Sarasota, FL -- (SBWire) -- 02/08/2019 --Zion Market Research has published a new report titled "Riding Protective Gear Market By Type (Helmets, Jackets, Knee Pads, Gloves, Shoes, and Others), By Application (Motorcycle, Scooter, Step-Through, and Others), and By Distribution Channel (Specialty Stores, Mass Merchandisers, and Online Retail): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024". According to the report, the global riding protective gear market was valued at around USD 10,047 million in 2017 and is expected to reach approximately USD 13,938 million by 2024, at a CAGR of around 5.2% between 2018 and 2024.
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Riding protective gears are generally used by motorcycle riders while riding sports bikes and preferring long bike journeys. Depending on ride type, different riding protective gears can be used. Each type of protective gear ensures safety and protection of the rider while riding a motorcycle. According to the U.S. Department of Transportation, in 2015, around 6.3 million fatal, injury, and property damage crashes occurred in the U.S. alone. Several of these incidences occur worldwide, which has led to the huge demand for the riding protective gear globally.
The increasing popularity of bike riding and high awareness regarding personal safety are anticipated to be the major factors fueling the riding protective gear market globally in the future. Increasing incidences of traffic fatalities is another factor likely to influence the global riding protective gear market over the estimated time period. Additionally, the growing number of racing tournaments, such as Formula 1, the Super GT championship etc., is anticipated to further fuel the riding protective gear market over the forecast period. Rapidly developing economies increased disposable income, and improved standard of living of people in emerging economies are other major factors boosting the sale of the motorcycles. This, in turn, is expected to drive the riding protective gear market in the future.
By type, the global riding protective gear market is segmented into helmets, jackets, knee pads, gloves, shoes, and others. Helmets are anticipated to dominate the global market in the upcoming years, owing to stringent regulations governing the compulsion of helmet usage globally. By application, the riding protective gear market is segmented into motorcycle, scooter, step-through, and others. Motorcycles are projected to grow substantially over the estimated timeframe, owing to the increasing popularity of motorcycle riding among women especially in urban areas. By distribution channel, the riding protective gear market includes specialty stores, mass merchandisers, and online retail. Online retail stores are expected to gain popularity over the forecast time period.
By region, the Asia Pacific riding protective gear market is projected to expand substantially over the forecast timeframe. This can be attributed to the improved infrastructural facilities in rural areas, rising per capita income, and an increasing number of racing events. Evolving economies, growing road and infrastructure development, increasing working women population, and stringent government regulations are anticipated to further drive the riding protective gear market over the forecast time period. North America is anticipated to show significant growth in the riding protective gear market, owing to increasing number of female riders that is helping in transforming the motorcycle culture in North America. The European riding protective gear market is anticipated to show momentous growth amid the increasing number of moped and electric bike registrations in the region. The Middle Eastern and African and Latin American markets are projected to show sluggish growth over the estimated period, due to low consumer spending.
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Some key players of the global riding protective gear market are PT Tarakusuma Indah, Jiujiang Jiadeshi, NZI, LAZER, Pengcheng Helmets, Safety Helmets MFG, Alpine Star, Zhejiang Jixiang, Hehui Group, and Yema, among others.
This report segments the global riding protective gear market into:
Global Riding Protective Gear Market: Type Analysis
Helmets
Jackets
Knee Pads
Gloves
Shoes
Others
Global Riding Protective Gear Market: Application Analysis
Motorcycle
Scooter
Step-Through
Others
Global Riding Protective Gear Market: Distribution Channel Analysis
Specialty Stores
Mass Merchandisers
Online Retail
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Global Riding Protective Gear Market: Regional Analysis
North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Global Riding Protective Gear Market Is Set for Rapid Growth, to Reach USD 13,938 Million by 2024
Global riding protective gear market expected to reach approximately USD 13,938 million by 2024, at a CAGR of around 5.2% between 2018 and 2024. The increasing popularity of bike riding and high awareness regarding personal safety are anticipated to be the major factors fueling the riding protective gear market globally in the future.