Market Synopsis of Mountain bike footwear & socks Market:
Globally, the market for mountain bike footwear & socks is growing at a CAGR of 5.57% during forecasted period (2017-2024). Mountain bike footwear & socks market has witnessed substantial innovation in terms of new product launches along with research & development and collaboration. Also, the overall disposable income of the consumer is increasing over the past few years which in turn leads to surge in sales of Mountain bike footwear & socks during the forecast period.
The sport of mountain biking is largely male dominated, however in recent years there has been a significant growth in women participation, with more women participating in races, hitting the trail and starting “all female mountain biking” groups/communities. The advent of technological advancement in mountain biking equipment and accessories including footwear and shoes has provided a lot of comfort and convenience to participants. Apart from that, increasing acceptance of online shopping is expected to fuel the sales of mountain bike footwear & socks during the forecast period of 2017-2024. Also, the price of the product offered by the ecommerce companies is economical which is considered to be one of the significant factors for the rising growth of mountain bike footwear & socks.
The popularity of mountain biking sport is growing immensely and is no longer limited to only affluent, economic developed countries. Emerging economies of Asia and Africa specifically in countries such as India, China, Vietnam, Thailand, and South Africa, the government is investing in infrastructure development and various mountain biking clubs/communities have also emerged in these countries, thereby fuelling the demand for mountain bike sports related products and accessories including footwear and socks.
The key players in market includes Shimano, Inc. (Japan), Five Ten Footwear Company (U.S.), Diadora Sports S.r.l (Itlay), Trek Bicycle Corporation (U.S.), Louis Garneau Sports (Canada), Giro (U.S.), Cannondale (U.S.), Mavik (France), Fizik (U.S.), Northwave (Itlay)
- The global mountain bike footwear & socks market is expected to reach USD 7.15 billion by 2024
- Regionally, North America dominated the market and is projected to reach USD 3.04 billion by 2024 at a CAGR of 5.46% from 2017 to 2024 in terms of value.
- Asia Pacific is also considered to be one of the attractive markets for the mountain bike footwear & socks manufacturers and is projected to grow at the CAGR of 6.30% from 2017 to 2024.
- Among the end user, male segment will dominate the mountain bike footwear & socks market and is projected to reach USD 4.53 billion by 2024 at a CAGR of 5.05% in terms of value.
- On basis of distribution channel, Store based segment is anticipated to account for the maximum market proportion in the Global Mountain Bike Footwear & Socks market throughout the forecast period of 2017-2024. The segment is projected to reach to USD 5.56 billion by the end of 2024. Non-store based segment is projected to witness the higher growth of 7.04% in the Global Mountain Bike Footwear & Socks market during the period of 2017-2024.
The report covers brief analysis of geographical region includes
- North America
- Rest of Europe
- Australia & New Zealand
- ASEAN Countries
- Rest of Asia-Pacific
- Latin America
- Middle East
Study Objectives of Mountain bike footwear & socks Market
- To study detail of mountain bike footwear & socks market by type, by end user, by distribution channel and by region in forecasted period 2023.
- To identify the market dynamics of mountain bike footwear & socks market dynamics by drivers, restrains, opportunities and challenges.
- To analyze various factors like value chain analysis and porters five forces model.
- To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC, Latin America and RoW.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track mergers and acquisitions, strategic alliances, new product development of specified company.
- Manufacturers and distributors of mountain bike footwear & socks.
- Suppliers and traders of mountain bike footwear & socks.
- Government, associations and industrial bodies.
- Mountain bike footwear & socks
- Mountain bikes
- Mountain shoes
- Motorbike shoes & socks
- Mountain mtb shoes and socks