Driving apparel market to be $18.56 bn by 2025: report

27 Dec '17

1 min read

Courtesy: Transparency Market Research Analysis, 2017

The global market for driving apparel, including footwear, clothing and protection gear, is projected to rise at 5.3 per cent compound annual growth rate (CAGR) from 2017 to 2025, says a new report. The market, valued at $12.03 billion in 2016, is expected to reach $18.56 billion by 2025 end. The protection gear segment held half the market share in 2016.

Asia Pacific is the most attractive market for driving apparel and generates the maximum revenue, says the report by Transparency Market Research (TMR), an Albany-based global market intelligence company providing business information reports and services.

Other main markets for driving apparel are North America, Latin America, Europe and the Middle East and Africa. Key players are Alpinestars S.p.A., Fox Head Inc., Dainese S.p.A., PUMA SE, Scott Sports SA, ThorMX and Adidas AG.

The rise in use of protection gear and safety accessories among vehicle riders concerned about their safety and soaring interest in motorsports is pushing growth of this market, a press release from the company said citing the report.

However, local manufacturers offering poor quality products at cheaper rates is proving detrimental to the market, the report added. (DS)

Fibre2Fashion News Desk – India

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