Driving Apparel Market to Grow with a CAGR of 5.8% Globally through 2028
Rising concerns
for road safety and growing popularity of motorsports are driving the Global
Driving Apparel Market in the forecast period 2024-2028.
According to
TechSci Research report, “Global Driving Apparel Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Driving Apparel Market stood at USD 14.32 Billion in 2022 and is
anticipated to grow with a CAGR of 5.8% in the forecast period, 2024-2028. The
Global Driving Apparel Market is a dynamic industry influenced by a combination
of drivers, trends, and challenges. One of the primary drivers is the rising
awareness of road safety, prompting an increased demand for protective gear.
Governments and regulatory bodies globally are emphasizing the importance of
using appropriate safety measures, contributing to the market's growth. This
has led to a surge in the adoption of driving apparel, including helmets,
jackets, gloves, and suits, designed to provide both style and enhanced
protection.
Another key
driver is the growing popularity of motorsports. Enthusiasts and professionals
in motorcycle and automobile racing require specialized and high-performance
driving apparel. This trend extends beyond racing events, as the fan base for
motorsports continues to expand globally. Manufacturers are innovating to cater
to the specific needs of motorsports enthusiasts, integrating advanced
technologies and materials to enhance both safety and performance.
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market data Figures spread through xx Pages and an in-depth TOC on
"Global Driving Apparel Market”
Technological
advancements play a crucial role in shaping the driving apparel market. The
integration of smart technology, such as communication systems and
impact-resistant materials, is a notable trend. Manufacturers are incorporating
features like heads-up displays, wearable technology, and connectivity options
into driving gear, offering consumers a seamless and tech-enhanced driving
experience. Advanced materials, such as abrasion-resistant fabrics and
impact-absorbing polymers, are also being employed to improve the safety and
durability of driving apparel.
On the consumer
side, lifestyle changes and increasing disposable incomes contribute to the
market's growth. As urbanization progresses and more individuals adopt driving
as a part of their daily lives or leisure activities, the demand for stylish and
comfortable driving apparel rises. Consumers are seeking products that not only
provide protection but also align with their personal style preferences. This
has led to a shift in focus towards customization and personalization options
in driving gear, allowing consumers to tailor their apparel to suit their
individual tastes.
Despite the
positive drivers, the global driving apparel market faces challenges. Stringent
regulatory standards and certification requirements pose hurdles for
manufacturers. Compliance with safety standards involves rigorous testing and
certification processes, adding complexity and costs to production.
Additionally, the market's fragmentation and intense competition result in
price wars and reduced profit margins. Economic uncertainties and changes in
consumer spending patterns can impact the market, as driving apparel is
considered a discretionary purchase, susceptible to fluctuations in disposable
income.
In conclusion,
the Global Driving Apparel Market is characterized by a convergence of factors
that drive its growth, shape consumer preferences, and present challenges to
industry players. The industry's response to technological advancements,
sustainability trends, and the evolving demands of consumers will likely
continue to influence the market's trajectory. As safety awareness increases,
lifestyle preferences evolve, and technology continues to advance, the driving
apparel market is poised for ongoing innovation and adaptation to meet the
diverse needs of consumers worldwide.
The Global Driving
Apparel Market is segmented into product type, material, sales channel,
regional distribution, and company.
Based on product
type the market is segmented into clothing, footwear, and protection gear.
Based on material
the market is segmented into leather, synthetic, and natural fibre.
Based on sales channel
the market is segmented into supermarkets/hypermarkets, exclusive stores,
online, others.
Based on region
the market is segmented into five regions, North America, Europe, Asia Pacific,
Middle East & Africa, and South America.
Major companies
operating in Global Driving Apparel Market are:
- Dainese
S.p.A
- Nike,
Inc.
- Puma
SE
- Adidas
AG
- ASICS
India Pvt. Ltd.
- VF
CORPORATION
- Alpinestars
- SCOTT
Sports SA
- Racing
Force S.p.A.
- FOX
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“Focus on
sustainable and eco-friendly materials is a significant trend that is expected
to have an impact on growth over the forecasted period. Rising concerns for
road safety and growing popularity of motorsports will positively impact the
Global Driving Apparel Market. Due to the wide range of products available to
meet specific needs of, as well as the growing popularity of the online sales
channel, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Driving
Apparel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Clothing,
Footwear, Protection Gear), By Material (Leather, Synthetic, Natural Fibre), By
Sales Channel (Supermarkets/Hypermarkets, Exclusive Stores, Online, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth
potential of Global Driving Apparel Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Driving Apparel Market.
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