According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Driving Apparel Market (Product Type: Clothing [Jackets, Trousers, Suits, and Others], Footwear [Boots, Shoes, and Others], Protection Gear [Helmets, Armor, Gloves, Knee Protection, Elbow Protection, and Others], and Other Accessories [Socks, Scarves, and Others]; Material: Leather, Synthetic, Natural Fiber, and Others; Vehicle Type: Two Wheeler and Four Wheeler; End User: Men and Women; and Distribution Channel: Online [Company-owned Website and e-Commerce Website] and Offline [Hypermarkets & Supermarkets, Specialty Stores, and Brand Stores]) – Global Industry Trends and Forecast, 2020–2027, the global Driving Apparel Market is expected to reach US$ 23.97 Billion by 2027 and expand at a CAGR of ~5.4% from 2020 to 2027.
Read Full Report @ https://www.industryprobe.com/report-desc-overview.php?id=MjI0&name=Driving-Apparel-Market
As per the report, in terms of vehicle type, the two-wheeler segment was valued at US$ 10.60 Billion in 2019 and is expected to expand at a CAGR of ~6% from 2020 to 2027. Rise in motorcycle sales globally is increasing the demand for driving apparel, which include clothing, footwear, protecting gear, and other accessories. The popularity of motorsports and national & international level racing championships is rapidly increasing globally. Rise in demand for superbikes is expected to fuel the demand for driving apparel across the world.
The report states that the regulatory authorities across the world are enforcing stringent traffic safety regulations regarding the usage of protection clothing and other accessories such as helmets and jackets. This has led to a rise in adoption of driving apparel and other safety accessories to prevent fatal injuries. However, managing the cost of raw materials remains a priority for manufacturers of driving apparel. Raw material supply markets that are gradually tightening, prices will continue to be volatile due to increase demand in worldwide. Prices of raw materials are eased compared to costs in mid recession period but remain volatile. This expected to hamper the market growth during the forecast period.
In terms of vehicle type, two-wheeler is expected to be the most attractive segment of the Driving Apparel Market. Motorcycles are being increasingly used as a mode of transportation in major cities due to factors such as less parking space requirement. This factor is anticipated to support the growth of the Driving Apparel Market in different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Two wheelers demand higher security as compared to four wheelers. Therefore, there is a high demand for driving apparel for two wheelers.
Some of the major players operating in the Driving Apparel Market include PUMA SE, Fox Head, Inc., Adidas AG, Scott Sports SA, Under Armour, Inc., ThorMX, Alpinestars S.p.A, OMP Racing S.P.A, Dainese S.p.A, and Leatt Corporation an More
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