Global Driving Apparel Industry was valued at USD 12.8 Billion in the year 2017. Global Driving Apparel Industry is further estimated to grow at a CAGR of 5% from 2019 to reach USD 18.63 Billion by the year 2025. The North America region holds the highest Industry share in 2017 and the Asia Pacific is considered as the fastest growing Industry in the forecasted period. At the country level, Germany is projected to grow strongly in the coming years due to increased investment by R&D.
Major market players in Driving Apparel Industry are Alpinestars S.p.A, Dainese, Fox Head Inc., Scott Sports Sa, LeMans Corp, Puma Se, Adidas AG, Baoxiniao Holding Co. Ltd., Spartan ProGear Co., Solace Gears, and brief information about 10 companies will also be provided in the report. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT analysis of Driving Apparel Industry:
Safety regulations imposed by authorities
Popularity of motorsports players. For e.g. Formula One
Innovations making accessories costly
Small scale manufacturers hindering the organized sector
Increasing the number of driving enthusiasts
Surge in adoption of protection gear
Intense competition among the producers
The Global Driving Apparel Industry is segmented as –By Product, Material, Vehicle Type, and Region. The Product segment is divided into three segments – Clothing, footwear, and protection gear. Protection gear contributes to the highest Industry share as they are thicker and heavier than normal jackets with waterproof closures. The Material segment is divided into leather, synthetic, natural fiber. Leather segment has the highest share in the Industry as a result of growing inclination towards a healthy and active lifestyle.
• Natural Fiber
• Protection Gear
By Vehicle Type
• Four Wheeler
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa