The Rising Popularity Of Cycling Tourism Is Anticipated To Open Up The New Avenue For Cycling Wear Market

Cycling Wear Market Size
Cycling Wear Market Size 



The Cycling Wear Market is estimated to be valued at US$ 4889.04 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cycling wear products includes jerseys, bib shorts, tights, jackets, gloves, socks and other accessories that enhance cycling experience and provide protection and comfort to riders. Jerseys are mainly used to provide moisture wicking function and ventilation while riding. Bib shorts are worn to provide padded protection and comfort in sensitive areas. Jackets are used especially for off biking activities or riding in colder weather conditions. Gloves help in proper holding of handlebars and shock absorption. Socks wick away sweat and provide padding and protection.

Market Dynamics:
Cycling tourism is expanding rapidly across various regions which is driving the demand for specialized cycling wear. According to European Cyclists’ Federation, cycling tourism contributed €44 billion to European economy in 2018. Moreover, increasing health awareness about benefits of cycling is encouraging participation in recreational and sports cycling. This is subsequently boosting the sales of high-performance and technologically advanced cycling wear. However, availability of low-cost substitutes may hinder the market growth over the forecast period.
Segment Analysis
The global  Cycling Wear Market Size is dominated by the road cycling segment which accounts for over 40% share of the total market. Road cycling gear such as jerseys, bibs, jackets, gloves etc. cater to the largest base of cyclists who prefer road cycling for leisure and fitness. The products are designed for breathability and comfort during long rides on tarmac roads.

PEST Analysis
Political: The growth of infrastructure for cycling trails and lanes in major cities worldwide is driving the market growth. Many governments are promoting cycling as a mode of transport as well as recreation through initiatives.
Economic: The rising disposable incomes and health awareness is encouraging recreational cycling, positively impacting the cycling wear market. The economic growth has also increased cycling tourism.
Social: Cycling is gaining popularity as a healthy lifestyle activity. Many people have taken up cycling for leisure and fitness during the pandemic. This has boosted the demand for high-performance cycling apparel.
Technological: Companies are focusing on R&D to develop moisture-wicking, breathable and lightweight fabrics using antipilling, antibacterial, UV-protection technologies. Fitness trackers are also being integrated into cycling gear.

Key Takeaways
The global cycling wear market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing health awareness and participation in cycling activities. The market size for 2023 is estimated to be US$ 4889.04 Mn.
Regional analysis: Asia Pacific region is expected to witness the fastest growth in the cycling wear market due to rising disposable incomes, growing cycling culture and infrastructure development in the major countries like China, India, Japan, Australia etc.
Key players operating in the 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 Pedal

 

Read More: https://www.rapidwebwire.com/cycling-wear-market-analysis/

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