The study on the worldwide COVID-19 Pandemic Impact on Motorcycle Apparel Market 2020 by Market Research Future has been conducted in the view of the current proceeding within the motorcycle apparel industry. The report also considers the impact of the novel COVID-19 pandemic on the motorcycle apparel market. It offers a detailed assessment of the projected market fluctuations during the forecast period (2013-2024) at a pace of 7.11% CAGR while anticipating a valuation of 12,303.4 Million in the same years.
Motorcycle Apparel Growth Boosters
With the progress of global motorcycles and scooters industry, the demand for motorcycle apparel continuously augmented in these years. As a result, the entire production and sales of motorcycle apparel increased in recent years, as per MRFR’s study keeping the impact of Coronavirus on top. Through the vertical comparison, it is manifestly indicated that helmet is the most popular kind of protective apparel among all the other apparels, as it has a market share of 27.88%, while trousers, jackets, gloves, boots, armour and base layers occupy the rest of the share 72.12% of the market. Boots and jacket are ranked second and third on sales in the markets, overall.
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MRFR has further been witnessed that the sales of motorcycles have been continually escalating over the past few years as consumers in the emerging countries can purchase 300-400 cc bikes at moderately affordable prices. Also, the access of iconic bike brands, such as Ducati, Harley Davidson, and Aprilia, in developed countries has aided the market to grow effortlessly and is précised to expand in the same way in the forecasted period.
In fact, the emerging passion toward bike racing among the Indian youth and the enticing deals from motorcycle manufacturers offering gloves, jackets, jackets, and helmets as complimentary apparels is extensively driving the COVID-19 Pandemic Impact on Motorcycle Apparel Market worldwide. Social media has played a critical role in surging brand awareness of various motorcycle apparel companies. Millions of people follow the creation of online communities where online influencers give information about various motorcycle apparels. All these factors are majorly influencing the market’s profit.
On the other hand, the prologue of new tech applications shows high expectancy to bring more opportunities for the expansion of motorcycle apparel market in the forecasted period. In contrast, the factor of high costs of some motorcycle apparel might act as a limiting factor for the development of motorcycle apparel market in the forecasted period.
The prominent vendors in the Global COVID-19 Pandemic Impact on Motorcycle Apparel Market are HJC Inc. (South Korea), KIDO Sports Co. LTD (KIDO Sports) (South Korea), Lanxi Yema Motorcycle Fittings Co., LTD. (China), Foshan Nanhai Xinyuan Helmets Co., Ltd. (China), Soaring Helmet Corporation (Vega Helmets) (US), Chih Tong Helmet Co., Ltd. (Zhitong Enterprise) (China), Dunham’s Athleisure Corporation (US), and Zhuhai Safety Helmets MFG Co., Ltd. (China).
Global COVID-19 Pandemic Impact on Motorcycle Apparel Market by the segment of product type has included base layers, jackets, helmets, shoes, gloves, pants and others.
Global motorcycle apparel market by the segment of end-use has included on-road motorcycle apparel and off-road motorcycle apparel.
Global motorcycle apparel market by the Distribution Channel segment has included store-based and non-store-based.
The North American motorcycle apparel market might become the largest during the forecast period as earlier it accounted for 34.66% of the total market share in 2020. In future, it shows high expectancy to surpass the past figures and would gain a new position. The US is the prime contributor to the growth of the North American motorcycle apparel market.
The market in Asia-Pacific is probable to exhibit the highest CAGR of 7.51% during the forecast period. The rising motorcycle sales in the region are motivating the growth of the market. Rising awareness about the safety of motorcycle riders and rising per capita disposable incomes are the significant factors for the development of the motorcycle apparels market in South America and the Middle East.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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