Driving Apparel Market to Reach a Valuation of US$ 10 Bn by 2027: Industry Probe

January 03, 2020, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Driving Apparel Market (Product Type: Clothing [Jackets, Trousers, Suits, and Others], Footwear [Boots, Shoes, and Others], Protection Gear [Helmets, Armor, Gloves, Knee Protection, Elbow Protection, and Others], and Other Accessories [Socks, Scarves, and Others]; Material: Leather, Synthetic, Natural Fiber, and Others; Vehicle Type: Two Wheeler and Four Wheeler; End User: Men and Women;  and Distribution Channel: Online [Company-owned Website and e-Commerce Website] and Offline [Hypermarkets & Supermarkets, Specialty Stores, and Brand Stores])  – Global Industry Trends and Forecast, 2020–2027,’ the global driving apparel market is expected to reach US$ 23.97 Bn by 2027 and expand at a CAGR of ~5.4% from 2019 to 2027.

Driving Apparel Market: Overview

  • The global driving apparel market is expected to reach US$ 97 Bn by 2027 and expand at a CAGR of ~5.4% from 2019 to 2027
  • Driving apparels have gained popularity over the years, owing to the rising consciousness about safety measures on roads
  • Protection accessories, such as helmets, knee caps, elbow caps, armor, and spine guard, among others, play an important role in improving safety and are specifically designed with armored protection to prevent injury

Browse the full report at http://www.industryprobe.com/

Driving Apparel Market: Driving Factors

  • Globally, two-wheeler death rates are rising consistently. This has increased the adoption of helmets worldwide.
  • The introduction of advanced materials, such as fiberglass reinforced plastics and carbon fiber has made helmets light in weight and useful. Moreover, manufacturers are continuously focused on the integration of electronics in protection gear and development of helmets with head-up displays, which is likely to increase the demand for these accessories during the forecast period.
  • The rise in motorcycle sales is fueling the demand for protection gear, which includes, helmets, armor, gloves, knee caps, elbow caps, and other accessories.
  • Regulatory authorities of countries are enforcing stringent traffic safety regulations regarding the usage of protective clothing and other accessories such as helmets and jackets. This has led to a rise in the adoption of protection gear and other safety accessories to prevent fatal injuries.

 

Driving Apparel Market: A Key Challenge

  • Road traffic awareness among drivers is still lacking. Thus, the lack of road safety awareness in developing and low-income countries is a major factor hampering the adoption of driving protection gear products.

Driving Apparel Market: Segmentation

  • In terms of product type, protecting gear segment accounted for a major share of the driving apparel market, in terms of value, in 2018
  • In terms of material, the synthetic material segment dominated the driving apparel market, in terms of value and volume, in 2017. Synthetic products are available at low prices as compared to other materials, due to the easy availability of raw materials and low manufacturing costs.
  • Based on vehicle type, the two-wheeler segment dominated the driving apparel market in 2017. With the increasing number of motorcycle users around the world, the driving apparel market is expected to witness significant growth in the near future.
  • Based on end-user, the men segment dominates the driving apparel market
  • In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping. However, the online segment is expected to expand at a significant rate during the forecast period.
  • In terms of region, Asia Pacific holds a major share of the global driving apparel market, followed by Europe

Driving Apparel Market: Competition Landscape

  • The driving apparel market is dominated by several players who are focused on the development of new products to cater to the rising demand for driving gear in the global market
  • The report includes the below-mentioned pointers of major players operating in the driving apparel market:
    • Competition Matrix
    • Company Overview
    • Product Profiling
    • Market Share Analysis (2018)
    • Product Innovation
    • Business Strategies/Recent Developments
      • Technological advancements
      • Key Mergers & acquisitions
      • Expansion strategies
    • Company Financials

Major Players Covered under the Scope:

  • PUMA SE
  • Adidas AG
  • Under Armour, Inc.
  • Alpinestars S.p.A
  • Dainese S.p.A
  • Fox Head, Inc.
  • Scott Sports SA
  • ThorMX
  • OMP Racing S.P.A
  • Leatt Corporation

Market Research Objective & Taxonomy

Driving Apparel Market – Global Industry Trends and Forecast, 2019–2027

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