Skip to main content

Driving Protection Gear Market to Reach US$ 10,111.7 Mn by 2026 | CAGR of 5.3%

the global driving protection gear market is expected to reach US$ 10,111.7 Mn by 2026, expanding at a CAGR of 5.3% from 2018 to 2026. In terms of volume, the market is expected to reach 315,621‘000 units by 2026, expanding at a CAGR of 2.7% from 2018 to 2026. The market is segmented by regions into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.
The driving protection gear market in Asia Pacific is the largest in the world and is expected to grow at a healthy rate over the forecast period. Helmets are the most significant driving protection gear in the Asia Pacific region and hold a major market share among various driving protection gear products. China, Japan, and India are major markets in the Asia Pacific driving protection gear market. India is the largest two wheeler market in the world, followed by China. China is the largest four wheeler market in the world.
Rising millennial population, increasing disposable income, and a change in lifestyle is increasing the demand for premium motorcycles in India. In India, as per Society of Indian Automobile Manufacturers (SIAM), motorcycles above 150cc are classified as premium motorcycles. From FY13 to FY17, premium motorcycle sales in India have increased at a CAGR of 31.0% and the demand is expected to continue in future. The market share of the premium segment is less in the overall motorcycle sales, which is about 12-15.0%; hence, there is room for growth of premium motorcycle sales in India. Consumers of these high-end super bikes are brand conscious and prefer branded driving protection gear products. Therefore, global driving protection gear market players in India have a good growth opportunity. Asia Pacific countries have a large number of small and medium third-party driving protection gear product manufacturers.
The driving protection gear market in Europe is the second largest in the world and is expected to grow moderately over the forecast period. Helmets hold a major share in the driving protection gear product market. According to European Association of Motorcycle Manufacturers (ACEM), Italy is the largest two wheeler market, followed by France, Germany, Spain, and the U.K. In terms of four wheelers, Germany is the largest market in Europe followed by U.K., France, Italy, and Spain. Porsche AG is a global sports car manufacturer based in Germany. Porsche AG sold 80,262 cars in 2017 and 77,216 cars in 2018 in Europe. In 2017, the number of high-end cars sold by Porsche AG stood at 28,317, 14,267, 5,822, 5,534, and 3,054 in Germany, U.K., France, Italy, and Spain/ Portugal respectively. Rising sale of premium motorcycles and sports cars in Europe is increasing the demand for branded driving protection gear products.
The driving protection gear market in North America holds the third largest share in the global driving protection gear market and is expected to grow moderately over the forecast period.
Helmets hold the largest share in the North America driving protection gear products market. The U.S. is the largest market in North America followed by Canada. As per Insurance Institute for Highway Safety (IIHS), motorcycle sales in the U.S. increased from 8,372,614 in 2016 to 8,392,682 in 2017. In the overall motorcycle sales in the U.S. in 2017, sales of touring, sport touring, sport, and supersport motorcycles stood at 1,769,520, 190,113, 425,322 and 649,858 respectively,  holding a market share of 21.1%, 2.3%, 5.1%, and 7.7% respectively. Thus, rise in sale of premium motorcycles in the U.S is driving the demand for branded driving protection gear products.
The South America driving protection gear market is the fourth largest in the world. Brazil continues to be the largest driving protection gear market in South America and the market is expected to expand during the forecast period.
Middle East &Africa driving protection gear market is the smallest in the world. GCC and South Africa are major markets in the MEA driving protection gear market.
The study provides a conclusive view of the global driving protection gear market by segmenting it in terms of product type, material type, vehicle type, consumer group, and distribution channel. In terms of product type, the market has been classified into helmet, armor, gloves, knee protection, elbow protection, and others. The others category includes driving goggles, kidney belt, etc. Based on material type, the market has been segmented into leather, synthetic, and natural fibers. Based on vehicle type, the market is segmented into two wheelers and four wheelers and based on consumer group, the market is classified into men and women. In terms of distribution channel, the market is segmented into online and offline.

The report highlights major companies operating in the global driving protection gear market including Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., SCOTT Sports SA, Lemans Corporation, Sparco S.p.A, Leatt Corporation, EVS Sports, Troy Lee Designs, and OMP Racing S.p.A.

Comments

Post a Comment

Popular posts from this blog

Mobile Printing Market: Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights

Mobile printing let end-users print documents when they are in traditional network of away from it The mobile printing enables end-users to print from their devices to any mobile printing application enabled printer located in the office, public print location or at home. Mobile printing is wireless and provides high degree of efficiency to its end-users. It uses 802.11 networking or Bluetooth to communicate and can be used on both local area network (LAN) and wide area network (WAN). Thermal based technology is being used in mobile printing to provide high quality output. There are two types of thermal printing methods which are uses in mobile printing namely direct thermal and thermal transfer. With the help of mobile printing technology the security of the device and system will be enhanced, as an individual is able to set password to prevent unauthorized access, in case of remote printing over internet.. Furthermore, mobile printing reduces need for individual printers on every d
Post a Comment
Read more

Growing Industrialization will Influence the Oil Condition Monitoring Market Growth

Major players in the global oil condition monitoring market are Bureau Veritas, Intertek, Parker Hannifin Corporation, Castrol Limited, Spectro Analytical Instruments, General Electric Company, and Insight Services Unveils TestOil Oil is an important resource used in various machineries and engines in order to provide lubrication and for temperature regulation. After prolonged usage, oil starts to lose out on its properties and becomes less functional. Using such oil can damage the engine or machinery in which it is being used. Hence, it is necessary to keep a check on the condition of oil and replace or upgrade it after its optimum usage. Oil condition monitoring means keeping a timely check on the quality of oil that is being deployed in the system and taking the necessary steps so that the oil serves its purpose to the fullest. The monitoring also helps in increasing the efficiency of the machine, reduces downtime, and reduces cost, thereby increasing profits. Request A Sampl
Post a Comment
Read more

Communications Electronics Cooling Systems Market Growth to be Stimulated by Brisk Technological Expansions

The Electronic cooling systems have wide range of applications in many industrial domains for their nature of keeping the electronic device cool and maintain the temperatures optimally required by the device. There are various cooling techniques that includes heat sinks, thermoelectric coolers, forced air systems, fans, and heat pipes. However in case of low environmental temperatures, the devices may require to heat it to maintain the temperature required by the device to achieve satisfactory operation. Also the electronic circuits generate lots of heat and thus maintaining the temperature increases the reliability and shelf life of the device. These electronic cooling systems have wide applications in personal computers, soldering, batteries, and other electronic component and devices. There are software that are designed for thermal simulation of electronic devices. There are various methods through which heat is being sink in the devices that includes cold plates, fans, high condu
Post a Comment
Read more