- The global cycling apparels market is anticipated to record a CAGR of 4.98%.
- Popularity of bicycles is growing at a rapid pace.
- Export value of special garments for professional, sporting or other purposes around the globe reached to $8,595,844 thousand in the year 2018.
European Cyclists’ Federation (ECF) stated that global benefits of around $176.89 billion are produced by cycling per year. Moreover, out of all the benefits, longer and healthier lives resulted. The global cycling apparels market is anticipated to record a CAGR of 4.98% during the forecast period, i.e. 2020-2028.
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Statistics portray the increasing benefits provided to individuals preferring cycles as a transport vehicle. Increasing preferences for cycles are related to numerous benefits associated with cycling, such as saving on commuting costs, greater contribution toward a greener economy by promoting no pollution, long and healthy lives, all using a vehicle easily affordable by any income group.
Bicycles are a preferred choice among high-income groups due to their personal liking and preference for sustainable awareness. Popularity of bicycles is growing at a rapid pace. Moreover, several social events are held to promote bicycle riding so as to promote healthy life and lower pollution levels. The increasing popularity of bicycles is thereby expected to raise the need for apparel that helps cyclists ride in comfort. Such a factor is anticipated to drive growth of the global cycling apparels market.
The market is segmented by product type into topwear, bottomwear, gloves, accessories and others. Among these segments, topwear and bottomwear sub segments are anticipated to hold the largest market share on account of increasing preference of both the product type among cyclists as they form the basic dressing of any cycling sport. Moreover, rising exports of special garments for professionals, sporting or other purposes is also anticipated to add towards the growth of the segment in the global cycling apparels market.
International Trade Center (ITC), in one of its statistics, stated that export value of special garments for professional, sporting or other purposes around the globe reached to $8,595,844 thousand in the year 2018 from $4,412,765 thousand in the year 2010.
Geographically, the global cycling apparel market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Europe is anticipated to hold the largest market share on account of the presence of an impressive cycling culture in the region after the surge in electric and hybrid cycles, coupled with presence of infrastructure for cycling and promotion of cycling tourism by several governmental agencies.
However, concerns for increasing cases of road fatalities, especially to pedestrians and cyclists, along with increasing preference for automobiles may influence the sales of cycling garments negatively These are some of the factors expected to act as a barrier to growth of the global cycling apparels market.
This report also studies existing competitive scenarios of some of the key players of the global cycling apparels market, which includes profiling of Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, Upland Sports Group, Giant Bicycles (TPE: 9921), Rapha Racing Limited, Specialized Bicycle Components, Trek Bicycle Corporation, Velocio International, and Ornot.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report analyses the overall cycling apparels industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global cycling apparels market in the near future.