report @ https://www.marketresearchfuture.com/reports/bicycle-apparels-accessories-market-10572Segmental AnalysisThe global bicycle apparels & accessories market has been segmented based ontype, category, distribution channel, and region.By type, the market has been divided into helmets, jerseys & tees, gloves, pants & shorts, shoes, goggles & glasses, protection gears, socks, and others.The jerseys & teessegment accounted for the largest market sharein 2019,whereas the glovessegment is expected to record the highest CAGR of 5.84% during the forecast period.
The store-based channel has been further segmented into supermarkets & hypermarkets, specialty stores, and others.
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