Motorcycle Apparel Industry Size, Share, Growth Rate, Industry Analysis and Global Forecast – 2027
Market Highlights
The Global Motorcycle Apparel Market is
estimated to be valued at USD 12,303.4 Million by 2024 and is expected to
register a CAGR of 7.11% during the forecast period. Motorcycle
apparel is personal protective clothing or equipment for safe riding. It
includes helmets, jackets, gloves, shoes, pants, and base layers. The apparel
protects riders in crashes and from inclement weather.
North America was the largest market for motorcycle
apparel in 2018 and the regional market is expected to
maintain its dominance during the review period. Europe held a significant
market share and was the second-largest market for motorcycle apparel in 2018.
In Europe, the market in Germany is projected to exhibit the highest growth
rate of 7.64% during the forecast period. However, the
Asia-Pacific market is projected to register the highest CAGR during the
forecast period. Increasing per capita disposable incomes in the region have
led to the rising sales of motorcycles and motorcycle apparel.
There are various safety standards in different
countries for motorcycle riders. Thus, the presence of safety regulations and
laws concerning helmets, jackets, and other protective clothing is expected to
fuel the growth of the market for motorcycle apparel. Moreover, the rising per
capita disposable incomes in developing regions, such as Asia-Pacific, are
boosting the demand for motorcycles, including status symbols such as
superbikes and cruiser bikes, which is expected to have a positive impact on
the growth of the motorcycle apparel industry.
Segmental Analysis
The global motorcycle apparel market has been
segmented on the basis of product type, end use, distribution channel, and
region.
By product type, the market has been divided into
helmets, jackets, gloves, shoes, pants, base layers, and others. The helmets segment
accounted for the largest market share in 2018. Stringent regulations mandating
the use of helmets in most countries have boosted the growth of the segment.
Moreover, regulations for helmet manufacturers to offer lighter and safer products
will drive the growth of the segment. However, the gloves segment is projected to
register the highest CAGR during the forecast period. Growing awareness of the
need to protect hands while riding is driving the growth of the segment.
Based on end use, the global motorcycle apparel
market has been classified as on-road motorcycle apparel and off-road
motorcycle apparel. The on-road motorcycle apparel segment accounted
for the larger market share in 2018. There are more on-road than
off-road motorcyclists, which is driving the growth of the segment. Moreover,
the on-road motorcycle apparel segment is projected to exhibit the higher CAGR
during the forecast period.
On the basis of distribution channel, the global motorcycle industry has been segmented
into store-based and non-store-based segment. The store-based segment accounted
for the larger share of the market in 2018 owing to consumer preference
for a one-stop shopping experience. However, the non-store-based segment is
projected to register the higher CAGR during the forecast period. Companies
find it convenient to reach consumers in different regions through e-commerce,
thereby driving the growth of the segment.
Market Players
Market Research Future recognizes KLIM Industries
Inc. (US), KIDO Sports Co. LTD (KIDO Sports) (South Korea), HJC Inc. (South
Korea), Foshan Nanhai Xinyuan Helmets Co., Ltd. (China), Lanxi Yema Motorcycle
Fittings Co., LTD. (China), Dunham’s Athleisure Corporation (US), Chih Tong
Helmet Co., Ltd. (Zhitong Enterprise) (China), Hanil Co., Ltd. (South Korea),
Soaring Helmet Corporation (Vega Helmets) (US), and Zhuhai Safety Helmets MFG
Co., Ltd. (China) as the key players in the
global motorcycle apparel market.
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Regional Analysis
Geographically, the global motorcycle
apparel market has been segmented into North America, Europe, Asia-Pacific, and
the rest of the world. As per MRFR analysis, North America dominated the
market, accounting for the largest share, in 2018. However, the
market in Asia-Pacific is expected to register the highest CAGR of
7.51% during the assessment period. The European market accounted
for the second-largest market share in 2018. The market in Europe is estimated
to reach USD 3,847.3 million by the end of 2024, with Germany being
the leading country-level market.
Key Findings of the Study:
- The global motorcycle apparel market is
projected to reach USD 12,303.4 million by 2024 at
a 11% CAGR during the review period of 2019 to
2024.
- North America accounted for the largest market
share in 2018, with the US being the major contributor to the
growth of the regional market.
- The helmets segment is projected to dominate
the global motorcycle apparel market, by product type, during the forecast
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its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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