Mountain Bike Footwear and Socks Market Size, Key Developments and Growth Factor

Posted by Pradeep Zende on January 21st, 2020

The popularity of digital and social media marketing has increased manifold in recent years. In addition, the age and gender targeted marketing options offered by major social media platforms made it easier for the companies to connect with the potential customers which has boosted the growth for Mountain Bike Footwear and Socks Market.

Furthermore, the technological advancement in mountain biking equipment and accessories including footwear and shoes has provided a lot of comfort and convenience to participants. Moreover, growing number of women participations specifically in North America and Europe region is accelerating the demand for mountain bike footwear and socks.

However, athletic shoes and socks market is highly consolidated in North America accounting for more than 70% of the market whereas global market is moderately consolidated. Smaller, specialized players have limited market share. The major players have well established brands, enjoy high brand recall among consumers as well as have large base of loyal consumers. This is a major barrier for new entrants in the market. Nevertheless, all these factors are boosting the global mountain bike footwear and socks market size to grow at the CAGR of 5.57% during the forecast period of 2017-2024.

Leading Key Players:

• Shimano, Inc. (Japan)
• Five Ten Footwear Company (U.S.)
• Diadora Sports S.r.l (Itlay)
• Trek Bicycle Corporation (U.S.)
• Louis Garneau Sports (Canada)
• Giro (U.S.)
• Cannondale (U.S.)
• Mavik (France)
• Fizik (U.S.)
• Northwave (Itlay)

Among the type, mountain bike footwear segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register a healthy CAGR of 5.57% during the given period due to increase in the demand of bike footwear especially for females. Customers are also inclined to adopt specific shoe for the mountain biking purposes. Also, increasing youth population in the developing economies is also propelling the demand of mountain bike footwear in the review period. Among the end-user of mountain bike footwear and socks market, male segment accounts for 63% followed by female accounting for 34% of the global mountain bike footwear and socks market. The segment is projected to register a healthy CAGR of 5.05% during the forecast period 2017-2024.

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Key players in the mountain bike footwear and socks market are inclined towards partnership with different companies and events for product promotions and expanding their geographical presence. Additionally, the companies are inclined towards new product launch and strengthening their product portfolio. The companies are highly focusing on partnership with various events to pave a sustainable growth and expand its business through a long-term strategic move.

The global mountain bike footwear and socks market is segmented into North America, South America Europe, Asia Pacific, and rest of the world (ROW). Among these, North American region is dominating the market over the forecast period. The market is projected to grow at a CAGR of 5.46% during the review period. This is attributed to high demand of mountain bike footwear and socks in this region. Among the North American countries, the U.S. is majorly driving the market of mountain bike footwear and socks market in this region. However, Asia Pacific region is expected to grow with a CAGR of 6.30% during the review period. In Asia Pacific region, China is expected to hold 33% market share in the year 2017.