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| 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/