PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1110194
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1110194
The cycling wear includes products such as leggings, shorts, gloves, beanies, tights jackets, footwear, eyewear, and jerseys. These products are designed with high category clothing material offering good comfort to the rider, along with other attributes including durability, moisture resistance, waterproof, windproof, and high visibility. Cycling wear apparel is designed to fit and support the body during riding and thus, are made up of stretchable material to offer extra comfort. Gradually progressing cycling industry coupled with significant growth of sports apparel industry continue to remain instrumental in influencing the demand for cycling wear worldwide. In addition, the cycling wear market growth is driven by the increasing preference for cycling, given the inherent health benefits of this sport.
Governments of various economies are taking initiatives to encourage people for adopting cycling. This is owing to the fact that governments are focusing on reducing carbon footprint in the country. For instance, Essex, a county in Southeast England, introduced The Cake Escape, which was launched in August 2013. It is a joint venture between Essex County Council and Sustrans, a U.K. sustainable transport charity, to increase the number of people cycling. This is expected to increase the number of people opting cycling, thus in turn, aiding in growth of the market. Prominent players in the cycling industry motivate and encourage cycling sport. For instance, Sinhgad bike and hike event in Pune, India held on April 28, 2018, was sponsored by Giant Starkenn which is a bicycle manufacturer. Such events aim to encourage cycling as a sport and provide cycling enthusiast a platform. Cycling wear is expensive than regular apparel. For instance, Core Athletics wearable jersey and shorts are in the range of at US$ 25- US$ 28, while Core Athletics Cycling Jersey is priced around US$ 35- US$ 45. Middle class income group consider cycling apparel as a luxury item which is growing the market for global cycling wear.
The government initiatives for adoption cycling, cycling tourism, and development of cycling infrastructure is driving the market growth for cycling wear. For instance, International cycling races such as Tour de Singkarak, Tour de Flores, International Tour de Banyuwangi Ijen, and Tour de Siak are conducted in Indonesia to promote cycling and cycling tourism. In January 2018, the Tour of Indonesia was re-launched and upgraded to Class 2.1 after seven years. Moreover, the Land Transport Authority in Singapore aims to make the country a cycling-friendly city by 2030. Land Transport Authority plans to construct cycling network of 700km across the island. Moreover, cycling infrastructure such as bicycle crossings and parking facilities will be constructed to encourage cycling culture.
"*" marked represents similar segmentation in other categories in the respective section