Dublin, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The "Bicycle Apparel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global bicycle apparel market is gearing up for remarkable growth in the coming years, driven by a surge in urban cycling, benevolent government initiatives, and a growing number of cycling enthusiasts. The bicycle apparel market is forecast to generate a revenue of US$ 4.2 billion in 2024, with projections indicating a significant rise. The bicycle apparel market is on an upward trajectory 2024 to 2031. This surge is expected to propel the global market to a value of US$ 6.8 billion by 2031.
Changing Lifestyles Driving Demand
The increasing adoption of cycling as a lifestyle choice is a primary driver behind the growing demand for bicycle apparel. Consumers are seeking lighter, more comfortable riding gear, including cycling tops, cycling shorts, and water-resistant bicycle gloves. Notably, bicycle clothing currently constitutes 3% to 4% of the total market for sports gear.
Government Support and Awareness
Benevolent government initiatives promoting bicycle-friendly environments and public awareness campaigns extolling the health benefits of cycling have encouraged people to embrace urban cycling. The United Nations' designation of June 3rd as 'World Bicycle Day' in 2018 further highlights the global importance of cycling. Companies in the cycling apparel industry have capitalized on such events to promote their products.
Health Benefits and Customization
Cycling is increasingly recognized for its health benefits, including reduced risk of life-threatening illnesses and enhanced physical fitness. Customizable bicycle clothing not only provides comfort but also improves cycling efficiency, driving market expansion.
Electric Bicycles Fueling Growth
The rise in the use of electric bicycles for transportation, driven by environmental concerns, has boosted demand for bicycle apparel. E-bikes, which enhance paddling speed and reduce strain, have become popular choices for commuting and recreational rides.
Regional Insights:
- United States: The U.S. is witnessing a surge in outdoor recreational activities, driving the demand for bicycle clothing. Cyclists from diverse income groups are contributing to the market's growth.
- United Kingdom: The UK's industrial sector growth has led to the emergence of new companies producing innovative cycling apparel. These companies are adopting omnichannel distribution approaches to cater to a global audience.
- India: India's rising purchasing power and growing interest in smart technology items have fueled sales of cycling clothing. Outdoor recreational sports activities are further promoting the adoption of lightweight and performance-enhancing cycling apparel.
- China: China's industrial growth and increasing consumer awareness about environmentally friendly transportation have created opportunities for the bicycle apparel market to expand.
Competitive Landscape:
Market participants are diversifying their product portfolios and focusing on creative advertising, including celebrity endorsements, to capture the attention of buyers.
Key Companies Profiled:
- Shimano, Inc.
- Accell Group N.V.
- Campagnolo S.R.L.
- Garmin Ltd.
- Giant Manufacturing Co., Ltd
- Merida Industry Co. Ltd
- Samchuly Bicycle Co.
- FALKE KGaA
- Endura Ltd
- DT Swiss AG
- Rental Limited
- Head N.V.
- New Balance Athletics Inc.
- 2XU
- Others
Key Segments Covered in Bicycle Apparel Industry Research
By Product Type
- Cycling Tops
- Jerseys
- Jackets
- T-shirts
- Body Insulators/ Warmers
- Cycling Bottoms
- Big Shorts
- Tights and Pants
- Cycling Gloves
- Cycling Accessories
By End User
- Men
- Women
- Kids
By Sales Channel
- Wholesalers/ Distributors
- Supermarkets/ Hypermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Other Sales Channels
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
For more information about this report visit https://www.researchandmarkets.com/r/ur442q
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