Global Bicycle Apparels and Accessories Market Revenue is Estimated to Reach USD 11,979 million by 2031, Growing at a CAGR of 5.25%: Straits Research

Global government initiatives, exemplified by organizations like the Adventure Cycling Association in the US and the UK's USD 2.5 billion bike voucher program, aim to enhance cycling awareness. This is poised to drive global demand for bicycle apparel and accessories, presenting significant market opportunities.

New York, United States, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Bicycle attire is clothing for cycling that provides cyclists with comfort and safety. This group consists of gloves, pants and shorts, socks, jerseys, and t-shirts. Accessories, which include bottle cages, kickstands, mirrors, and safety equipment, are parts that accompany a bicycle. Bicycle wear is the term for using clothing or other accessories to increase cycling performance or comfort. The market for cycling equipment is growing as more people take up riding as a hobby, and a larger proportion of the population embraces better lifestyles, which results in increased participation in sports and fitness activities.

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Increasing Participation in Outdoor Activities Drives the Global Market

In a natural context, outside activities, typically outdoor recreational activities, are performed. The Outdoor Industry Association estimates that 146,1 million Americans participated in at least one outdoor activity in 2017. In 2017, 49.0% more persons participated in outdoor activities than in 2016 (48.8%). Additionally, according to the Children's Society, spending time outdoors and engaging in physical activity improves a child's short- and long-term well-being for various reasons, including improving physical and mental health. Thus, the increased engagement in outdoor activities and the growing awareness of the health advantages of these activities are likely to drive the worldwide bicycle apparels and accessories market over the forecast period.

Positive Initiatives by Governments to Promote Cycling Creates Tremendous Opportunities

According to Straits Research, “The global bicycle apparels and accessories market size was valued at USD 7,558 million in 2022. It is estimated to reach USD 11,979 million by 2031, growing at a CAGR of 5.25% during the forecast period (2023–2031).” Governments in numerous nations are implementing programs to raise awareness of the benefits of riding, which is anticipated to enhance the bicycle clothes and accessories market. In the United States, the non-profit Adventure Cycling Association encourages people of all ages to travel by bicycle for recreation, exercise, and self-discovery. Several other government organizations, including The Adam Little Foundation, Bike Walk Connecticut, Cadence Cycling Foundation (CCF), and The National Brotherhood of Cyclists, are also trying to raise awareness of the advantages of cycling activities for children and adolescents. The government of the United Kingdom has also issued bike repair coupons to ease the load on public transportation. Thus, the steps taken by governments to promote cycling are anticipated to generate opportunities for industry participants in the worldwide bicycle apparels and accessories market over the forecast period.

Regional Analysis

European global bicycle apparels and accessories market is anticipated to grow at a CAGR of 5.49% during the forecast period. The market expansion in France is attributable to the country's growing awareness of rider safety. The region holds multiple cycling events annually, enticing people to participate and boosting bicycle clothing and accessories sales. Strict government regulations controlling rider safety have a favorable effect on the expansion of the European bicycle gear and accessory industry. In the European market, premiumization is a significant trend gaining traction. Due to the region's high discretionary incomes per capita, consumers are eager to purchase expensive, high-quality cycling clothes and accessories. This region is experiencing a need for bicycle clothes and accessories due to the increasing number of athletes, primarily from Germany.

North America is estimated to grow at a CAGR of 5.30% over the forecast period. The market in North America offers manufacturers of cycling clothes and accessories substantial potential. The rising product offerings of top manufacturers with unique colors, materials, and designs for various product kinds is one of the most significant growth aspects of the regional market. The regional market for cycling equipment and accessories is predicted to expand due to technological developments such as incorporating airbags and LEDs into helmets. In addition, leading manufacturers focus promotional operations on increasing customer knowledge of new products, speeding the expansion of the North American market.

Key Highlights

  • Based on type, the global bicycle apparels and accessories market is divided into helmets, jerseys and tees, gloves, pants and shorts, shoes, goggles and glasses, protection gear, socks, and others. The jerseys and tees segment is responsible for the largest market share and is anticipated to grow at a CAGR of 5.38% over the forecast period.
  • Based on category, the global bicycle apparels and accessories market is segmented into mountain bikes, road bikes, city bikes, and others. The road bikes segment owns the highest market share and is expected to grow at a CAGR of 5.15% over the forecast period.
  • Based on the distribution channel, the global bicycle apparels and accessories market is segmented into store-based and non-store-based. The store-based segment is the highest contributor to the market and is expected to grow at a CAGR of 5.05% over the forecast period.
  • Europe is the most significant shareholder in the global bicycle apparels and accessories market and is anticipated to grow at a CAGR of 5.49% during the forecast period.

Competitive Players

The top players in the global bicycle apparels and accessories industry are Adidas AG, Giant Bicycles Inc, Specialized Bicycle Components Inc., Trek Bicycle Corporation, ASSOS of Switzerland GmbH, Rapha Racing Limited, POC Sports, Fox Head Inc, 100% Speedlab LLC, PEARL iZUMi, Manifattura Valcismon S.P.A., Black Sheep Cycling, Velocio, Pas Normal Studios, and Vaude.

Market News

  • In December 2022, Giant Bicycles’ flagship road shoe, the Surge Pro, was selected by both BikeRadar and as a “gear of the year” winner. Tested and proven by WorldTour pros, including grand tour winner Simon Yates, the Surge Pro is the lightest, most efficient road shoe ever from Giant.
  • In January 2023, POC, the Swedish cycling apparel and accessories brand, launched Propel, a pair of cycling glasses that the brand states are “designed to enhance aerodynamics and performance" by eliminating the rider's ears causing turbulence.

Global Bicycle Apparels and Accessories Market: Segmentation

By Type

  • Helmets, Jerseys, and Tees
  • Gloves, Pants, and Shorts
  • Shoes
  • Goggles and Glasses
  • Protection Gears
  • Socks
  • Others

By Category

  • Mountain Bikes
  • Road Bikes
  • City Bikes
  • Others

By Distribution Channel

  • Store-Based
  • Non-Store-Based

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

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