Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Protective Riding Gear market.
Trusted Business Insights presents an updated and Latest Study on Protective Riding Gear Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Protective Riding Gear market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Global Protective Riding Gear Market is one of the recent reports created by Trusted Business Insights. the target market report focuses on market growth driving and hampering elements, along with opportunities and some major trends. The global protective riding gear market report has been segmented on the basis of type, application, distribution channel, and region.
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Protective Riding Gears: Product Overview
Protective riding gear includes clothing and equipment worn by the riders as a safety measure against any fatal accident or injuries that may occur during traveling, especially while traveling on a motorcycle.
Global Protective Riding Gear Market: Dynamics
Increasing statistics of motorcycle accidents and its fatal consequences where the driver becomes susceptible to injuries and physical bruises have been among the major reasons for rising demand for protective riding gears. Increasing awareness among the population about the road safety measures for driving is also triggering demand for safety gear, which in turn is expected to drive growth of the global protective riding gear market over the forecast period. In addition, regulations by governments that make wearing protective gear mandatory, combined with heavy fines for abiding the laws are expected to augment growth of the global market in the coming years. Increasing demand for protective riding gear can also be accredited to the growing racing industry. Performance racing includes auto racing and motorsports, where protective gear forms a quintessential element. Additional factors that are expected to drive growth of the global market are increasing demand for motorcycles among the youth, increasing production of sports vehicles, increasing product innovation, protective gear considered as fashion trends.
Increasing collaboration among the leading players, combined with car and bike manufacturers also extending their line of production to manufacture protective riding gears and apparels are some of the recent trends observed in the industry and are expected to gain traction and support growth of the players as well as the global market in the coming years. In December 2017 for instance, Royal Enfield, a leading Indian motorcycle manufacturer brand, launched riding gears as an addition to its product portfolio, specifically for the Indian market, inspired by launch of Stealth Black 500cc bike.
Global Protective Riding Gear Market: Segment Analysis
Among the type segments, the helmets segment is currently dominating in the global market and is expected to continue the same over the forecast period. Helmets are considered as the most important protective equipment as it offers protection against head injuries or reduces the extent of casualties.
Among the application segments, the motorcycle segment is expected to account for a major revenue share and is expected to continue with its dominance in the coming years.
By Distribution Channel:
Among the distribution channel segments, the specialty stores segment is expected to grow at a considerable growth rate, owing to availability of high end branded products of different categories under one roof. The online retail segment is anticipated to account for major revenue share in the near future owing to rapidly increasing number of individuals shopping online instead of visiting stores.
Global Protective Riding Gear Market: Regional Analysis
The North America market is currently dominating in the global market, owing to the increasing production of high-performance motorbikes, combined with increasing ownership of such bikes in countries in the region, increasing disposable income, increasing growth of racing industry, and stringent regulatory mandates on account of riding safety measures. Market in the Asia Pacific is expected to become the fastest-growing market in the coming years and register significant growth rate, owing to the increasing popularity of bikes not only among male population but also among women, combined with increasing demand for enhanced gears among population in the developing economies of the region.
Global Protective Riding Gear Market Segmentation:
Segmentation by Type:
Segmentation by Application:
Segmentation by Distribution Channel:
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