Mountain Bike Footwear Market Trends, Key Players and Forecast 2024
Posted by Pradeep Zende on March 23rd, 2020
Mountain bike footwear are specially designed shoes and socks for mountain biking. Mountain bike footwear is designed to pair with specific type of pedals used in mountain bikes, offer foot protection, and have stiff soles that enhance the power transfer and reduce fatigue. There are mainly two types of mountain bike footwear, one designed for use with flat pedals and the other to use with clip less pedals. Also, mountain bike footwear provides various advantages of pedaling, control, safety and specificity.
The Global Mountain Bike Footwear Market is segmented by type, end-user, distribution channel and region.
Top Key Players:
This report includes a study of strategies used in the market, mergers, and acquisitions and multiple product launches by mountain bike footwear and socks market players. It further includes product portfolios and developments of leading players, which includes
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 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 where as 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 to grow at the CAGR of 5.57% during the forecast period of 2017-2024.
Access Report Details @ https://www.marketresearchfuture.com/reports/mountain-bike-footwear-socks-market-4886
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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About the AuthorPradeep Zende
Joined: February 12th, 2019
Articles Posted: 396
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