The expansion of the global motorcycle market and increase in focus on rider safety act as the key driving forces of the global motorcycle footwear market.
WILMINGTON, Del., April 5, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Motorcycle Footwear Market by Product Type (Casual Boots, Adventure & Touring Boots, Racing Boots, and Motocross Boots), Gender (Men and Women), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global motorcycle footwear market size was valued at $2.2 billion in 2022, and is projected to reach $4.1 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
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Prime Determinants of Motorcycle Footwear Market Growth
The growth of the global motorcycle footwear market is driven by factors such as rise in demand for specialized protection motorcycle footwear and increase in sales of motor cycles globally. However, high costs and availability of protection gear alternatives restrict the market growth. On the contrary, high growth potentail in emerging economies and surge in demand for motorcycle are expected to offer new opportunities for the expansion of the global market in the coming years.
Report Coverage & Details
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size In 2022 | $2.2 billion |
Market Size In 2032 | $4.1 billion |
CAGR | 6.2 % |
No. Of Pages In Report | 230 |
Segments Covered | Product Type, Gender, Distribution Channel, And Region |
Regional Scope | North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Argentina, Saudi Arabia, South Africa, And United Arab Emirates |
Drivers | Rise In Motorcycle Ownership Increase In Interest In Motorcycling Culture Stringent Safety Regulations |
Opportunities | Customization And Personalization |
Restraints | High Cost Limited Product Awareness |
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The adventure & touring boots segment to maintain its leadership status throughout the forecast period
By product type, the adventure & touring boots segment dominated the market in 2022 accounting for more than two-fifths of the market share and is expected to dominate the market during the forecast period. This is attributed to the fact that in the past decade, the motorcycling culture for long tours among riders has gained popularity. Therefore, the requirement for safety accessories such as touring boots has increased in the market. Manufacturers have also recognized the demand for touring boots and therefore have started to introduce new products in the market to gain the interest of the consumers.
The men segment to maintain its leadership status throughout the forecast period
By gender, the men segment dominated the market in 2022 accounting for more than fourth-fifths of the market share and is expected to dominate the market during the forecast period. This dominance is attributed to men's historical presence in the motorcycle community as well as their increased engagement in riding activities. Motorcycle gear has always been intended to meet the demands and preferences of males, including size, style, and utility.
The offline segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the offline segment dominated the market in 2022, accounting for more than fourth-fifths of the market share and is expected to maintain its dominance during the forecast period. Offline stores serve as important hubs for riders and enthusiasts to physically engage with and evaluate a wide selection of motorcycle safety accessories. The success and domination of offline stores in the motorcycle footwear industry stems from their ability to provide a hands-on experience, allowing buyers to feel the size, quality, and comfort level of motorcycle footwear before purchasing.
Europe to maintain its lead position during the forecast period
Region wise, Europe dominated the market in 2022 accounting for less than one-third of the market share and is expected to maintain its dominance during the forecast period. Europe features a huge number of motorcycle enthusiasts, an extensive motorcycling culture, and a strong infrastructure for motorcycle-related events. In addition, implementation of stringent safety laws and a strong awareness of the significance of protective gear among riders drive the demand for motorcycle footwear in Europe. Furthermore, the presence of significant market players as well as constant technical improvements contribute to the region's dominance in the motorcycle footwear industry.
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Leading Market Players: -
- Alpinestars
- SIDI
- TCX Boots
- Dainese
- REV'IT!
- Gaerne
- Forma Boots
- Daytona Boots
- Falco
- O'Neal
The report provides a detailed analysis of these key players in the motorcycle footwear market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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