Albany, NY -- (SBWIRE) -- 02/19/2018 -- The global market for driving apparel is treading a growth path on the back of surging adoption of protection gear and safety accessories among vehicle riders to prevent serious injuries and even death. In several countries, predominantly developed ones, strict laws mandate the use of helmets, jackets, and other protective clothing for motorbike riders.
Further, the rising popularity of motorsports that have their own perils mandate the use of quality protective gear or individuals who participate in the spectacle. 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.
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.
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A report by Transparency Market Research (TMR) forecasts the global driving apparel market to rise at a CAGR of 5.3% between 2017 and 2025. Proliferating at this rate, the market's valuation of US$12,030.3 mn in 2016 will become US$18,565.0 mn by the end of 2025 in terms of revenue.
The report studies the global driving apparel market based on a few parameters, viz. product type, vehicle type, and geography. 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% market share.
Protection gear such as helmets, knee cap, elbow cap, and spine guard among others 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 not compromising on the safety quotient will further stoke growth of protection gear segment.
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On the basis of vehicle type, the global driving apparel market is classified into four wheeler, two wheeler, and others. Of them, two wheeler segment held the leading market share in 2016; going forward the two wheeler segment is likely to retain its lead position in the market. Strict mandates by motor safety agencies in several parts of the world for the use of protection gear by motorbike riders is leading to a surge in the adoption of the same.
Further, motorsport spectacles such as Formula One, MotoGP, and IndyCar that involve high risk of serious injuries is drawing attention of topnotch manufacturers to provide safety gear for the same. They are also tapping into such events turn to earn brand recognition.
On the basis of geography, the global driving apparel market is divided into five categories: North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. Of them, Asia Pacific led amongst other regional market vis-à-vis revenue in 2016. The growth of this regional market is mainly because of increasing 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 because of 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 S.p.A., Alpinestars S.p.A., Fox Head Inc., Scott Sports SA, ThorMX, PUMA SE, and Adidas AG.