Wednesday, September 5th, 2018 - Fact.MR

The Asia Pacific cycling apparel market is likely to witness steady growth on the back of growing interest in cycling and rising awareness on safety and comfort. Growing cycle sales, combined with availability of cycling apparel in Tier II cities are among the key developments this niche, yet growing marketplace. The shift from vehicles to cycles as a means of commute is likely to provide an impetus to market growth, according to a new Fact.MR study. The study remains bullish on the prospects of Asia Pacific cycling apparel market over the course of the forecast period 2018-2028.

The APAC cycling apparel market is likely to be driven by growing preference for cycling that is taken up as health promoting activity and China is anticipated to take the lead in APAC cycling apparel market over the forecast period. In countries like China and India, number of people for adopting cycles as sustainable means of transport is likely to increase in the forthcoming years, thereby creating growth avenues for APAC cycling apparel market.

Growing number of the cyclist deaths has generated a sense of hesitancy amongst people, which in turn is hampering the growth of APAC cycling apparel market. Although the percentage of population that are preferring cycling has increased, road accident aspect is anticipated to decrease the count in near future, which in turn would impede the usage of cycling apparel.

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The study also offers insights on the global cycling apparel market, and projects the market to grow at approximately 5.2% CAGR over the forecast period, 2018-2028. New growth opportunities are provided to the cycling apparel market across the globe by third-party online sales channel, with pervasiveness of the e-commerce, thereby enabling manufacturers to leverage out-reach of the online channels for touching base-remote customers in the inaccessible areas.

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Retail outlets are likely to witness addition of new cycling apparel, especially for the electric bikes, which includes instantly detachable body armor parts. According to ITDC (Institute for Transportation and Development Policy), electric bicycles are holding a significant percentage currently and are anticipated to touch approximately 11% by the end of 2028. Albeit high-costs related to this product, preference for electric cycles is likely to influence usage of cycling apparel, thereby supporting the expansion of cycling apparel market over the forecast period.

Pervasiveness of the social media has largely boosted the prominence scope for several products and brands, which in turn creates lucrative growth avenues for cycling apparel market. Social media has been proactively supporting manufacturers in surging sales of cycling apparel and moreover is trending across global supply chain of the cycling apparel industry.

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