Global Riding Protective Gear Market SWOT Analysis, Trend Comment, Analysis, Facts, Forecast, Future Scope

Description

By 2024, the market for motorcycle riding gear will be worth USD 13,938 million and is projected to expand at a compound annual growth rate (CAGR) of 5.2%. From 2018 to 2024, the market is expected to be driven by the rising number of motorbike enthusiasts and rising awareness of road safety in different nations throughout the world.

Consumer demand for novel products with effective uses and safety features is rising, thus companies competing in the global market for protective motorbike riding gear have boosted their R&D spending to provide novel products with improved safety features. The market for premium motorcycles is rising globally due to the rise in dual-income households, which has increased spending on protective riding gear.

Due to the rising demand for high-end motorcycles, industry participants are providing items that are cutting-edge and fashionable, give effective safety, and are more expensive than conventional protective apparel. Additionally, it is anticipated that throughout the course of the forecast period, demand for motorcycle riding gear will be fueled by product innovation along with product line extension leading to premiumization..

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Market Trends for Motorcycle Riding Gear

Sales of motorcycles have skyrocketed in recent years, particularly in the category of sports bikes. This is attributable to both rising population and rising purchasing power. Even a middle-class consumer can readily purchase a 300cc bike in emerging nations. Additionally, the market is expanding as a result of customers’ increasing knowledge of the value of safety equipment. Over the course of the forecast period, these factors are anticipated to support market expansion.

Product Information

The motorcycle gear market was dominated by protective gear in 2018, and this trend is anticipated to continue during the forecast period. Road safety is greatly improved with protective gear such helmets, gloves, knee caps, elbow guards, and spine guards. Additionally, these safety equipment shield motorcyclists from critical injuries.

Advanced materials like carbon fibre and fibreglass reinforced plastic are being used by manufacturers of protective equipment to create lightweight products. Vendors are also incorporating cutting-edge communication features in protective equipment like helmets, which is likely to raise consumer demand for these items.

Regional Perspectives

Over the forecast period, Asia Pacific is anticipated to experience the quickest CAGR of 6.9%. It is projected that rising consumer awareness of road safety will fuel market expansion. The forecast timeframe is anticipated to see an increase in the buying of high-end motorcycles. Over the foreseeable term, this will increase demand for motorcycle protective gear. Increased use of a variety of cutting-edge goods and suppliers in nations like Australia, China, and India is anticipated to boost market expansion.

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Product Outlook 

  • Protective Gear
  • Clothing
  • Footwear

Distribution Channel Outlook 

  • Offline
  • Online

Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

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