Bicycle Apparels Trend to Remain More Prominent Among Millennial Demographic
Use of bicycle apparels is a rapidly increasing trend among end users, especially in China and South Korea, who consider it fashionable. Moreover, this trend is expected to gain significant traction worldwide as companies increase spending on advertisement and celebrity endorsement.
Companies also focus on promoting their bicycle apparels offerings through efficient and attractive presentations at bicycle showrooms and department stores, which propels demand for bicycle apparels.
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- Shimano, Inc.
- Accell Group N.V.
- Campagnolo S.R.L.
- Garmin Ltd.
- Giant Manufacturing Co., Ltd.
- Merida Industry Co Ltd
- Samchuly Bicycle Co.
- FALKE KGaA
- Endura Ltd.
- DT Swiss AG
- Renthal Limited
- Head N.V.
- New Balance Athletics, Inc.
Growing Popularity of Smart Bicycle Apparels to Open New Avenues
Customers seek innovative products with unique features, encouraging companies to introduce smart bicycle accessories in the market and expand their consumer base.
In 2019, Ford Company introduced smart cycling jackets with a GPS tracking system, mobile app connectivity and other features to target consumers that prefer high-tech gadgets, apparels, and equipment. Waterproof jackets with increased breathability, knee warmers, and other products launched by LE Col, Assos, and 2XU Company are contributing significantly to growth of the bicycle apparels market.
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Eco-friendly Bicycle Apparels to Shape Market Trends
Customers are aware of side effects of synthetic apparels on skin and are thus are shifting towards use of bicycle apparels made from natural materials. Grn Sportswear and DannyShane offer bicycle jerseys made from bamboo.
Moreover, some companies manufacture eco-friendly jerseys. Vaude, Howies, and DannyShane offer bicycle jerseys made using recycled materials including recycled plastic bottles, reused fishing nets, and other materials.
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East Asia and South Asia to Lead Global Bicycle Apparels Market
East Asia is expected to hold the highest share in the global bicycle apparels market due to increasing trend of using bicycle apparels as fashion accessories among millennials.
South Asia and Pacific is expected to witness a considerable increase in sales of cycling apparels, attributable to rising customer interest in professional cycling. Europe is expected to hold a significant share in the global bicycle apparels market due to various cycling sports events taking place in this region.
The bicycle apparels market in North America is expected to reach maturity e due to high penetration of bicycle and associated accessories such as cycling apparels in the region.
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Bicycle Apparels Manufacturers Focusing on R&D of Sustainable Materials
The global bicycle apparels market represents a fairly consolidated competition landscape, where majority of key players maintain their strategic focus on business expansion and apparel design innovation.
Leading producers of bicycle apparels prioritize R&D on apparel material to cater to growing demand from countries or regions such as Mexico, China, India, Japan, and European countries such as France, Italy, and the U.K.
Mergers and acquisitions are key strategies adopted by manufacturers of bicycle apparels. In August 2018, Accell Group N.V acquired Velosophy Company, which further helped Accell to accelerate its revenue generation through investments in urban mobility solutions. Increasing environmental concerns influence customers to opt for bicycle apparels made from natural materials instead of synthetic materials.
The changing landscape of the bicycle apparels market has led our analysts to conclude that the market is gaining considerable momentum. Partnerships and joint ventures with domestic players is a key strategies adopted by multinational brands to increase their revenue share in the global bicycle apparels market.
Moreover, customers are highly attracted to bicycle apparel products endorsed by celebrities. Thus, companies of bicycle apparels focus on innovative advertisements to boost their revenue.
Bicycle Apparels Market: Taxonomy
PMR’s research study on the global bicycle apparels market offers a detailed market taxonomy, wherein the key segments have been discussed in detail. The bicycle apparels market is segmented on the basis of product type, sales channel, demographic and region. Every segment is analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
By Sales Channel
The bicycle apparels market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the market. Some of the market players included in this section are Shimano, Inc., Accell Group N.V., Campagnolo S.R.L., Garmin Ltd., and DT Swiss AG.
Bicycle Apparels Market: Key Questions Answered in Report
The research study on the bicycle apparels market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. The key insights offered in the bicycle apparels market answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.
- How rapidly changing business environment turned out to be the major growth engines for the bicycle apparels market?
- What are the key trends that are constantly shaping the bicycle apparels market growth?
- Which are the prominent regions offering plentiful opportunities for the Bicycle apparels market?
- What are the differential strategies adopted by key players to command a significant chunk of the global market share?