According to a new market report published by Industry Probe, the global driving apparel market is expected to reach US$ 23.97 Bn by 2027 and expand at a CAGR of ~5.4% from 2020 to 2027.
New York, NY -- (ReleaseWire) -- 07/08/2020 --According to a new market report published by Industry Probe, titled 'Driving Apparel Market (Product Type: Clothing [Jackets, Trousers, Suits, and Others], Footwear [Boots, Shoes, and Others], Protection Gear [Helmets, Armor, Gloves, Knee Protection, Elbow Protection, and Others], and Other Accessories [Socks, Scarves, and Others]; Material: Leather, Synthetic, Natural Fiber, and Others; Vehicle Type: Two Wheeler and Four Wheeler; End User: Men and Women; and Distribution Channel: Online [Company-owned Website and e-Commerce Website] and Offline [Hypermarkets & Supermarkets, Specialty Stores, and Brand Stores]) – Global Industry Trends and Forecast, 2020–2027,' the global driving apparel market is expected to reach US$ 23.97 Bn by 2027 and expand at a CAGR of ~5.4% from 2020 to 2027.
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As per the report, driving apparels have gained popularity over the years, owing to the rising consciousness about safety measures on roads. The report states that the protection accessories, such as helmets, kneecaps, elbow caps, armor, and spine guard, among others, play an important role in improving safety, and are specifically designed with armored protection to prevent injury. Globally, two-wheeler death rates are rising consistently. This has increased the adoption of helmets worldwide. Introduction of advanced materials, such as fiberglass reinforced plastics and carbon fiber has made helmets light in weight and useful, says the report. Moreover, manufacturers are continuously focused on integration of electronics in protection gear and development of helmets with head up displays, which is likely to increase the demand for these accessories during the forecast period. Rise in motorcycle sales is fueling the demand for protection gear, which include, helmets, armor, gloves, kneecaps, elbow caps, and other accessories. Regulatory authorities of countries are enforcing stringent traffic safety regulations regarding the usage of protection clothing and other accessories such as helmets and jackets. This has led to a rise in adoption of protection gear and other safety accessories to prevent fatal injuries, as per Industry Probe analysts.
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The report has segregated the driving apparel market in terms of product type, material, vehicle type, end user and region. In terms of product type, protecting gear segment accounted for a major share of the driving apparel market, in terms of value, in 2018. In terms of material, synthetic material segment dominated the driving apparel market, in terms of value and volume, in 2017. Synthetic products are available at low prices as compared to other materials, due to easy availability of raw materials and low manufacturing cost. Based on vehicle type, the two-wheeler segment dominated the driving apparel market in 2017. With the increasing number of motorcycle users around the world, the driving apparel market is expected to witness significant growth during the forecast period. Based on end user, the men segment dominates the driving apparel market. In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping. However, the online segment is expected to expand at a significant rate during the forecast period. In terms of region, Asia Pacific holds a major share of the global driving apparel market, followed by Europe.
The driving apparel market is dominated by several players who are focused on the development of new products to cater to the rising demand for driving gear in the global market. The report includes the below mentioned pointers of major players operating in the driving apparel market:
- Competition Matrix
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Business Strategies/Recent Developments
- Technological advancements
- Key mergers & acquisitions
- Expansion strategies
- Company Financials
Some of the major players operating in the driving apparel market include PUMA SE, Fox Head, Inc., Adidas AG, Scott Sports SA, Under Armour, Inc., ThorMX, Alpinestars S.p.A, OMP Racing S.P.A, Dainese S.p.A, and Leatt Corporation.
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About Industry Probe
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprise syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring true & actionable insights into our clients' business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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