USD 12.5 billion
Report ID:
SQMIG25AG2007 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
60
|Figures:
75
Motorbike Riding Gear Market size was valued at USD 13.3 billion in 2022 and is poised to grow from USD 14.15 billion in 2023 to USD 23.24 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2024-2031).
Spending on motorcycle protection gear has increased as urban residents' disposable incomes have increased, and they've become more motivated to travel and have fulfilling lives. Motorcycle riding gear is now utilised for protection, including a helmet, gloves, jackets, knee and elbow guards, spine guards, pants, and shoes. Customers are increasingly looking for cutting-edge products with effective uses and safety features, so companies competing in the global market for protective motorcycle riding gear have increased their R&D spending in order to provide customers with cutting-edge products with added safety features. The market for high-end motorcycles is rising globally due to the rise in double-income households, which increased expenditure on protective riding gear. Due to the increasing demand for high-end motorcycles, market participants are providing cutting-edge and fashionable items that offer effective safety and are more expensive than conventional protective apparel. Moreover, during the projection period, demand for motorcycle riding gear is anticipated to be driven by product innovation, product line extension and premiumization.
US Motorbike Riding Gear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.5 billion
Largest Segment
Protective Gear
Fastest Growth
Protective Gear
Growth Rate
6.4% CAGR
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Global Motorbike Riding Gear Market is segmented on the basis of Product, Distribution Channels, and region. By Product, the market is segmented into Protective Gear, Clothing, and Footwear. By Distribution Channels, Motorbike Riding Gear Market is segmented into Offline and Online. By region, the Motorbike Riding Gear Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Motorbike Riding Gear Market Analysis by Product
The protective Gear segment dominated the Global Motorbike Riding Gear Market. The improvement of road safety is significantly aided by protective equipment such helmets, gloves, knee caps, elbow guards, and spine guards. Furthermore, safety equipment shields motorcyclists from severe injury. Protective equipment manufacturers use cutting-edge materials like carbon fiber and fiberglass-reinforced plastic to create lightweight products. Also, manufacturers are including cutting-edge communication features in safety equipment like helmets, which is projected to boost demand for these goods.
The Clothing segmented is the fastest-growing segment of the Global Motorbike Riding Gear Market. Protection clothing is heavier and thicker than regular clothing, which includes safety armors and is waterproof. The segment is expected to develop due to rising demand for high-end bikes and rising awareness of traffic safety.
Motorbike Riding Gear Market Analysis by Distribution Channels
The Offline segment dominated the Global Motorbike Riding Gear Market. More than 90% of global sales came from the offline market. The expansion of the riding gear market is anticipated to benefit from the rising number of retail locations selling motorcycle safety gear in Brazil, India, and China. For instance, the Italian company Dinesen Protective Gear, which provides riding and motorcycle protection solutions, just joined the Indian market and intends to eventually open ten such stores there over the next few years. Innovative items are being offered by motorbike manufacturers like Royal Enfield, who just joined the market for protective gear for riders. As an illustration, Royal Enfield introduced the Stealth Black Collections of riding gear in the Indian market.
The Online segment is the fastest growing segment of the Global Motorbike Riding Gear Market. This category is becoming the main emphasis of online sellers like Amazon, Flipkart, and MotoSport.com. Developed nations like the United States, Germany, and the United Kingdom frequently use online shopping channel. Yet, because more and more people enjoy riding motorcycles, tiny internet sellers are starting to penetrate areas like Brazil, China, and India. Manufacturers are pressured to adjust their retail strategy for emerging markets due to the promising development displayed by e-commerce platforms in these nations, particularly India and China.
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Asia Pacific dominated the global Motorbike Riding Gear market. The market is expected to develop due to increasing public awareness of road safety. In the anticipated timeframe, a rise in disposable income is anticipated to increase the purchasing of premium motorcycles. The demand for motorcycle safety gear will increase over the forecast period. The market is anticipated to increase favorably as more advanced suppliers and goods become more widely available in nations like Australia, China, and India.
North America is expected to be the fastest-growing region in global Motorbike Riding Gear. Over the projected period, the market will primarily be driven by the implementation of strict rules along with rising awareness of road safety. The industry is anticipated to experience expansion because of the rising number of motorcycle riders. In addition, the popularity of motorcycle sports in the US, Spain, and Italy and high product visibility are driving up demand for protective riding gear for motorcycles.
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Motorbike Riding Gear Market Drivers
Unacceptable Number of Accidents
Increasing motorcycle ownership
Motorbike Riding Gear Market Restraints
Stringent regulation
Limited Product Differentiation
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Global Motorbike Riding Gear Market is highly competitive, with several major players operating in the industry. Market players who want to introduce cutting-edge items are putting a lot of effort into R&D. In order to increase the strength and longevity of their products, merchants are also adopting carbon fiber materials. Electronics are being incorporated into helmets by businesses as well.
Motorbike Riding Gear Market Top Player’s Company Profiles
Motorbike Riding Gear Market Recent Developments
Increasing demand for protective gear
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global motorbike riding gear market analysis, the market growth is driven by factors such as increasing motorcycle ownership, rising awareness of safety, and the availability of advanced riding gear technologies. As more people purchase motorcycles for transportation or recreation, there is a growing awareness of the need for protective gear to ensure rider safety. This has increased demand for motorbike riding gear, including helmets, jackets, gloves, and boots. In addition to the growth in motorcycle ownership, advances in technology have also contributed to the growth of the market. Companies are developing innovative materials and features for their riding gear, such as improved impact resistance, ventilation systems, and smart connectivity.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 12.5 billion |
Market size value in 2030 | USD 21.85 billion |
Growth Rate | 6.4% |
Base year | 2023 |
Forecast period | 2023-2030 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Motorbike Riding Gear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Motorbike Riding Gear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Motorbike Riding Gear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Motorbike Riding Gear Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONMotorbike Riding Gear Market size was valued at USD 12.5 billion in 2021 and is poised to grow from USD 13.3 billion in 2022 to USD 21.85 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
Motorbike Riding Gear Market is highly competitive, with several major players operating in the industry. Market players who want to introduce cutting-edge items are putting a lot of effort into R&D. In order to increase the strength and longevity of their products, merchants are also adopting carbon fiber materials. Electronics are being incorporated into helmets by businesses as well. 'Alpinestars', 'Dainese S.p.A.', 'Fox Head Inc.', 'Leatt Corporation', 'O'Neal Inc.', 'Scott Sports SA', 'KLIM', 'Fly Racing', 'Bell Helmets', 'Shoei Co. Ltd.', 'AGV Sports Group Inc.', 'HJC Helmets', 'Arai Helmet Ltd.', 'Joe Rocket', 'Icon Motosports', 'Rev'It!', 'Spidi Srl', 'Held GmbH', 'Rukka', 'Klim'
More and more bikers are exercising caution as the incidence of incidents keeps increasing at an alarming rate. Motor motorcycle helmet sales have surged as consumers become more ready to invest in their safety. Compared to four-wheeled vehicles, motorcycles are less stable. Furthermore, motorcycle riders are far more exposed to the elements and other road hazards than passengers in enclosed vehicles. The degree of safety and the measures implemented strongly correlate with the frequency of accidents and fatalities. So, spending on protective equipment like motorcycle helmets has increased as rider safety concerns have grown.
The availability of innovative materials and technologies that offer improved rider protection and comfort is driving the market growth. Motorcycle accidents can result in serious injury or even death, and riders are increasingly aware of the need to wear protective gear such as helmets, jackets, gloves, and boots. As a result, companies are responding by developing new materials and technologies that offer improved impact resistance, ventilation systems, and smart connectivity. In addition to providing protection, these innovative materials and technologalso aim to improveving rider comfort, which is an important consideration for many motorcyclists. For example, some companies are developing gear with improved ventilation systems or moisture-wicking properties that help keep riders cool and dry.
Asia Pacific dominated the Motorbike Riding Gear market. The market is expected to develop due to increasing public awareness of road safety. In the anticipated timeframe, a rise in disposable income is anticipated to increase the purchasing of premium motorcycles. The demand for motorcycle safety gear will increase over the forecast period. The market is anticipated to increase favorably as more advanced suppliers and goods become more widely available in nations like Australia, China, and India.
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Report ID: SQMIG25AG2007