NEW YORK , Jan. 25, 2023 /PRNewswire/ -- The global cycling wear market size is estimated to increase by USD 1,303.95 million from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 6.36% during the forecast period - Request a sample report
Global cycling wear market – Vendor analysis Vendor offerings - Padding Jacket
adidas AG - The company offers cycling wear such as the padded cycling BIB shorts and the short sleeve cycling jersey.
ASSOS of Switzerland GmbH - The company offers cycling wear such as MILLE GT BIB shorts C2, MILLE GTC Zeppelin cargo shorts C2, and MILLE GT half shorts C2.
Black Sheep Cycling - The company offers cycling wear such as short sleeve jerseys, long sleeve jerseys, bibs, shorts, and shirts.
CCN Sport Ltd. - The company offers cycling wear such as Nova gradient blue jersey, Nova block blue jersey, and Nova pro cloudy bay green jersey.
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The global cycling wear market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer cycling wear in the market are adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd, Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd, Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc. and others.
Vendors focus on R&D, technology, labor, and branding to compete in the market. In addition, they invest significantly in the procurement of high-quality raw materials to deliver efficient products. Vendors also focus on brand building, brand equity, product quality, and innovation to differentiate themselves from their competitors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
Global cycling wear market - Customer landscape To help companies evaluate and develop growth strategies, the report outlines –
Global cycling wear market - Segmentation assessment
Segment overview Technavio has segmented the market based on distribution channel (online and offline) and product (clothing, footwear, and others).
The online segment will account for a significant share of the market's growth during the forecast period. Before purchasing a product, most consumers refer to websites, blogs, and social media, which drives the growth of the segment. This is because of the wide penetration and geographical reach of e-retailers. The rise in Internet penetration and the increase in smartphone adoption are also increasing the preference for online distribution channels.
Geography overview Based on geography, the global cycling wear market is segmented into Europe , North America , APAC, South America , and Middle East and Africa . The report provides actionable insights and estimates the contribution of all regions to the growth of the global cycling wear market.
Europe is estimated to account for 35% of the growth of the global market during the forecast period. Cycling is considered a leisure, recreational, and sports activity in many European countries. Western European countries have well-known cycling wear brands. Therefore, the wide availability of cycling wear is driving the growth of the market in Europe . In addition, the preference for premium cycling wear is high in the region owing to the high living standards, the introduction of innovative products, and the strong brand value of premium products. France , Italy , and the UK are the major contributors to market growth in Europe .
Global cycling wear market – Market dynamics
Leading drivers - The increase in the adoption of cycling as a fitness activity is driving the growth of the market. Regular physical activities improve physical and mental wellbeing and can alleviate depression, anxiety, tension, and anger. Therefore, the growing awareness about chronic diseases is encouraging people to engage in regular exercise routines and sports activities such as cycling. Moreover, participation in various amateur and professional cycling events is increasing. These factors will increase the demand for cycling wear during the forecast period.
Key trends - The customization of cycling wear, especially among corporate users, associations, and clubs, is a key trend in the market. The popularity of customized products has increased in developed countries as well as in developing countries. Customized cycling wear is priced higher than regular cycling wear. Therefore, during the forecast period, the customization of cycling wear is expected to increase the revenues of cycling wear vendors. These factors will support the growth of the market during the forecast period.
Major challenges - The availability of counterfeit products is challenging market growth. Counterfeit cycling wear costs significantly less than original branded cycling wear. These products are made of low-quality raw materials and are less durable. E-commerce channels have made counterfeit products more accessible globally. Moreover, customers are unable to differentiate between genuine and counterfeit products. These factors will impede market growth during the forecast period.
Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this cycling wear market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the cycling wear market between 2023 and 2027
Precise estimation of the size of the cycling wear market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the cycling wear market across Europe , North America , APAC, South America , and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Cycling Wear Market vendors
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Accelerate at a CAGR of 6.36%
Europe, North America, APAC, South America, and Middle East and Africa
US, China, Japan, Germany, and France
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd, Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd, Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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3.4 Market outlook: Forecast for 2022-2027
4.1 Global cycling wear market 2017 - 2021
4.2 Distribution Channel Segment Analysis 2017 - 2021
6 Market Segmentation by Distribution Channel
6.3 Online - Market size and forecast 2022-2027
6.4 Offline - Market size and forecast 2022-2027
6.5 Market opportunity by Distribution Channel
7.3 Clothing - Market size and forecast 2022-2027
7.4 Footwear - Market size and forecast 2022-2027
7.5 Others - Market size and forecast 2022-2027
9.3 Europe - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 France - Market size and forecast 2022-2027
9.12 Japan - Market size and forecast 2022-2027
10.3 Impact of drivers and challenges
13.3 Currency conversion rates for US$
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