by The Cycling Wear market is estimated to be valued at US$ 4889.04 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cycling wear refers to the apparel and accessories worn by cyclists for protection, comfort, and performance. It includes jerseys, bib shorts, jackets, gloves, pads, and helmets. Jerseys are worn to wick sweat away from the body and provide breathability. Bib shorts have shoulder straps and a pad in the seat area for comfort during long rides. Jackets are essential for protection against wind and rain. Gloves improve grip and padding reduce hand fatigue. Helmets and pads protect the head and body from crashes.
Market Dynamics:
The increasing popularity of cycling as a fitness activity and means of transportation is expected to drive the cycling wear market growth over the forecast period. According to a study, over 50 million Americans use bikes each year, with the number of bike commuters doubling between 2000-2017. Moreover, rising awareness about health benefits of cycling such as reduced stress, lower risk of cardiovascular diseases, and weight management is also propelling market expansion. Manufacturers are introducing innovative products made of lightweight, breathable, and stretchable fabrics that enhance performance and comfort. The growing trend of customized and personalized cycling apparel as per body type, preference, and style is another factor fueling the demand. However, availability of low-cost counterfeit products poses a major challenge.
SWOT Analysis
Strength: Cycling wear provides protection, safety, and comfort to cyclists. The material used makes the clothing breathable and allows sweat to evaporate quickly. Many brands provide high quality and durable cycling wear at affordable prices.
Weakness: Cycling clothing is designed for a specific purpose and have limited usage. The tight fitting nature limits mobility when not cycling. Dependence on season affects sales as most rides occur during warm weather.
Opportunity: Rising health consciousness and popularity of cycling as an exercise and leisure activity is increasing the demand for specialist cycling wear. Technological advancement in fabrics allows features like moisture wicking, UV protection etc.
Threats: Availability of low qualitycounterfeit products can impact brand sales. Economic slowdowncan reduce discretionary spending on sporting goods.
Key Takeaways
The global Cycling Wear Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing popularity of cycling as a fitness and recreational activity.
Regional analysis:
Europe currently dominates the cycling wear market with over 35% share due to favorable cycling infrastructure and government initiatives to promote cycling. However, Asia Pacific is expected to grow at the fastest rate owing to rising health awareness, increasing disposable income and promotion of cycling by local authorities in countries like China and India.
Key players:
Key players operating in the cycling wear market are Lumiere Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., Assos Of Switzerland Sa, Cuore Of Switzerland Inc., Endura Limited, Tewsn Cycling Gear Limited, Isadore Apparel, Rapha Racing Limited, 2xu Pty Ltd., Maap, Attaquer Pty Ltd., Blacksheep, Pas Normal Studios, Santini Maglificio Sportivo S.R.L. P.I. – C.F., Capo, and Pedla. These players are focusing on expanding their product lines and global footprint through strategic partnerships and mergers & acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
