by The global Cycling Wear market is estimated to be valued at US$ 3,743.8 million in 2021 and is expected to exhibit a CAGR of 6.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Cycling Wear refers to the specialized clothing worn by cyclists to provide comfort, protection, and aerodynamic benefits during cycling activities. These garments are designed to enhance performance and improve safety for cyclists. The market for Cycling Wear includes a wide range of products such as cycling jerseys, bib shorts, tights, jackets, gloves, helmets, and shoes, among others. Cycling Wear is used by both professional cyclists and enthusiasts who engage in cycling as a recreational activity.
B) Market Dynamics:
The global Cycling Wear market is driven by two key factors – increasing participation in cycling and growing demand for comfortable cycling apparel. Firstly, the rising popularity of cycling as a sport and recreational activity has led to a significant increase in the number of cyclists worldwide. Factors such as increasing awareness about health and fitness, growing preference for eco-friendly transportation alternatives, and government initiatives promoting cycling infrastructure have contributed to the surge in cycling participation. This, in turn, has fueled the demand for appropriate clothing that offers comfort, performance, and safety.
Secondly, the demand for comfortable cycling apparel is on the rise due to the increasing focus on performance enhancement and injury prevention. Cycling Wear manufacturers are incorporating advanced materials and technologies in their products to provide moisture-wicking properties, UV protection, improved breathability, and aerodynamic designs. For instance, the use of lightweight and stretchable fabrics such as polyester and spandex blends ensures a snug fit and allows for freedom of movement. These advancements in fabric technology and design have significantly improved the comfort and performance of cycling apparel, driving their adoption among both professional and amateur cyclists.
C) Segment Analysis:
The Cycling Wear Market can be segmented based on product type, gender, distribution channel, and geography. Among the product types, the jerseys segment is dominating the market due to their widespread usage by cyclists of all levels. Jerseys are essential for moisture management, temperature regulation, and aerodynamics during cycling. They are available in various designs, colors, and materials to cater to different cycling disciplines and preferences.
D) PEST Analysis:
Political: The government initiatives promoting cycling infrastructure and encouraging participation in cycling are positively impacting the Cycling Wear market. Government support in the form of funding for cycling tracks, bike-sharing programs, and public awareness campaigns is creating growth opportunities for manufacturers.
Economic: The economic factors such as increasing disposable income and urbanization are supporting the growth of the Cycling Wear market. As disposable income rises, individuals are more willing to invest in high-quality cycling apparel for a better experience.
Social: The increasing awareness about health and fitness, environmental concerns, and a growing interest in outdoor activities have contributed to the rising popularity of cycling. These social factors drive the demand for cycling wear among fitness enthusiasts and eco-conscious consumers.
Technological: Advancements in fabric technology, manufacturing processes, and design innovations have significantly improved the performance and comfort of cycling wear. Manufacturers are using cutting-edge materials, such as moisture-wicking fabrics, to enhance breathability and quick-drying capabilities. Technological advancements also support better aerodynamics and safety features in cycling apparel.
Key Takeaways:
– The global Cycling Wear market is expected to witness high growth, exhibiting a CAGR of 6.9% over the forecast period, due to increasing participation in cycling and growing demand for comfortable cycling apparel.
– In terms of regional analysis, North America is the fastest-growing and dominating region in the Cycling Wear market. The region has a large base of cycling enthusiasts, well-established cycling infrastructure, and a growing preference for fitness activities.
– Key players operating in the global Cycling Wear market include Lumiere Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., Assos Of Switzerland Sa, Cuore Of Switzerland Inc., Endura Limited, Tewsn Cycling Gear Limited, Isadore Apparel, Rapha Racing Limited, 2xu Pty Ltd., Maap, Attaquer Pty Ltd., Blacksheep, Pas Normal Studios, Santini Maglificio Sportivo S.R.L. P.I. – C.F., Capo, and Pedla. These players are focusing on product innovation, collaborations, and strategic partnerships to gain a competitive edge in the market.
In conclusion, the global Cycling Wear market is poised for significant growth due to the increasing popularity of cycling and the demand for comfortable and performance-enhancing apparel. The market offers immense opportunities for manufacturers to cater to the diverse needs of cyclists and capitalize on the growing trend of cycling as a preferred recreational and fitness activity.
