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The global driving apparel market was worth $11.8 billion in 2015 and is expected to reach $17.2 billion by the end of 2024, experiencing a 4.6 percent compound annual growth rate (CAGR), according to a report published by Transparency Market Research.
Driving apparel includes gear for protecting the user from injury during road accidents—motorcycle jackets, pants, shoes and helmets, for example. Driving apparel is thicker and heavier than normal clothing and may come with weatherproof closures and pockets, substantial zippers, higher collars and armor.
The global market is segmented into clothing, footwear and protection gear. The report expects the clothing segment to experience the highest CAGR, 5 percent, between 2016 and 2024.
And Asia Pacific is expected to account for about 36 percent in the global driving apparel market by the end of 2024. Reasons for growth in sales of protective gear may include steady economic development and increased desire for protective apparel, including jackets and helmets. Availability of driving apparel from online retailers and increasing safety norms being imposed by regulatory authorities is likely to fuel market growth.
Key players in the driving apparel market include Alpinestars S.p.A. (Italy), Dainese S.p.A. (Italy), Fox Head Inc. (U.S.), Scott Sports SA (Switzerland) and ThorMX (U.S.) among others.
The report states that the quality of protection can vary widely across companies. When efforts to lower cost result in compromised quality, brand value and market growth may be stymied. However, due to advances in manufacturing processes and materials, innovative driving apparel using cutting-edge technologies is expected in the coming years.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services.