11192017Headline:

Driving Apparel Market Is Expected to Reach USD 18,565.0 Mn in Terms of Revenue by 2025: Transparency Market Research

Nov 6, 2017 - (Newswire)

According to a new market report published by Transparency Market Research “Driving Apparel Market (By Product – Clothing, Footwear, Protection Gear, By Vehicle – Two Wheeler, Four Wheeler, Others) – Global Industry Analysis, Trend, Size, Share and Forecast, 2017 - 2025,” the market was valued at USD $12,030.3 Mn in 2016 and is expected to reach USD $18,565.0 Mn in terms of revenue by 2025, growing at a CAGR of 5.3 percent from 2017 to 2025.

Browse the Research Report at https://www.transparencymarketresearch.com/driving-apparel-market.html

Driving apparels include jackets, pants, boots, helmets, gloves, armors and other protection accessories, which are designed to protect the rider while driving and prevent injuries in case of an accident. Motorcycle jackets and pants are generally made of leather or specific fabrics. The jackets include heavy padding on the spine, elbow and shoulder. Gloves are normally made of leather and carbon fiber with knuckle protection. Boots, particularly those for sport riding, are partly comprised of plastic caps on the toe and ankle areas, which provide ample protection. The global driving apparel market is mainly driven by increasing government regulations and concern for road safety and growing popularity for motorsports. Moreover, easy availability of jackets, boots, helmets, gloves and other protective clothing in different retail outlets are expected to encourage impulse purchasing of these products, which in turn is likely to bolster the growth of the market. However, there is intense competition for driving apparels from the unorganized sector. Various local manufacturers are continuously involved in production of low-quality products at a cheaper price. This factor is expected to hinder the growth of the market in the organized sector during the forecast period. With innovation in manufacturing processes, protection gears with cutting edge technologies are anticipated to be developed in the future, which in turn is likely to create significant growth opportunity for this market.

For an in-depth analysis, the driving apparel market is segmented on the basis of product type, vehicle type and geography. In terms of product type, the market is segmented into clothing, footwear and protection gear. Based on vehicle type, global driving apparel market is segmented into three application segments such as two wheelers, four wheelers and others. This market is segmented with respect to regions such as North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

In 2016, the protection gear segment accounted for the largest share in the driving apparel market and is likely to retain its position during the forecast period, 2017-2025 as well. Strict enforcement of safety regulations related to use of helmets and other protection accessories and increasing cases of serious head injuries of riders in the event of an accident are some important factors responsible for the growth of this market. Clothing is another type of protection apparel that is expected to increase its market share over the forecast period.

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The two-wheeler segment held the largest market share in the driving apparel market in 2016, owing to increasing adoption of two-wheelers worldwide and extensive usage of driving apparels for safety purposes, particularly in motorcycle racing events.

The Asia-Pacific region dominated the market in 2016 and it would maintain its position during the forecast period. China is the foremost economy in boosting demand for the driving apparel market. Rapid technological advancements of driving apparels and increasing production of vehicles coupled with the inflow of foreign investments in apparel manufacturing companies are some of the major factors driving the market growth in this country. Europe is the second largest region in expanding the global driving apparel market. The major reason is attributed to huge production of automobiles and huge consumer awareness toward road safety in the U.K. and Germany among others.

Key players in the global driving apparel market include Alpinestars S.p.A. (Italy), Dainese S.p.A. (Italy), Fox Head, Inc. (U.S.), Scott Sports SA (Switzerland), ThorMX (U.S., PUMA SE, and Adidas AG. Product innovation and development is a key strategy adopted by most leading market players. New product innovation is necessary to deal with the stiff competition in the market. Companies are involved in research and development to create innovative products, which helps them capture and hold a larger market share globally compared to their competitors.

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Original Source: https://www.newswire.com/news/driving-apparel-market-is-expected-to-reach-usd-18-565-0-mn-in-terms-20040562

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