The global cycling apparel market is expected to garner a market value of US$ 7.67 Million in 2023 and is expected to accumulate a market value of US$ 12.49 Million by registering a CAGR of 5% in the forecast period 2023-2033. Businesses may learn more about what is already on the market, what the market anticipates, the competitive landscape, and the strategies to use to outperform competitors thanks to Fact.MR’s market research analyses and estimations.
The cycling apparel market report reveals that the sales of cycling apparel are expected to remain concentrated in developed nations of North America and Europe, while on the other hand, the Asia Pacific excluding Japan (APEJ) region is expected to reflect significant growth potential apropos of cycling apparel demand. Market growth is attributed to a rise in awareness related to health and fitness among consumers across the globe. There has been a rise in health-related problems, such as diabetes, high blood pressure, and obesity, among youth and middle-aged people.
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The large-scale Cycling Apparel Market report is distinctive due to the carelessness kept in the research methodology and the implementation of superior tools and procedures. As it covers a wider range of geographic markets, including North America, South America, and the Middle East & Africa, the regional outlook adds value to this study. This regional view will assist identify potential market share during the projected period and raise market investment based on opportunities in new markets for new goods.
Cycling Apparel Market: Growing Number of Cyclists to Augment Demand
According to World Bank analysis, around 2 billion bicycles are in use across the globe and there is a strong likelihood that the number might reach five billion mark by end of 2050. Furthermore, more than 100 million bicycles are being manufactured per year. In addition, World Bicycle Relief (WBR) has distributed more than 200,000 specially designed bicycles to healthcare workers and students across South America, Africa and Southeast Asia. This aspect has significantly fuelled the use of cycling apparel, in turn pushing the growth of the cycling apparel market during the period of forecast.
The demand for cycling apparel is on the rise due to the increasing popularity of cycling as a form of exercise and recreation. Cycling apparel is designed to provide comfort, protection, and performance for cyclists, and there are a variety of options available to suit different cycling styles and budgets. Cycling apparel can range from basic tshirts to more specialized garments made with advanced materials and features. With the rising popularity of cycling, more people are looking to purchase cycling apparel to keep them comfortable and protected while they ride. As a result, cycling apparel companies have seen an increase in sales, and many are offering a wider selection of products to meet the growing demand.
Major Companies Analysis
- Adidas Ag
- Assos of Switzerland
- Blacksheep
- Upland Sports Group(Capo)
- Giant Bicycle Inc
- Rapha racing Limited
- Specialized Bicycle Component
- Trek Bicycle Corporation
- Velocio International
- Ornot
Key Segments Profiled in the Cycling Apparel Industry Survey
- Topwear :
- Jerseys
- Jackets
- T-shirts
- Body Warmers/Insulators
- Bottomwear
- Bib Shorts
- Tights and pants
- Gloves
- Accessories
- Sales Channel :
- Sports Variety Stores
- Franchised Stores
- Sports Retail Chains
- Modern Trade Channels
- Direct-to-Customer Channel
- Third Party Online Channel
- Demographics :
- Men
- Women
- Kids
- Region :
- North America
- Latin America
- Europe
- APEJ
- Japan
- Middle East & Africa
Cycling Apparel Market: Electrification of Bicycles Opening New Frontiers
While manufacturers have been delivering cycling apparels for standard bicycle, retail shelves of sports variety stores and other retail outlets are expected to witness a new addition of cycling apparel specifically for electric bikes including quickly removable body armor parts. Moreover, according to Institute for Transportation and Development Policy (ITDC), electric bicycles accounted for a significant percentage last year and is expected to touch 11 percent by 2030 end. Albeit higher costs associated with the product, the preference for electric bicycles is expected to influence the use of cycling apparel, in turn supporting the growth of the cycling apparel market during the period of forecast.