Racing Apparel Market Size, Share, Forecasts Analysis, Company Profiles, Competitive Landscape and Key Regions 2029

 The global racing apparel market size is projected to witness unprecedented growth in the forthcoming years. The rising popularity of outdoor sports and the surging instances of bike and car crashes in outdoor sports events are anticipated to fuel the demand for racing apparel and foster market growth. Fortune Business Insights™ has presented this information in an upcoming report, titled, “Racing Apparel Market, 2022-2029”.

Innovations in racing apparel and the incorporation of innovative technologies are expected to provide immense traction to the market. For instance, the ‘Tech-Air technology’ introduced by Alpinestar S.p.A. features an incorporated airbag system under the liner of the jackets to ensure upper body protection. The durable and lightweight jacket’s components are tested to work in all kinds of weather.

COVID-19 Impact-

The novel coronavirus pandemic has disrupted the growth of several industries and markets, including the racing apparel market. The stringent lockdown and curfew restrictions imposed by governments of several nations resulted in the halted outdoor sports activities. Additionally, production levels of racing apparel declined during the pandemic, which affected the market growth. Disruptions in the global supply chain networks aggravated the situation further. Nonetheless, vaccines are available in the market, and the market is gradually recovering. It is expected to witness steep growth post-pandemic.

Fortune Business Insights™ lists out all the racing apparel market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Alpinestars S.p.A
  • Fox Head Inc.
  • Dainese S.p.A
  • Yamaha Motor Corporation
  • OMP Racing S.p.A
  • BMW SA
  • Ferrari S.p.A
  • Blackchrome Sportswear

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https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/racing-apparel-market-104426

Report Coverage-

  • Highlights valuable information on future opportunities and strategies for growth.
  • It profiles key players operating in the market and provides information based on their rankings.
  • Highlights new advancements in production technologies.
  • Showcases new product launches, expansions, and partnerships, in the market.
  • The report also assesses the impact of the COVID-19 pandemic.

Drivers & Restraints-

Rising Popularity of Outdoor Sports to Augment Market Growth

The rising popularity of outdoor sports worldwide has augmented the instances of bike and car crashes during these events. The ‘Overall Suits’ are advised to be worn during these events as they are made up of fire-resistant materials. Racing apparel and overallsuits are manufactured under strict standards to ensure the highest safety for the driver. The rising demand for racing appareldue to the increasing outdoor sports popularity is anticipated to bolster the global racing apparel market growth. Additionally, the rising consumer awareness for safety while driving during races is expected to foster market growth.

The development of modern technologies and the incorporation of advanced technologies to manufacture top-quality racing apparel is anticipated to boost the market growth. The development of advanced fire-resistant materials is also set to flourish market growth.

However, the high costs of racing apparel may hinder the market growth.

Regional Insights-

Asia Pacific to Witness Swift Growth Stoked by Surging Sports Championships

North America is projected to attain a huge global racing apparel market share. The rising awareness of motorsport safety and the high popularity of sports events such as NASCAR is predicted to fuel the market growth. Additionally, the high-income groups present in the region are expected to complement market growth.

Asia Pacific is anticipated to witness swift growth in the upcoming years. The rising numbers of international and domestic sports championships are estimated to be the key growth drivers for the region. The Federation of Motor Sports Clubs of India’s Annual Report 2018-2019 estimated that around 439 events were permitted during the period. Additionally, the rising disposable income levels of the regional population are expected to boost the demand for racing apparel and stimulate market growth.

Segmentation-

On the basis of apparel material, the market is bifurcated into natural fiber and synthetic fiber. On the basis of end-user, the market is segmented into females and males. On the basis of application, the market fragments into cycle racing, car racing, motorcycle racing, and others. Geographically, the market is classified into five major regions- South America, North America, Asia Pacific, Europe, and the Middle East & Africa.

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https://www.fortunebusinessinsights.com/enquiry/queries/racing-apparel-market-104426

Competitive Landscape-

Key Players Launch New Products to Incite Growth

The market is fairly consolidated and comprises key players operating at global and regional levels. These players are emphasizing on new product launches, technological advancements, and research and development activities, to solidify their market rankings. They are also strategically collaborating and forming partnerships to enhance their market presence. For instance, TVS Motor Company unveiled its new TVS Racing Performance Gears in October 2019. The range includes pants, gloves, gloves, boots, and helmets.

The Global Racing Apparel Market Research/Analysis Report Contains Answers to your following Questions:

  • Which Manufacturing Technology is used for Racing Apparel? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Racing Apparel Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Racing Apparel Market? What Was Capacity, Production Value, Cost and PROFIT of Racing Apparel Market?
  • What Is Current Market Status of Racing Apparel Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Racing Apparel Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Racing Apparel Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Racing Apparel Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Racing Apparel Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Racing Apparel Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Racing ApparelIndustry?

Industry Developments-

  • November 2019: Alpinestar launched its new sports apparel collection that includes hoodies, boots, jackets, and gloves.

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/racing-apparel-market-104426

 

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