The global market for driving apparel is on a growth track thanks to increased use of protection gear and safety accessories among vehicle riders, according to a new report by Transparency Market Research (TMR).
In many countries, strict laws have now mandate the use of helmets, jackets and protective clothing for motorbike riders, further increasing demand.
In addition, the rising popularity of motorsports that have their own perils call for the use of quality protective gear for participants. In addition, easy availability of jackets, boots, helmets and other protective clothing by means of several retail channels, is stoking growth of driving apparel market, the report noted.
Proving to be a roadblock to the market’s growth is the presence of a large unorganized sector that gives intense competition to manufacturers of driving apparels. A large number of local manufacturers are involved in the production of low quality products available at low prices, TMR stated.
The report forecasts the global driving apparel market to rise at an annual rate of 5.3% between 2017 and 2025. Proliferating at this rate, the market’s valuation of $12.03 billion in 2016 will climb to $18.56 billion by the end of 2025.
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The global driving apparel market, based on product type, is segmented into footwear, clothing and protection gear. Of them, protection gear stood as the leading revenue contributor in 2016, accounting for almost 50 percent market share. Protection gear such as helmets, knee and elbow caps, and spine guards play an important role for improving safety and specifically designed with armored protection to prevent vulnerable body parts to receive serious injuries during an accident. The introduction of advanced materials such as fiberglass, reinforced plastic and carbon fiber to make lightweight protection gear more efficient is expected to further stoke growth of the segment.
The Asia Pacific region was the revenue leader in 2016 with $4.45 billion thanks to increased research and development initiatives by product manufacturers to introduce sturdy products, availability of international brands through various retail channels, and increasing government regulations for the use of protection gear to minimize injuries during accidents.
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Europe stood as the second-leading market for driving apparel in 2016. The growth of this regional market is due to extensive research carried out for the introduction of advanced driving apparels and increasing adoption of these products among safety conscious consumers.
Leading players in the global driving apparel market include Dainese, Alpinestars, Fox Head, Scott Sports, ThorMX, Puma and Adidas.