Wilmington, Delaware, United States, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global driving apparel market is projected to flourish at a CAGR of 5.4% from 2021 to 2031. As per the report published by TMR, a valuation of US$ 32.3 billion is anticipated for the market in 2031. As of 2023, the demand for driving apparel is expected to close at US$ 20.2 billion.
Growing awareness about road safety and the importance of protective gear among motorcyclists and drivers has increased the demand for specialized apparel. Materials technology advancements, such as lightweight, durable, and breathable fabrics, are driving the market. Materials like Kevlar, Gore-Tex, and high-performance synthetic fibers are gaining popularity for their protective properties.
The convergence of style and functionality in driving apparel has widened the market. Fashionable yet protective gear is becoming more appealing to consumers. The popularity of motorsports, adventure riding, and off-road activities has increased the demand for specialized driving apparel tailored for these activities.
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Key players operating in the global driving apparel market are
- PUMA SE
- Adidas AG
- Alpinestars S.p.A.
- Dainese S.p.A.
- Fox Head, Inc.
- Scott Sports SA
- Thormx
- Baoxiniao Holding Co Ltd.
- Under Armour, Inc.
- LeMans Corporation
- Nike Inc., among others
The expansion of e-commerce platforms has made it easier for consumers to access a wide variety of driving apparel, boosting market accessibility and sales. As disposable income rises, consumers are more willing to invest in high-quality, premium driving gear that offers better protection and durability.
Growing consumer preference for better quality products and rising disposable income of families are encouraging customers to buy driving apparel products. Online retailing is also providing an impetus to buying decisions, thus impacting the market for driving apparel. Integration of technology in driving apparel, such as smart wearables for monitoring vital signs or incorporating airbag systems within the gear, is driving market growth through innovation.
Other important factors supporting the growth of the global driving apparel market include a widening consumer base due to a rise in disposable incomes and growth in urbanization trends in the Middle East, South America, and Asia Pacific.
Key Takeaways from the Market Study
- As of 2022, the driving apparel market was valued at US$ 19.2 billion.
- In terms of product type, the protective gear segment held a prominent share of the global driving apparel market in 2021.
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Driving Apparel Market: Key Trends and Opportunistic Frontiers
- The trend toward customizable and personalized driving apparel, allowing consumers to tailor gear to their preferences, has contributed to market growth.
- The focus on eco-friendly and sustainable materials in driving apparel is gaining traction, appealing to environmentally conscious consumers.
- Technological Advancements: Integration of technology in driving apparel, such as smart wearables for monitoring vital signs or incorporating airbag systems within the gear, is driving market growth through innovation.
Driving Apparel Market – Regional Analysis
- North America is a significant market driven by a strong motorcycle culture, varying state regulations for safety gear, and a growing interest in motorsports. Canada is similar to the United States, with a focus on safety gear for motorcyclists, influenced by varying provincial regulations.
- Europe is expected to account for significant share of the driving apparel market. Countries like Germany, France, Italy, and the UK have a mature market with a strong emphasis on safety standards, fashion-forward designs, and a thriving motorsport culture. An emerging market with increasing interest in driving gear due to rising disposable income and growing enthusiasm for motorsports.
Competitive Landscape
The global driving apparel market is fragmented due to several driving apparel players. Competition is expected to intensify in the next few years due to the entry of several local players.
Key Developments in Driving Apparel Market
- Alpinestars: Known for its high-performance motorcycle gear, Alpinestars is a leader in racing and protective apparel. They continuously innovate with advanced materials and safety technologies.
- Dainese: Renowned for its motorcycle racing suits and protective gear, Dainese is recognized for its cutting-edge designs and emphasis on safety through technological advancements.
- REV'IT!: Specializing in motorcycle and adventure gear, REV'IT! focuses on functional designs with a fashion-forward approach, combining style with high levels of protection.
- Aerostich: Known for its durable and functional riding gear, especially in the niche market of high-quality textile suits for adventure and touring riders.
Driving Apparel Market – Key Segments
Product
- Clothing
- Footwear
- Protection Gear
Material
- Leather
- Synthetic
- Natural Fiber
Vehicle
- Two Wheeler
- Four Wheeler
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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