Press release
Rising Number Of Road Accidents To Drive Market Growth: Key Factor Driving The Growth In The Motorcycle Racing Apparel Market
Motorcycle Racing Apparel
What Is the Current Motorcycle Racing Apparel Market Size and Its Estimated Growth Rate?
In recent times, there has been a robust growth in the market size of motorcycle racing apparel, which is set to expand from $2.11 billion in 2024 to $2.25 billion in 2025, marking a compound annual growth rate (CAGR) of 6.7%. This growth in the historical period is due to factors such as the burgeoning e-sports sector, the increasing popularity of motorsport culture, market globalization and expansion, rider comfort and preferences, along with the evolution of fashion and style.
In the coming years, we anticipate a robust expansion in the motorcycle racing apparel market, where its value is projected to hit $2.96 billion by 2029, marking a compound annual growth rate (CAGR) of 7.2%. This growth for the projected period is linked to developments in material science, the increasing demand for customized products, safety rules and standards, fashion and design evolutions, and economic determinants. Key trends that will dominate this forecast period encompass marketing and brand-building procedures, customization and individualization, safety measures and guard features, the aesthetics of design, and ergonomics for comfort.
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How Are Emerging Segments Shaping the Motorcycle Racing Apparel Market Landscape?
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
Subsegments:
1) By Clothing: Racing Suits, Jerseys, Pants, Base Layers
2) By Footwear: Racing Boots, Riding Shoes, Adventure Boots
3) By Protection Gear: Helmets, Gloves, Body Armor (Back Protectors, Chest Protectors), Knee and Elbow Pads
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Which Growth Factors Are Influencing Motorcycle Racing Apparel Market Expansion?
The motorcycle racing apparel market is witnessing growth due to the rise in accidents. The spike in accidents can be primarily attributed to rash driving and speeding, closely trailed by factors such as lack of safety measures, blatant disregard for traffic laws by motorists, poor street lighting, and increasing encroachment among others. It's evident that motorcycles are particularly more vulnerable to accidents as riders and their co-riders are often exposed to various weather conditions and road hazards, unlike car drivers. For example, the Transport Accident Commission, a government agency from Australia reported in 2023 that death toll due to accidents on Victorian roads hit 295, a 22.4% surge, translating to 54 additional fatalities compared to 2022. The fatal accident count stood at 261, marking an increase of 22 (9%) from the 239 reported in the previous year. Hence, the escalating rate of accidents will inevitably fuel growth in the motorcycle racing apparel market.
Who Are the Dominant Players Across Different Motorcycle Racing Apparel Market Segments?
Major companies operating in the motorcycle racing apparel market include Alpinestars, Dainese S.p.A., Fox Racing Inc., REV'IT! Sport International B.V., KLIM, Arai Helmet Ltd., Shoei Co. Ltd., AGV SpA, Bell Helmets, Fly Racing, Leatt Corporation, O'Neal USA, Troy Lee Designs, Spidi Sport S.r.l., Held GmbH, Icon Motosports, Thor MX, RST-Moto, Schuberth GmbH, Shark Helmets, Scorpion Sports Inc., LS2 Helmets, X-Lite, Macna, HJC Helmets, Suomy Helmets, Alpinestars Boots, Rukka, Bering, Arlen Ness
What Are the Latest Developing Trends in the Motorcycle Racing Apparel Market?
The motorcycle racing apparel sector is witnessing a growing trend in technological innovation. This market is seeing the use of high-tech features in racing gear, including GPS-connected devices, heads-up displays, smart sensor helmets, automatic airbags, and more, reducing accidents and fatalities during rides. Leading companies in the sector, such as Alpinestars, are emphasizing on offering technologically advanced apparel to solidify their market standing. A case in point is the launch of Tech-Air 10 by Alpinestars in April 2022, a comprehensive upper-body and hips protection system, developed alongside Alpinestars' MotoGP riders. This ground-breaking autonomous slim airbag provides protection to the rider's shoulders, chest, full back, and hips, catering to racers, track day riders, and road riders. The airbag features an active electronic system equipped with 12 sensors and an AI crash detection algorithm to control the deployment in case of a crash, thereby enhancing safety for riders.
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Which Geographic Regions Are Expected to Dominate the Motorcycle Racing Apparel Market in the Coming Years?
North America was the largest region in the motorcycle racing apparel market in 2024. The regions covered in the motorcycle racing apparel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Motorcycle Racing Apparel Market?
2. What is the CAGR expected in the Motorcycle Racing Apparel Market?
3. What Are the Key Innovations Transforming the Motorcycle Racing Apparel Industry?
4. Which Region Is Leading the Motorcycle Racing Apparel Market?
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