The global cycling wear market was valued at US$ 3,307.2 million in 2017, according to Cycling Wear Market Report, by Product Type (Clothing, Footwear, Head Gear, and Eye Wear), by Distribution Channel (Hypermarket, Specialty Stores, Direct to Consumer, Wholesale, and Online), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights. The global cycling wear market is projected to reach US$ 5,572.2 million by 2025, exhibiting a CAGR of 7.1% during the forecast period.
Governments of various economies are taking initiatives to encourage people for adopting cycling. This is owing to the fact that governments are focusing on reducing carbon footprint in the country. For instance, Essex, a county in Southeast England, introduced The Cake Escape, which was launched in August 2013. It is a joint venture between Essex County Council and Sustrans—a UK sustainable transport charity—to increase the number of people cycling. This is expected to increase the number of people opting for cycling, thus in turn aiding in growth of the market.
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Prominent players in the cycling industry motivate and encourage cycling sport. For instance, Sinhgad bike and hike event in Pune India held on 28th April 2018, was sponsored by Giant Starkenn. Such events aim to encourage cycling as a sport and provide cycling enthusiast a platform.
Cycling wear is expensive than regular apparel. For instance, Core Athletics wearable jersey and shorts are in the range of at US$ 25- US$ 28 while Core Athletics Cycling Jersey is priced around US$ 35- US$ 45. Middle class income group consider cycling apparel as a luxury item, such consumer perception is negatively impacting the cycling wear market growth.
Key Trends and Analysis of the Cycling Wear Market:
- Among product type, headgear segment is expected to the fastest growing segment during the forecast period due to technological advancements in helmets and traffic and safety rules by government for cycling. For instance, Coros LINX cycling helmet uses bone conduction technology, which turns audio into vibration that goes straight to inner ear from the tabs of helmet strap. This lets riders safely listen to music, receive calls, and communicate with other cyclists and road users.
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Browse 108 market data tables* and 37 figures* on “Cycling Wear Market” – Global forecast to 2025.
Key Takeaways of the Market:
- Europe is expected to hold highest market share in the global cycling wear market during the forecast period. This is attributed to the presence of good cycling infrastructure and government support and initiatives to promote cycling. For instance, in April 2017, government of U.K. launched US$ 1.55 billion plan to promote cycling and walking. According to the Netherland government in June 2018, it is encouraging companies to pay people to cycle to work as part of a national initiative to promote cycling. Europe has a good cycling infrastructure as compared to many other Asian and American countries. For instance, Copenhagen has 350 km of cycle path and lanes, which are raised from the road and are safe for cycling. The Copenhagenize Design Company has re-established bicycle as a mode of transport in the cities and has implemented bicycle strategies such as chalking out safe cycle routes to schools, location-specific streetscape design and bicycle parking analyses, cycling necessities, owing to which the citizens are shifting their preference towards cycling, thus in turn is aiding growth of the market.
- Major players operating in the global cycling wear market include JRD 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, Pedla, and Lumiere Cycling.
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