The global Cycling Wear Market is estimated to be valued at US$ 3,743.8 million in 2021 and is expected to exhibit a CAGR of 6.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Cycling wear refers to specialized clothing and accessories designed for cyclists. These include jerseys, bib shorts, jackets, gloves, helmets, shoes, and socks, among others. Cycling wear offers numerous advantages such as moisture-wicking properties, durability, breathability, and aerodynamic designs, which enhance the performance and comfort of cyclists.
With a growing focus on fitness and increasing participation in cycling as a recreational and professional sport, the demand for cycling wear has witnessed significant growth. The need for specialized clothing and accessories that provide comfort, protection, and performance benefits while cycling has fueled the market growth.
B) Market Key Trends:
One key trend in the global cycling wear market is the increasing popularity of cycling as a sustainable and eco-friendly mode of transportation. With rising environmental concerns and efforts to reduce carbon emissions, more people are adopting cycling as an alternative to cars or public transport. This trend has led to a surge in demand for cycling wear as individuals seek functional and comfortable clothing to enhance their cycling experience.
For example, cities around the world have implemented bike-sharing programs and developed cycling infrastructure to promote cycling as a means of transportation. This has increased the number of cyclists on the road, driving the demand for cycling wear. Furthermore, advancements in fabric technologies have improved the performance and comfort of cycling wear, further attracting consumers.
C) PEST Analysis:
Political: Governments worldwide are promoting cycling as a sustainable mode of transportation, offering incentives such as tax breaks for cyclists and investing in cycling infrastructure.
Economic: The increasing popularity of cycling has boosted the sales of cycling wear, driving the revenue growth of the market. Furthermore, the rise in disposable incomes and the growing fitness-conscious population have contributed to market expansion.
Social: The growing health and wellness trend, coupled with the desire to reduce carbon emissions, has led to an increase in the number of cyclists globally. This social shift has created a favorable environment for the cycling wear market.
Technological: Advancements in fabric technologies have led to the development of high-performance cycling wear with improved breathability, moisture-wicking properties, and aerodynamics. Furthermore, the integration of smart technologies such as sensors and wearable devices into cycling wear has enhanced the overall cycling experience.
D) Key Takeaways:
1. The global Cycling Wear Market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing popularity of cycling as a sustainable mode of transportation and sport.
2. In terms of regional analysis, Europe is anticipated to be the fastest-growing and dominating region in the cycling wear market. The region's strong cycling culture, supportive government initiatives, and well-established cycling infrastructure contribute to its market dominance.
3. Key players operating in the global cycling wear market include Lumiere Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., Assos Of Switzerland Sa, Cuore Of Switzerland Inc., Endura Limited, Tewsn Cycling Gear Limited, Isadore Apparel, Rapha Racing Limited, 2xu Pty Ltd., Maap, Attaquer Pty Ltd., Blacksheep, Pas Normal Studios, Santini Maglificio Sportivo S.R.L. P.I. - C.F., Capo, and Pedla.
In conclusion, the global cycling wear market is witnessing significant growth due to the increasing popularity of cycling as a sustainable and eco-friendly mode of transportation. With advancements in fabric technologies and growing fitness-consciousness, the demand for specialized clothing and accessories for cyclists is expected to rise. Europe is projected to be the dominant region in the market, supported by its strong cycling culture and government initiatives. Key players in the market are focused on innovation and product development to cater to the diverse demands of cyclists worldwide.
The global Cycling Wear Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cycling wear market include Lumiere Cycling, Giro Sport Design, Castelli Cycling, Rapha Racing Limited, Champion System, United Apparel Solution Ltd., Assos of Switzerland GmbH, Endura Limited, Isadore apparel, 2XU.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cycling Wear Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cycling-wear-market/download-sampleMarket DynamicsAn increasing number of health issues like diabetes, obesity, high blood pressure, and the eagerness to maintain a healthy lifestyle have motivated many people to integrate cycling as a part of their lifestyle.
Awareness about environmental issues is also an essential factor in the popularity of cycles and cycling wear.
Numerous cycling events are held throughout the year, and the increasing importance of adventure sports is also influencing the market for cycling wear positively.
