The expansion of the automotive industry and the growing popularity of off-road and motocross sports are driving sales of motocross equipment. According to a recent report by Future Market Insights (IMF), the motocross gear market is expected to exceed a valuation of US $ 12.5 billion at a CAGR over 7.2% until 2031.
The increase in motocross and motocross racing activity has fueled sales of motocross equipment over the years. While the awareness regarding the benefits of motocross protective gear such as guards, armored jackets, chest protectors, helmets, etc., works in favor of manufacturers, the increasing need for riding gear such as as jerseys, jackets and pants further increases the expansion of the market.
Over the years, the increase in motocross and motocross racing has fueled sales of motocross equipment. As the awareness of safe riding increases among bikers, the demand for riding equipment such as jerseys, jackets and pants is also contributing to the growth of the market.
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With the increase in fatal accident cases, helmets have become the preferred choice of gear bikers. In addition, strict government rules regarding the consequences of not wearing a helmet are being seriously considered by bikers, resulting in increased sales of motocross equipment. .
Injuries to the extremities are common in motocross crashes, according to a survey released by the Digital Common Organization. According to the National Center for Biotechnology Information (NCBI), the overall incidence of motocross injuries is over 90 per thousand.
Findings like this help raise awareness among bikers. It also stimulates the demand for protective equipment. Based on these factors, the market is expected to experience substantial growth over the next few years, reaching delivery of 57,326 units until 2031.
Key Points From Motocross Gear Market Research
- In terms of product type, helmets are expected to dominate the market, growing at 15.7% CAGR until 2031.
- The United States will dominate the North American market, which will continue to be the nerve center of the largest motocross gear market in the world.
- The increased demand for protective equipment such as armored vests, back protectors and other similar items will help manufacturers prosper.
- Germany set to maintain dominance as the world’s second largest motocross gear market
- Asia Pacific will become the fastest growing motocross equipment market in the world, with India and China leading the growth in the region.
- The UK, France, Canada and Japan will be in the spotlight for players in the motocross gear industry.
- Men’s demand for motocross gear is booming, propelling sales across the world.
“As there has been a noticeable increase in the number of professional motocross riders, the massive adoption of a wide range of riding and protective gear is on the cards. This trend is driving sales of motocross gear. across the world. Additionally, manufacturers are adding fashionable items to their portfolios to appeal to runners, creating impressive room for expansion, “ says an IMF analyst.
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Impact of COVID-19 on the market
The coronavirus outbreak has caused an economic collapse by disrupting business activities in a wide range of industries. Retail has suffered a setback. The decline in overall discretionary spending represents a temporary challenge for market participants.
Consumers were subjected to the strictest limitations, resulting in a significant drop in the increase in income year over year. Due to the global lockdown, complete shutdowns of all industries and the slowing industrial environment, productivity suffered during the outbreak. Sales were framed by online retailing.
As a result, players are focusing their efforts on increasing internet penetration, as this allows them to reach a wider consumer base faster and at lower cost.
Major motocross equipment manufacturers are focusing on differential strategies and advertising that have driven motocross equipment sales growth globally.
The main players in the motocross gear market are O’NEAL USA, Scott Sports, Aero Stitch, Fox Racing, Answer Racing, AGVSports America LLC, FLY Racing, Joe Rocket Jackets, Ride Icon, Dainese, Shift MX, TacknRider, Fox Head Inc., LeMans Corporation, ACERBIS, AXO, LSD Industries, LLC, KTM Sportmotorcycle GmbH and Troy Lee Designs, among others.
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Future Market Insights (FMI) is a leading provider of business information and advisory services, serving clients in more than 150 countries. IMF is headquartered in Dubai and has delivery centers in the UK, US and India. IMF’s latest market research and sector analysis reports help companies face challenges and make critical decisions with confidence and clarity amid fierce competition. Our personalized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continually monitors emerging trends and events across a wide range of industries to ensure our clients are preparing for the changing needs of their consumers.
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