Cycling Apparel Market Key Insights and Opportunities Examined by 2028
The cycling apparel market is expected to rise at a moderate pace during the period of forecast, 2018-2028.
[UKPRwire, Mon Mar 11 2019] The report studies the Cycling Apparel Market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. The intelligent report also anticipates that global cycling apparel market trends would grow at a constructive CAGR until 2028. In order to study the various trends and patterns prevailing in the concerned market, FactMR has included a new report titled “Cycling Apparel Market Key Insights and Opportunities Examined by 2028” to its wide online database including upcoming trends and growth factors.
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Gradually progressing cycling industry coupled with significant growth of sports apparel industry continue to remain instrumental in influencing the demand of cycling apparel worldwide. In addition, the cycling apparel market growth is pushed by the increasing preference for cycling, given the inherent health benefits of this sport. For instance, in United States demand for cycling quadrupled in the past few years, reveals World Bank analysis. Albeit wide adoption among low income groups of people, cycling has also proliferated across medium and high income classes, mainly driven by personal liking and preference for sustainable awareness. This has largely propelled the adoption of cycling apparel, in turn driving growth of cycling apparel market.
Considering all odds, FactMR has drafted a new research report on cycling apparel market that projects the demand and adoption scenario of cycling apparel across major countries worldwide. The report projects that the cycling apparel market is expected to rise at a moderate pace during the period of forecast, 2018-2028. The cycling apparel market report reveals that the sales of cycling apparel are expected to remain concentrated in developed nations of North America and Europe, while on the other hand, Asia Pacific excluding Japan (APEJ) region is expected to reflect significant growth potential apropos of cycling apparel demand.
In consonant with consumer demand for cycling apparel, manufacturers are introducing a wide range of novel cycling apparel to gain customer loyalty towards the respective cycling apparel brand as well as higher visibility among untapped customer base. In addition, manufacturers of cycling apparel are adopting omnichannel approach for distribution of cycling apparel as they touch base with dealers, vendors and third party suppliers to provide a seamless experience to customers preferring cycling apparel.
With growing concerns regarding environment protection against greenhouse emissions, EPA has been striving to regulate the carbon dioxide emissions from vehicles in a bid to improve environment health. That said, cycling being a socially, environmentally and economically sustainable activity, it promotes environment health along with physical health. Albeit being a feasible means of transport, accidents are prone to occur that can induce a level of reluctance among cyclists. This has promoted cycling safety by mandating use of gears such as cycling apparel. With cycling gaining higher significance as a sustainable transport mode, the demand for cycling apparel is likely to witness steady rise during the period of forecast, thus fuelling growth of cycling apparel market.
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Albeit at a moderate pace, the demand for cycling apparel across regions in the globe has witnessed remarkable growth underpinned by various benefits including comfort, reducing air resistance, increase breathability and wind block. That said, European countries have reflected impressive growth in cycling culture that has further surged with introduction of electric and hybrid cycles. World Bank reveals that around 60 percent of population in Finland use bicycles while Netherlands holds the top position with high number of bicycles per capita. Moreover, 655,000 people are involved in the cycling industry representing higher employment rate than in quarrying and mining. These factors have influenced the use of cycles, in turn raising the demand for various cycling apparel such as tops and bottoms, consequently pushing the growth of cycling apparel market.
Following the suit, North America, particularly the United States have showcased high inclination towards use of cycling apparel on the back increasing cycling activities in the country. According to World Bank analysis, United States’ inclination towards cycling has been marked by the presence of several international and national cycling tournaments. Moreover, with a two-fold rise in cyclist count in Canada and United States in the past two decades, demand for cycling apparel such as tops and bottoms including shorts, tights and pants, jerseys, jackets and t-shirts, is likely to surge in the forthcoming years strongly impelled by growing GHDI (Gross Household Disposable Income) of these countries.
The cycling apparel market is highly unorganized as market comprises a large percentage of small players spread worldwide. With growing popularity of cycling, manufacturers of cycling apparel competing in the international market are focusing on collaborative efforts with a view to organize the supply chain of the cycling apparel industry as well as advancements in cycling apparel that enhance comfort and usability. Ford has introduced cycling jacket that is a smart cycling apparel which has sleeves that light up to guide the rider on road. Such design innovations are expected to spur the demand for cycling apparel in turn favoring momentum of cycling apparel market during the forecast period.
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