According to the most recent research conducted by Fact.MR, the riding gear market is expected to grow at a CAGR of 6.84 percent from 2021 to 2031.
Riding gear’s primary goal is to protect riders from serious injury by increasing abrasion resistance and reinforcing armour at critical contact points. Boots go a step further by providing extra ankle stability and grip, as well as providing protection and easier access to the rear brake lever.
Increased motorcycle sales, particularly in Asia-Pacific, and end users’ preference for and awareness of the greater safety and comfort provided by riding gears are some of the factors driving the market’s growth. In developed economies, high-capacity performance bikes account for a significant portion of sales, and they are primarily purchased by enthusiasts rather than daily commuters.
Motorcycle sales have been steadily increasing in recent years, owing to the affordable availability of 300-400cc bikes in emerging markets. The entry of well-known motorcycle brands like Harley Davidson, Ducati, and Aprilia into these countries aided the growth of the riding gear industry.
Who are the Key Manufacturers of Riding Gear?
Some of the leading manufacturers and suppliers of riding gear include
- Dover Saddlery
- Kerrits
- AGV
- Alpinestars SPA
- FLY RACING
- Fox Racing
- HKM Sports Equipment GmbH
- Kushitani Hamamatsu
- Ride Icon
- Royal Enfield Gear
- Spartan ProGear
- Rynox Gears India Pvt Ltd
Coronavirus has had a significant impact on the global economy, including the riding gear industry. In China, the epicentre of the COVID-19 outbreak, many OEMs have manufacturing facilities. As a result of the world governments’ lockdown regulations, the production of bicycles, accessories, and riding gear was halted. Bike and riding gear consumption has nearly halved as a result of the lack of movement. In areas where adventure sports are popular, the pandemic disrupted the distribution channel.
While COVID-19 casts doubt on the future, the gradual opening of economies and relaxation of lockdown measures are increasing demand for motorcycles due to a shift in consumer preference, as people avoid public transportation and prefer motorcycles to other automobiles in developing countries in the region.
Key Segments
- By End-Use
- Motorbikes
- Race cars
- Horse Riding
- Others
- By Gender
- Male
- Female
- By Material Type
- Synthetic Textile
- Leather
- Mesh
- Plastic
- Carbon Fiber
- Others
- By Component Type
- Jackets
- Pants
- Helmets
- Gloves
- Knee pads
- Boots
- Face Shield
- Others
Outlook for the Asia-Pacific Riding Gear Market
Asia-Pacific is one of the world’s largest motorcycle markets. However, sales in key markets like India and China, as well as other emerging regions like Bangladesh, have remained stable over the last two years. Due to investments by Indian motorcyclists in the region, Bangladesh motorcycle sales have increased since 2016.
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