Globally, rise in bicycle sales and the number of cyclists is increasing the demand for cycling apparel. Moreover, rise in health consciousness and increase in adoption of green transportation among consumers is also fuelling the demand for cycles across the globe, which in turn is driving the demand for cycling apparel. Rise in e-commerce and third-party online sale of cycling apparel is propelling the global cycling apparel market.
Based on product type, the global cycling apparel market can be segmented into topwear, bottomwear, gloves, and accessories. The topwear segment can further be sub-segmented into jerseys, rain jackets, t-shirts, body insulators, gloves, socks, and overshoes. Likewise, the bottomwear segment can be further split into bib shorts, tights & pants. In terms of consumer, the global cycling apparel market can be segregated into men and women. Based on distribution channel, the cycling apparel market can be bifurcated into online channel and offline channel. The offline channel can be further sub-segmented into sports variety stores, franchisee stores, sports retail chains, modern trade, etc. The online channel segment can further be sub-segmented into direct-to-consumer channel, company websites, and third-party online channels.
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Geographically, the global cycling apparel market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is expected to be a prominent market for cycling apparel during the forecast period. The U.S. is expected to lead the market in North America from 2018 to 2026, followed by Canada. Europe is a significant market for cycling apparel. Germany is expected to be a leading cycling apparel market in the region in the next few years. The U.K. and France are other significant markets in Europe. The U.K. is witnessing a rise in demand for cycles. In January 2016, according to the sport’s governing body in the U.K., British Cycling, more than two million people across the U.K. cycle at least once a week, which is increasing consistently.
According to British cyclist retailer Halfords Group plc, sale of cycles in the U.K. have risen by 11.0% till March 27, 2015 and is increasing. According to the U.K., statistics body ONS (Office of National Statistics), sales of cycles manufactured in the U.K. have risen by 69.0% in 2014. In January 2016, the U.K.-based cycling apparel manufacturer Rapha Racing Ltd, a cycling apparel supplier of Team Sky pro road bike team, informed that it’s cycling apparel sales and cycle sales have risen by more than 30.0% per annum for more than 11 years. All these factors are increasing the demand for cycling apparel in the U.K. and across Europe in general.
Major companies operating in the global cycling apparel market include Adidas AG, ASSOS of Switzerland GmbH, Black Sheep, Upland Sports Group, Giant Manufacturing Company, Rapha Racing Ltd., Specialized Bicycle Components, Trek Bicycle Corporation, Velocio International, Ornot, and Halfords Group plc.
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