Cycling Apparel Market Analysis Covering Share, Top Participants
Posted by Arslan on December 13th, 2018
Gradually progressing cycling industry coupled with significant growth of sports apparel industry continue to remain instrumental in influencing the demand of cycling apparel worldwide. In addition, the cycling apparel market growth is pushed by the increasing preference for cycling, given the inherent health benefits of this sport. For instance, in United States demand for cycling quadrupled in the past few years, reveals World Bank analysis. Albeit wide adoption among low income groups of people, cycling has also proliferated across medium and high income classes, mainly driven by personal liking and preference for sustainable awareness. This has largely propelled the adoption of cycling apparel, in turn driving growth of cycling apparel market.
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Considering all odds, Fact.MR has drafted a new research report on cycling apparel market that projects the demand and adoption scenario of cycling apparel across major countries worldwide. The report projects that the cycling apparel market is expected to rise at a moderate pace during the period of forecast, 2018-2028. 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, Asia Pacific excluding Japan (APEJ) region is expected to reflect significant growth potential apropos of cycling apparel demand.
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.
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.
Cycling Apparel Market: Social Media Enhancing Sales
Pervasiveness of social media has largely enhanced the visibility scope for various brands and products and cycling apparel is no exception to this. Social media has proactively supported manufacturers in enhancing sales of their cycling apparel, and is trending across the entire supply chain of cycling apparel industry. With growing preference for cycling coupled with widespread marketing of cycling apparel products, it has become convenient for customers to select between brands and various cycling apparel products such as big shorts, t-shirts, gloves, jerseys and body insulators, to name a few, according to their cycling requirements. With social media boosting the cycling apparel visibility, the market for cycling apparel is projected to expand at a moderate rate during the period of forecast.
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About the AuthorArslan
Joined: December 18th, 2017
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