Cycling Wear Market, by Product Type (Top Wear, Bottom Wear, Head gear), and by Distribution Channel (Sports Shops, Online, Specialty Stores, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Dec 2018 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Market Introduction

Cycling wear involves use of garments or gears for enhancing the performance or for comfort during cycling.  Increasing number of people are opting for cycling as a hobby and the market is driven by a growing portion of the population living healthier lifestyles and their stronger participation in sports and fitness activities. Hence, owing to these factors and increased consumer awareness, the global cycling wear market is expected to gain a significant traction over the forecast period.

According to the World Health Organization (WHO), increasing sedentary lifestyle is contributing to various lifestyle diseases such as diabetes and cardiovascular diseases due to physical inactivity, incorrect body posture, and other such factors. According to an article published in Down to Earth, over 61% of all deaths in India were due to lifestyle or non-communicable diseases (NCDs), in 2017. People even travel shorter distances on vehicles in spite of being able to walk or cycle to the destination, owing to growing use of transport. According to WHO, commuters who cycle to work have 41% lower risk of dying from all causes than people who drive or take public transport. Cycles also help in reducing noise pollution, which is one of the major factor for increasing adoption of cycling.

Governments in various cities are focusing on initiatives to carve out cycling routes for cyclists, which is a significant factor for increasing adoption of cycling. For instance, The Government of India in 2017 built cycling tracks in 10 cities in the region along the arterial roads to promote cycling as a mode of intra-city transport.

Market Dynamics

Various governments are focusing on initiatives to encourage people to adopt cycling. For instance, Essex, a county in Southeast England, came up with The Cake Escape, which was launched in August 2013. It is a joint venture between Essex County Council and Sustrans—a UK sustainable transport charity—to increase the number of people cycling. This is expected to increase the number of people opting for cycling, thus in turn aiding in growth of the market.

Nonetheless, the increase in the sale of sports apparel is equally helping the global cycling wear market to grow. According to Coherent Market Insights, the revenue in the Sports & Outdoor segment had amounted to US$ 53,024 million in 2017. Likewise, technological developments like Zero Sweat Sport Tees designed to absorb the sweat has also led to the growth in sales of sports apparel, especially the sports tee shirts segment.

One of the major factors restraining the growth of the market is low disposable income in emerging economies. According to The Energy and Resources Institute, for low income households in India, the price of cycles is perceived to be high due to which cycle sales in the country are low. The price of the cheapest cycle in rural India is about 15% of the annual per capita rural income as compared to about 2.5% in rural China. Moreover, underdeveloped and many developing countries do not have proper road infrastructure for cycling, which could hinder growth of the market.

Market Outlook

Europe is expected to account for be largest share in the global cycling wear market. The region is known for its cycling destinations such as Belgium, France, and Switzerland. Government of these countries have stringent rules and regulations pertaining to cycling, as in, cycling wear or at least cycling headgear is mandatory for a person to ride the bicycle. This is a major factor driving growth of the market. For instance, The German Bicycle Law states that a good bicycle helmet should have a hard outer shell made of reflective material, air vents, and air duct bars on the air vents to protect against insects and closure straps. Also, cycling helmets should have the mark inside the shell that they conform to the ÖNORM EN 1078.

According to Coherent Market Insights, in Switzerland, 5% of all trips and 10% of trips to work are facilitated through cycles. Also, there are plenty of cycle renting shops in the region that provide cycles and cycling wear to the locals and tourists. These factors are expected to aid in growth of the market in the region over the forecast period.

Furthermore, Copenhagen has 350 km of cycle paths and lanes, which are raised from the road and are safe to cycle on. The Copenhagenize Design Company, has re-established bicycle as a mode of transport in the cities and has implemented bicycle strategies such as chalking out safe cycle routes to schools, location-specific streetscape design and bicycle parking analyses, cycling necessities, owing to which the citizens are shifting their preference towards cycling, thus in turn, aiding in growth of the market.

Key Players

Players in the market are focusing on various strategies to sustain their position in the competitive market such as merger, acquisition, partnership, and product innovation. For instance, Nike, Inc., in 2017, entered into a global partnership with Amazon so that it could sell its product on Amazon’s platform.

Key players operating in the global cycling wear market are Nike, Inc., PUMA SE, Specialized Bicycle Components, Inc., ASSOS of Switzerland GmbH, Nike, Inc., Merida Industry Co. Ltd., and Giordano International Ltd.

Market Taxonomy

On the basis of product type, the global cycling wear market is segmented into:

  • Top Wear
    • Jerseys
    • T-shirts
    • Gloves
    • Arm Warmers
  • Bottom Wear
    • Track Pants
    • Shorts
    • Knickers
    • Leg Warmers
    • Socks
    • Gaiters
    • Knee Caps
  • Head Gear
    • Helmets
    • Head Scarves

On the basis of product type, the global cycling wear market is segmented into:

  • Sports Shops
  • Online
  • Specialty Stores
  • Others

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
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  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
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Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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