Press release
Global Cycling Wear Market Expected to Grow at a 5.36% CAGR, Reaching Significant Value by 2030
Cycling Wear Market
In 2023, the Cycling Wear Market was valued at USD 7.38 billion, and it's gearing up for significant growth with a projected CAGR of 5.36% through the forecast period. From performance-enhancing apparel to safety-focused accessories, the market caters to cyclists worldwide seeking comfort, style, and functionality.
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Defining Cycling Wear
Cycling wear encompasses a range of apparel and accessories designed to optimize performance and comfort during rides. From form-fitting jerseys and breathable shorts to protective gloves and high-tech helmets, these products are crafted to withstand the rigors of cycling while enhancing the rider's experience.
Driving Forces Behind the Market Surge
The rise in chronic diseases like hypertension and obesity, coupled with a global shift towards healthier lifestyles, has spurred an increase in cycling. Doctors and health coaches alike recommend cycling as an excellent form of exercise, fueling the demand for specialized cycling wear that supports physical activity.
Embracing Safety and Performance
Safety is paramount in cycling, and the market reflects this with innovations such as highly visible jackets that reduce accident rates significantly. Countries like Denmark have seen a 47% decrease in accidents among cyclists wearing safety vests, highlighting the importance of visibility in cycling wear.
Global Trends and Regional Insights
Europe leads the market with a 34% share, driven by a robust cycling culture and increasing adoption of electric bicycles. In countries like Finland, where bicycles constitute a significant portion of daily travel, the demand for high-quality cycling wear is on the rise.
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Innovative Materials and Technologies
Manufacturers are investing in advanced fabrics that enhance performance by wicking away moisture and providing comfort in various climates. This focus on research and development ensures that modern cycling wear meets the demands of diverse environments and weather conditions.
Market Segmentation and Growth Prospects
The cycling wear apparel segment dominates the market, capturing 70% of the share in 2023. This segment includes a wide array of products designed for comfort and durability, essential for both casual cyclists and competitive athletes.
By Product
Cycle Wear Apparel
Cycle Wear Accessories
By Distribution Channel
Hypermarket and Supermarket
Specialty Stores
E-Commerce
Others
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Challenges and Opportunities Ahead
While the market shows promise, challenges such as high product costs and competition from electric bicycles pose potential hurdles. However, rising consumer awareness about health benefits and environmental concerns continue to drive market growth.
Key Players:
LUMIERE CYCLING (Australia),
ASSOS of Switzerland GmbH (Switzerland)
Giro (The U.S)
Champion System International (Hong Kong)
Castelli Cycling (Italy)
United Apparel Solution Ltd (Hong Kong)
Endura Limited (Italy)
Rapha Performance Roadwear (UK)
2XU Pty. Ltd (Australia)
Isadore apparel (Slovakia)
Tewsn Cycling Gear Limited (China)
Future Outlook
Looking ahead, the global cycling wear market is poised for expansion, fueled by increasing participation in cycling events, growing urban populations opting for bicycles as a sustainable mode of transport, and ongoing advancements in cycling gear technology.
Conclusion
In conclusion, the cycling wear market represents more than just apparel-it's a testament to the evolving lifestyles and preferences of global consumers. As cycling gains momentum as a favored activity for fitness and leisure, the demand for innovative, high-performance cycling wear is set to grow, catering to a diverse and expanding global market.
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segments with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. We provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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