New York, NY, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Riding Protective Gear Market By Type (Helmets, Jackets, Knee Pads, Gloves, Shoes, and Others), By Application (Motorcycle, Scooter, Step-Through, and Others), and By Distribution Channel (Specialty Stores, Mass Merchandisers, and Online Retail): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024” . According to the report, the global riding protective gear market was valued at around USD 10,047 million in 2017 and is expected to reach approximately USD 13,938 million by 2024, at a CAGR of around 5.2% between 2018 and 2024.
Riding protective gears are generally used by motorcycle riders while riding sports bikes and preferring long bike journeys. Depending on ride type, different riding protective gears can be used. Each type of protective gear ensures safety and protection of the rider while riding a motorcycle. According to the U.S. Department of Transportation, in 2015, around 6.3 million fatal, injury, and property damage crashes occurred in the U.S. alone. Several of these incidences occur worldwide, which has led to the huge demand for the riding protective gear globally.
Browse through 105 Tables & 41 Figures spread over 110 Pages and in-depth TOC on “Global Riding Protective Gear Market: By Type, Size, Share, Trends, Growth, Application, Analysis and Forecast 2017—2024”.
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The increasing popularity of bike riding and high awareness regarding personal safety are anticipated to be the major factors fueling the riding protective gear market globally in the future. Increasing incidences of traffic fatalities is another factor likely to influence the global riding protective gear market over the estimated time period. Additionally, the growing number of racing tournaments, such as Formula 1, the Super GT championship etc., is anticipated to further fuel the riding protective gear market over the forecast period. Rapidly developing economies increased disposable income, and improved standard of living of people in emerging economies are other major factors boosting the sale of the motorcycles. This, in turn, is expected to drive the riding protective gear market in the future.
By type, the global riding protective gear market is segmented into helmets, jackets, knee pads, gloves, shoes, and others. Helmets are anticipated to dominate the global market in the upcoming years, owing to stringent regulations governing the compulsion of helmet usage globally. By application, the riding protective gear market is segmented into motorcycle, scooter, step-through, and others. Motorcycles are projected to grow substantially over the estimated timeframe, owing to the increasing popularity of motorcycle riding among women especially in urban areas. By distribution channel, the riding protective gear market includes specialty stores, mass merchandisers, and online retail. Online retail stores are expected to gain popularity over the forecast time period.
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Europe is another prominent region likely to exhibit considerable growth in the riding protective gear market in the future. This can be attributed to the increased demand for two-wheelers in the region. Italy, France, and Germany are the largest motorcycle markets in Europe. In 2017, a total of 913,723 motorcycles were registered in Europe, with increased registrations of mopeds and electric motorcycles. As two-wheelers are cost-effective and convenient for personal mobility, this segment is dominant in the Europe motorcycle market. This, in turn, is anticipated to boost the European riding protective gear market in the future. Moreover, the implementation of key marketing strategies, growing investments by international players, and increasing research and development activities observed in the protective gear industry is anticipated to further fuel the region’s riding protective gear market.
Asia Pacific riding protective gear market is projected to expand substantially over the forecast timeframe. This can be attributed to the improved infrastructural facilities in rural areas, rising per capita income, and an increasing number of racing events. Evolving economies, growing road and infrastructure development, increasing working women population, and stringent government regulations are anticipated to further drive the riding protective gear market over the forecast time period. Development of infrastructure in rural and semi-urban areas of developing countries, such as India and China, has increased the popularity of scooters for local transportation across the region. The increasing number of car racing events, such as Formula 1 and the Super GT championship, availability of racing circuits in the region, and technological advancements are other factors likely to drive the region’s riding protective gear market. Additionally, India is the world’s biggest two-wheeler market with the rising demand for all kinds of vehicles, including premium motorcycles, gearless scooters, and powerful sports bikes. This, in turn, is anticipated to positively influence the riding protective gear market over the estimated period.
Browse the full “Riding Protective Gear Market By Type (Helmets, Jackets, Knee Pads, Gloves, Shoes, and Others), By Application (Motorcycle, Scooter, Step-Through, and Others), and By Distribution Channel (Specialty Stores, Mass Merchandisers, and Online Retail): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024” Report at https://www.zionmarketresearch.com/report/rid...ear-market
The Latin American and the Middle Eastern and African regions are anticipated to witness sluggish growth in the riding protective gear market in the future. These regions are the least growing markets due to relatively lower consumer spending, humid and hot environment, which discourages riders from wearing helmets. Additionally, the low growing income of the regional population also adversely affects the riding protective gear market growth.
Some key players of the global riding protective gear market are PT Tarakusuma Indah, Jiujiang Jiadeshi, NZI, LAZER, Pengcheng Helmets, Safety Helmets MFG, Alpine Star, Zhejiang Jixiang, Hehui Group, and Yema, among others.
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This report segments the global riding protective gear market into:
Global Riding Protective Gear Market: Type Analysis
- Helmets
- Jackets
- Knee Pads
- Gloves
- Shoes
- Others
Global Riding Protective Gear Market: Application Analysis
- Motorcycle
- Scooter
- Step-Through
- Others
Global Riding Protective Gear Market: Distribution Channel Analysis
- Specialty Stores
- Mass Merchandisers
- Online Retail
Global Riding Protective Gear Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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