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Driving Apparel Market to Exceed Valuation of US$ 32.3 Bn by 2031: Transparency Market Research

Consumer Goods |

Driving Apparel Market: Introduction

Transparency Market Research delivers key insights on the global driving apparel market. In terms of revenue, the global driving apparel market is estimated to expand at a CAGR of 5.4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global driving apparel market.

Driving apparel companies are expanding their product lines to meet the increasing demand for driving apparel products. Moreover, strong product innovation among driving apparel companies with newer features in driving apparel is expected to boost the market during the forecast period. In addition, companies are adopting latest technologies to provide extra benefits and more comfort to clients, and also to boost their own efficiencies. All this is expected to have a positive impact on the global driving apparel market during the forecast period.

Driving Apparel Market: Key Segments

In terms of product, the protection gear segment is expected to dominate the driving apparel market during the forecast period. Based on growth rate, the footwear segment is projected to expand at a faster rate during the forecast period. The popularity of motorsports as a spectator sport is rapidly increasing across the world. Leading automobile manufacturers such as Ford, General Motors, DaimlerChrysler, Honda, and Toyota play a vital role in the success of the sport through dealer promotion, advertising, and also by offering financial and technological support to teams, drivers, and track operators.

Based on material, the leather segment is anticipated to hold major share and maintain the share during the forecast period. Vendors in the driving apparel industry are increasingly integrating innovative features in existing products. With increasing focus of vendors on offering more convenience to end users, the driving apparel industry is anticipated to witness numerous innovations, which will continue capturing the minds and imaginations of end users globally.

Driving Apparel Market: Prominent Regions

Based on region, the global driving apparel market can be categorized into North America, Europe, Asia Pacific, MEA, and South America.

North America is anticipated to register the highest CAGR in the future in the global driving apparel market. Key players operating in the driving apparel market in the region are adopting new technologies to provide quality products to their customers. Increasing promotional activities are also expected to have a positive impact on the market in the region. North America accounted for a dominant share of the global driving apparel market in 2020, and is likely to remain dominant during the forecast period. The major reason for this is the wide usage of driving apparel for safety purposes in motorcycle racing events such as Formula One, Indy Car, and MotoGP.

Driving Apparel Market: Key Players

Key players operating in the global driving apparel market are PUMA SE, Adidas AG, Alpinestars S.p.A., Dainese S.p.A., Fox Head, Inc., Scott Sports SA, Thormx, Baoxiniao Holding Co Ltd., Under Armour, Inc., LeMans Corporation, and Nike Inc., among others.

Global Driving Apparel Market: Segmentation

Driving Apparel Market, by Product

  • Clothing
  • Footwear
  • Protection Gear

Driving Apparel Market, by Material

  • Leather
  • Synthetic
  • Natural Fiber

Driving Apparel Market, by Vehicle

  • Two Wheeler
  • Four Wheeler

Driving Apparel Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

About Consumer Goods Industry at Transparency Market Research

The market intelligence reports by TMR of the consumer goods industry cover the ever-evolving dynamics of the industry with respect to economic growth, globalization, and changing lifestyle. This, along with cultural mindsets that deeply influence consumer-purchasing behavior is duly comprehended in our reports pertaining to the consumer goods industry.

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