|09-04-2018 10:11 AM CET - Sports||
Global Motocross Gears Market Study Reveals Growth Factors and Competitive Outlook for Future
Press release from: Factmr
In a recent Fact.MR study, motocross gears market has been evaluated at US$ 1320 Mn in 2017 as per the latest market trends and the encouraging nature of motocross gears market. International Motorcycling Federation (FIM), which conducts all the motorcycle races, has launched many championships and races that play a vital role in the growth of motocross gears market. The study predicts the motocross gear market to achieve 4.9% CAGR through 2028.
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Outpacing the growth of participation in motocross races has increased the demand for customized motocross gears extensively. Leading manufacturers of motocross gears are collaborating with software developing companies for tech-enabled product innovations. Custom motocross gears are being manufactured with personalized color, text, design and logo. Customized motocross gears such as ventilation in jackets to control moisture and sweat is also gaining traction. Motocross gears manufacturers use the latest software technology to provide lightweight and comfortable motocross gears.
Boots and Helmets Market Shares are almost the same by the End of Forecast Years (2028)
Head being the most important part of the body, helmets sales are right at the top in motocross gears market. High replacement rate for the motocross gears products like helmets and guards allows motocross gears market to grow at a significant rate.
Latin America and CIS & Russia are the lucrative markets for motocross gears during forecast years. The market is set to register a good CAGR from 2018 to 2028. Motocross is gaining popularity in many parts of Latin America, which will reflect on the growth of the market. Europe and North America are expected to hold a significant market share in terms of value. In North America, motocross market is expected to surpass US$ 558 Mn in revenue. Europe holds a strong position in the market and is expected to attain a value of US$ 713 Mn by the end of the forecast period.
Chest/Roost protection in motocross gears is highly preferred in European countries due to a high number of international race participation. Belgium shows a worthwhile growth for motocross gears as a maximum number of world champions belong to the country. Use of leg guards has seen a downfall due to the latest development of armored shorts and pants.
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Armored jackets will continue to be continue to be highly utilized among protective gears in motocross gears with revenue foreseen to exceed US$ 153.2 Mn. Demand for protective gears has shown that high safety measures and rules are taken into consideration during the international grand Prix and national championships. On the contrary, the rise in the number of counterfeit products under the big brand names with economical pricing and cheap quality are key challenges for those associated with the motocross gears market that has confined their market growth.
Despite being an unorganized market, motocross market is expected to have an intense competition between the new entrants and the existing players. Key players in motocross gears market include Alpinestars Spa, O’Neal, Fly racing, LeMans Corporation, Motorsports aftermarket ltd. and Scott sports. These firms are implanting strategies, such as increase in product reach, partnerships, and acquisitions of local and emerging players to hold a strong position in the motocross gears market.
Prominent manufacturers are focusing on smart gears due to its increasing demand among the players. Helmets are being integrated with Bluetooth facilities and Wi-Fi capabilities to improve the safety and efficiency of the motocross gears. Counterfeit products are one of the major challenges for the motocross gears market. Product innovations and development through technology in motocross gears is expected to create growth opportunity for the motocross gears market.
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