Global Cycling Wear Market is Estimated To Witness High Growth Owing To Increasing Popularity of Cycling

 

The global Cycling Wear Market is estimated to be valued at US$ 3,743.8 million in 2021 and is expected to exhibit a CAGR of 6.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Cycling wear refers to specialized clothing and accessories designed for cyclists. These include jerseys, bib shorts, jackets, gloves, helmets, shoes, and socks, among others. Cycling wear offers numerous advantages such as moisture-wicking properties, durability, breathability, and aerodynamic designs, which enhance the performance and comfort of cyclists.

With a growing focus on fitness and increasing participation in cycling as a recreational and professional sport, the demand for cycling wear has witnessed significant growth. The need for specialized clothing and accessories that provide comfort, protection, and performance benefits while cycling has fueled the market growth.

B) Market Key Trends:

One key trend in the global cycling wear market is the increasing popularity of cycling as a sustainable and eco-friendly mode of transportation. With rising environmental concerns and efforts to reduce carbon emissions, more people are adopting cycling as an alternative to cars or public transport. This trend has led to a surge in demand for cycling wear as individuals seek functional and comfortable clothing to enhance their cycling experience.

For example, cities around the world have implemented bike-sharing programs and developed cycling infrastructure to promote cycling as a means of transportation. This has increased the number of cyclists on the road, driving the demand for cycling wear. Furthermore, advancements in fabric technologies have improved the performance and comfort of cycling wear, further attracting consumers.

C) PEST Analysis:

Political: Governments worldwide are promoting cycling as a sustainable mode of transportation, offering incentives such as tax breaks for cyclists and investing in cycling infrastructure.

Economic: The increasing popularity of cycling has boosted the sales of cycling wear, driving the revenue growth of the market. Furthermore, the rise in disposable incomes and the growing fitness-conscious population have contributed to market expansion.

Social: The growing health and wellness trend, coupled with the desire to reduce carbon emissions, has led to an increase in the number of cyclists globally. This social shift has created a favorable environment for the cycling wear market.

Technological: Advancements in fabric technologies have led to the development of high-performance cycling wear with improved breathability, moisture-wicking properties, and aerodynamics. Furthermore, the integration of smart technologies such as sensors and wearable devices into cycling wear has enhanced the overall cycling experience.

D) Key Takeaways:

1. The global Cycling Wear Market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing popularity of cycling as a sustainable mode of transportation and sport.

2. In terms of regional analysis, Europe is anticipated to be the fastest-growing and dominating region in the cycling wear market. The region's strong cycling culture, supportive government initiatives, and well-established cycling infrastructure contribute to its market dominance.

3. Key players operating in the global cycling wear market include 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.

In conclusion, the global cycling wear market is witnessing significant growth due to the increasing popularity of cycling as a sustainable and eco-friendly mode of transportation. With advancements in fabric technologies and growing fitness-consciousness, the demand for specialized clothing and accessories for cyclists is expected to rise. Europe is projected to be the dominant region in the market, supported by its strong cycling culture and government initiatives. Key players in the market are focused on innovation and product development to cater to the diverse demands of cyclists worldwide.