Press release
Driving Apparel Market Outlook 2024; Top report of 2017
According to the research report, the global driving apparels market was worth US$11.8 bn in 2015 and is expected to reach a valuation of US$17.2 bn by the end of 2024. During the forecast years of 2016 and 2024, the global market is expected to register a CAGR of 4.6%.
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Stringent Laws Ensuring Road Safety Trigger Demand for Driving Apparels
The stringent laws and regulations regarding the usage of helmets, jackets, and other protecting clothing while riding or participating in motorsport is responsible for the growing uptake of driving apparels. The market is also being driven by the increasing popularity of motorsports such as IndyCar, Formula One, and MotoGP has also increased sales of jackets, gloves, knee caps, elbow caps, and helmets amongst others. Growing focus on leading players to introduce technological advancements and product innovation has also boosted the demand for driving apparels in recent years. Analysts expected the market will witness a significant boom in the coming years as rising disposable incomes and improving purchasing power will allow several consumers to invest in quality gear for safety purposes.
Asia Pacific to Dominate Global Market with Emerging Economies of India and China
In terms of geography, the global driving apparels market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The report stated that Asia Pacific was the largest contributor to the global market in 2015. Increasing penetration of international brands, booming economies such as India and China, increasing government regulations to ensure road safety, and distribution of international brands through various retail outlets is expected to keep Asia Pacific at the forefront of the global market. The report also states that Europe will be an emerging market for driving apparels during the forecast period due to several technological advancements in design and increasing adoption of these products with growing awareness about safety amongst consumers in this region.
The leading players operating in the Key players profiled in the report on global driving apparel market include Alpinestars S.p.A., Dainese S.p.A., Fox Head, Inc., Scott Sports SA, and ThorMX among others. Most of these players are focused on ensuring product development, technological advancements, and mergers and acquisitions among others to achieve an unmatched competitive edge over other players in the overall industry.
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