Cycling wear market size to grow by USD 1,303.95 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Jan. 25, 2023 /PRNewswire/ — The global cycling wear market size is estimated to increase by USD 1,303.95 million from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 6.36% during the forecast period Request a sample report

Technavio has announced its latest market research report titled Global Cycling Wear Market 2023-2027

Technavio has announced its latest market research report titled Global Cycling Wear Market 2023-2027

Global cycling wear market – Vendor analysis
Vendor offerings –

  • adidas AG – The company offers cycling wear such as the padded cycling BIB shorts and the short sleeve cycling jersey.

  • ASSOS of Switzerland GmbH – The company offers cycling wear such as MILLE GT BIB shorts C2, MILLE GTC Zeppelin cargo shorts C2, and MILLE GT half shorts C2.

  • Black Sheep Cycling – The company offers cycling wear such as short sleeve jerseys, long sleeve jerseys, bibs, shorts, and shirts.

  • CCN Sport Ltd. – The company offers cycling wear such as Nova gradient blue jersey, Nova block blue jersey, and Nova pro cloudy bay green jersey.

  • For details on vendors and their offerings – Buy the report!

Vendor landscape –

The global cycling wear market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer cycling wear in the market are adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd, Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd, Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc. and others.

Vendors focus on R&D, technology, labor, and branding to compete in the market. In addition, they invest significantly in the procurement of high-quality raw materials to deliver efficient products. Vendors also focus on brand building, brand equity, product quality, and innovation to differentiate themselves from their competitors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

Global cycling wear market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Global cycling wear market – Segmentation assessment

Segment overview
Technavio has segmented the market based on distribution channel (online and offline) and product (clothing, footwear, and others).

  • the online segment will account for a significant share of the market’s growth during the forecast period. Before purchasing a product, most consumers refer to websites, blogs, and social media, which drives the growth of the segment. This is because of the wide penetration and geographical reach of e-retailers. The rise in Internet penetration and the increase in smartphone adoption are also increasing the preference for online distribution channels.

Geography overview
Based on geography, the global cycling wear market is segmented into Europe, North AmericaAPAC, South Americaand Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cycling wear market.

  • Europe is estimated to account for 35% of the growth of the global market during the forecast period. Cycling is considered a leisure, recreational, and sports activity in many European countries. Western European countries have well-known cycling wear brands. Therefore, the wide availability of cycling wear is driving the growth of the market in Europe. In addition, the preference for premium cycling wear is high in the region owing to the high living standards, the introduction of innovative products, and the strong brand value of premium products. France, Italyand the UK are the major contributors to market growth in Europe.

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Global cycling wear marketMarket dynamics

Leading drivers – the increase in the adoption of cycling as a fitness activity is driving the growth of the market. Regular physical activities improve physical and mental wellbeing and can relieve depression, anxiety, tension, and anger. Therefore, the growing awareness about chronic diseases is encouraging people to engage in regular exercise routines and sports activities such as cycling. Moreover, participation in various amateur and professional cycling events is increasing. These factors will increase the demand for cycling wear during the forecast period.

Key trends – the customization of cycling wear, especially among corporate users, associations, and clubs, is a key trend in the market. The popularity of customized products has increased in developed countries as well as in developing countries. Customized cycling wear is priced higher than regular cycling wear. Therefore, during the forecast period, the customization of cycling wear is expected to increase the revenues of cycling wear vendors. These factors will support the growth of the market during the forecast period.

Major challenges – the availability of counterfeit products is challenging market growth. Counterfeit cycling wear costs significantly less than original branded cycling wear. These products are made of low-quality raw materials and are less durable. E-commerce channels have made counterfeit products more accessible globally. Moreover, customers are unable to differentiate between genuine and counterfeit products. These factors will impede market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this cycling wear market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the cycling wear market between 2023 and 2027

  • Precise estimation of the size of the cycling wear market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the cycling wear market across Europe, North AmericaAPAC, South Americaand Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of Cycling Wear Market vendors

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Cycling Wear Market Scope

Report Coverage

Details

Page number

160

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.36%

Market growth 2023-2027

USD 1,303.95 million

Market structure

fragmented

YoY growth 2022-2023 (%)

6.95

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 35%

Key countries

US, China, Japan, Germany, and France

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd, Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd, Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market sizing

4 Historic Market Sizes

5 Five Forces Analysis

6Market Segmentation by Distribution Channel

7Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Cycling Wear Market 2023-2027

Global Cycling Wear Market 2023-2027

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