WILMINGTON, DE / ACCESSWIRE / December 22, 2022 / Transparency Market Research Inc. - According to a study published by Transparency Market Research, the global motocross gear market is expected to grow at a compound annual growth rate (CAGR) of 6.0% during the forecast period between 2022 and 2031.
Motocross gear are products used in motocross sports, which is an off-road activity, where participants use purpose-built dirt bikes. The sport first originated in the U.K. and takes place on an enclosed off-road circuit. Motocross gear are used by riders to protect different parts of the body, such as ankles, feet, calves, head, and the shin.
Leading market players focus on generating revenue and gain an edge over competitors by launching new products. For example, Fox Racing, in September 2022, announced the launch of new motocross boots comprising a patented buckle closure system. These boosts are expected to offer improved grip, protection, and durability, and are available in different sizes.
Prominent players are also adopting strategies, such as collaboration with other players, to expand their presence and improve their revenue shares.
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Key Findings of Market Study
- Rise in Demand for Helmets from Motocross Riders to Augment Industry Growth during Forecast Period: Based on product, the global market is segmented into jerseys and pants, helmets, boots, goggles, gloves, knee pads, chest protectors, neck braces, and elbow guards. The helmets segment is expected to emerge as the dominant segment during the forecast period since it is the most important gear for any participant in a motocross competition. Governments have made it compulsory for riders to wear helmets, which is expected to increase product demand and help in the growth of the segment.
- Increase in Number of Men Participating in Motocross Events to Fuel Motocross Gear Market Growth during Forecast Period: Based on end-use, the global market is classified into men and women. The men segment is expected to lead during the forecast period owing to the increasing number of men participating in motocross events, which could help boost motocross gear market demand.
Motocross Gear Market - Key Drivers
- Increase in safety concerns due to a surge in accidents is one of the factors driving the global motocross gear market
- Rise in sales of motorcycles is expected to boost market development during the forecast period
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Motocross Gear Market - Regional Insights
- Europe is projected to emerge as the dominant market during the forecast period due to the rise in stringent safety regulations in countries such as Germany and the U.K.
- North America is expected to witness significant growth in the market during the forecast period due to growth in the baby boomer population in countries such as the U.S. and Canada
Motocross Gear Market - Key Players
The global market is fragmented owing to the presence of several international and local players. Entry of new players is likely to intensify the competition during the forecast period.
Prominent market players are investing in research and development undertakings to produce improved motocross gear that would meet customer requirements. Increase in demand for these products could contribute to the market growth during the forecast period.
Some of the key players in the market for motocross gear are Alpinestars, FLY Racing, Fox Racing, AXO, and Acerbix Italia SpA.
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The global motocross gear market is segmented based on:
- Product Type
- Jersey and Pants
- Helmets
- Boots
- Goggles
- Gloves
- Chest Protectors
- Knee Pads
- Elbow Guards
- Neck Braces
- Others (Palm Protectors, Socks, Gear Bags, etc.)
- End-use
- Women
- Men
- Distribution Channel
- Online
- Company-owned Websites
- E-commerce Websites
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Other Retail Stores
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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