Press release
Motorcycle Racing Apparel Market Estimated Growth Curve, Key Market Trends, Overview 2024-2033
Motorcycle Racing Apparel Market
The Business Research Company offers in-depth market insights through Motorcycle Racing Apparel Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The motorcycle racing apparel market size has grown strongly in recent years. It will grow from $1.99 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to emergence of e-sports, rise of motorsport culture, globalization and market expansion, rider preferences and comfort, fashion and style evolution.
The motorcycle racing apparel market size is expected to see strong growth in the next few years. It will grow to $2.73 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to innovations in material science, demand for customization, safety regulations and standards, fashion and design trends, economic factors. Major trends in the forecast period include marketing and branding strategies, customization and personalization, safety and protection, aesthetic and design trends, ergonomics and comfort.
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Market Segmentation:
The motorcycle racing apparel market covered in this report is segmented -
1) By Type: Clothing, Footwear, Protection Gear
2) By Distribution Channel: Non-Store, Store Built
3) By Application: Competitive Race, Recreation
Major Driver - Rising Number Of Road Accidents To Drive Market Growth
The increasing number of accidents is driving the growth of the motorcycle racing apparel market. The number of accidents is increasing mainly due to speeding/reckless driving followed by other reasons such as the absence of safe procedures, open violation of the traffic rules by the drivers, poor road lighting increasing encroachment, and others. Motorcycles are more prone to accidents as motorcyclists and their passengers are more exposed to weather and road risks than drivers in enclosed automobiles. This rise in the number of accidents will create a huge demand for motorcycle racing apparel and gears that act as a protective shield to ensure the safety of riders and provide comfort during the ride. For instance, in December 2022, according to the Ministry of Road Transport and Highways, an India-based government department, in 2021, States/UTs in India reported a total of 153,972 road accident fatalities, surpassing the 2020 figure of 131,714. Therefore, the rising number of accidents will drive the growth of the motorcycle racing apparel market.
Competitive Landscape:
Major companies operating in the motorcycle racing apparel market report are Yamaha Motor Corporation, Fox Head Inc., Ferrari S.p.A, Dainese SpA, BMW SA, Alpinestars SpA, Scott Sports SA, FLY Racing Jackets, REV'IT!, OMP Racing S.p.A., Troy Lee Designs, Gerbing Heated, Klim Technical Riding Gear, Tucano Urbano, SIDI, Furygan, Vardenchi, Joe Rocket Jackets, ICON Motosports, ThorMX, Blackchrome Sportswear, FirstGear, AGVSport, HKM Sports Equipment GmbH, RST, Kushitani Hamamatsu Ride, Royal Enfield Gear, Spartan Pro Gear Co, Rynox Gears India Pvt Ltd., Helite, ScorpionEXO
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Top Trend - Strategic Partnerships Transforming The Motorcycle Racing Apparel Market
Major companies operating in the motorcycle racing apparel market are forming partnerships to develop new products and strengthen their positions in the market. Partnerships and collaborations in the motorcycle racing apparel market enhance product innovation, credibility, and market reach by leveraging the expertise of multiple entities, fostering the development of specialized gear and expanding the customer base. For instance, in May 2022, Royal Enfield, an India-based motorcycle company, partnered with Alpinestars, an Italy-based motorsport company, to launch a new range of purpose-built CE-certified riding gear. This collection includes high-quality riding jackets, gloves, and trousers featuring Alpinestars patented Drystar technology, known for its waterproof and breathable properties. The partnership aims to provide Indian riders with enhanced safety, performance, and comfort, combining the expertise of both Royal Enfield and Alpinestars in creating world-class riding apparel.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Motorcycle Racing Apparel Market Characteristics
3. Motorcycle Racing Apparel Market Trends And Strategies
4. Motorcycle Racing Apparel Market - Macro Economic Scenario
5. Motorcycle Racing Apparel Market Size And Growth
…..
27. Motorcycle Racing Apparel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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