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"The Global Driving Protection Gear Market Is Estimated To Propagate From US$ 8.65 Bn in 2018 to US$ 13.66 Bn by 2028 at a CAGR of 5.2% During the Forecast Period."
Driving protection components are equipment and apparatus that helps to safeguard the individuals from destruction while driving. The protecting outfit may consist of certain sorts of boots, gloves, pants, and jackets. The growing percentage of mishaps and accidents has headed to improving driving protection because of which the government has made it compulsory to wear personal protecting gear, for instance, defensive outfit and helmets.
Rising Concerns about Road Safety and Protection is a Leading Factor Encouraging the Global Driving Protection Gear Market
The Global Status Report on Road Safety 2018 as stated by the World Health Organization, in the top ten nations having the leading number of 2 and 3 wheelers, motorbikes consist of above 70.0% of the national vehicle fleet. According to WHO, precise helmet usage can lead to a 42.0% reduction in the risk of fatal injuries and a 69.0% reduction in the risk of head injuries. Motorcycle mishaps have always been preventable. Furthermore, wearing a helmet while riding a motorcycle has turned into a compulsory rule in many nations and customers have stringently started following the rules to circumvent high punishments/charges imposed by the governmental authorities, along with to safeguard them from severe injuries during accidents. This is a major factor that is helping to accelerate the growth of driving protection gear market over the estimated period.
The sales of motorcycles have been incessantly growing since 2018, as purchasers in the developing nations were capable to buy 300-400 cc bikes at comparatively affordable expenses. In addition, growing motorsports following and progressing requirement for superbikes across the globe has also urged the demand. Moreover, driving protection gear products have been constantly exhibiting advances from the makers, to attract and capture a viable market stake in the vastly segmented market. Amplified upgrading in product innovations like helmets incorporated with Bluetooth facility, which facilitates a person to respond to phone calls, and get driving directions, have further boosted the demand of these types of equipment.
Nonetheless, rigorous competition for driving clothes from the disorganized division is inhibiting the expansion of the market. However, discoveries and improvements in the production methods to obtain protection gears employing innovative technologies are anticipated to propel the augmentation of the market in approaching years.
The Helmet Subdivision was leading the Driving Protection Gear Market with a Market share of 27.30% in 2019
The product type division is classified into armor, knee protection, gloves, helmet, and elbow protection. The helmet subdivision has conquered the market in 2019. This is because of the strict government regulations and growing awareness about road safety.
Asia-Pacific to Experience Stimulating Requisition for Superior Driving Protection Gear
Asia Pacific region conquered the global driving protection gear market with US$ 3,444.1 Mn in 2019. Finest quality products in driving protection gear like helmets are graded as one of the most favored driving protection gear. In recent years, the evolution of the middle class and high-end consumers have been registered in the Asia Pacific that creates further demand for superior products in the driving protection gear market. At present, the middle class or upper-middle-class populace is assessed at about 150 MN in the Asia Pacific and is expected to grow by 100 million in the next few years. This also presents an opportunity in driving the protection gear market with increasing middle and upper-middle-class population. Moreover, in Asia Pacific region, customers are price sensitive and favor low-priced safety equipment products.
The European region seized the subsequent leading place in the market after the Asia-Pacific region. Europe is the fastest mounting region as a consequence of the intensifying sale of superior motorbikes and sports-cars in the region which is accumulating the requisition for branded riding safety kit products. The market for driving protection gear in North America and Europe is high because of high motorcycles demand, as a result of an upsurge in recreational rides, growth in motorcycle racing contests, and rising road traffic overcrowding. This, in turn, has augmented the requirement for driving protection gear.
Several organizations are concentrating on organic development approaches such as product approvals, and product launches and others for instance events and patents. The inorganic development approach observed in the market was mergers and acquisitions, and collaborations, partnerships. These strategies have concreted the way for the improvement of industry and consumer base of market companies. The leading companies from in driving protection gear market are estimated to have beneficial evolution prospects in the future with the escalating requisition for in driving protection gear market in the global market.
Some of the leading companies in the driving protection gear market OMP Racing S.p.A, Lemans Corporation, SCOTT Sports SA, Leatt Corporation, Fox Head Inc., Troy Lee Designs, Sparco S.p.A, Dainese S.p.A, EVS Sports, and Alpinestars S.p.A,
Global Driving Protection Gear Market, by Product Type
- Knee Protection
- Elbow Protection
Global Driving Protection Gear Market, by Material Type
- Natural Fibers
Global Driving Protection Gear Market, by Vehicle Type
- Two Wheelers
- Four Wheelers
Global Driving Protection Gear Market, by Consumer Group
Global Driving Protection Gear Market, by Distribution Channel
Global Driving Protection Gear Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa