Cycling Gloves Market Growth Analysis, Size, Share, Regional Insights, and Forecast to 2032
The global cycling gloves market size reached USD 3.26 billion in 2023. The market is slated to surge from USD 3.41 billion in 2024 to USD 5.49 billion by 2032, exhibiting a CAGR of 6.12% during the analysis period.
Cycling gloves are made from synthetic materials such as leather, spandex, and polyester and are used for avoiding blisters, injuries, and numbness during long rides. The escalating adoption of e-bikes as they offer an eco-friendly alternative for urban commuting is set to propel product demand.
The COVID-19 pandemic had a negative impact on product manufacturing and distribution due to supply chain disruptions and the temporary closure of factories.
Fortune Business Insights™ provides this information in its research report, titled “Cycling Gloves Market, 2024-2032”.
Read More: https://www.fortunebusinessinsights.com/cycling-gloves-market-110725
Top Company in the Cycling Gloves Market:
- GIRO (U.S.)
- Trek Bikes (U.S.)
- Rapha (U.K.)
- Assos (Switzerland)
- GripGrab (Denmark)
- Altura (U.K.)
- Specialized Bicycle Components (U.S.)
- Pearl Izumi (U.S.)
- Endura (Scotland)
- Showers Pass (U.S.)
Segmentation:
Full-Finger Segment to Capture Major Share Due to Advantage of Complete Coverage
Based on product, the market is bifurcated into full-finger and half-finger. The full-finger segment is set to dominate the global market owing to the advantage of complete coverage. The gloves help protect the entire hand from injuries, blisters, and abrasions.
Male Segment to Dominate Impelled by Soaring Participation in High-intensity Cycling Activities
On the basis of end-user, the market for cycling gloves is divided into female and male. The male segment is slated to lead the global market over the analysis period due to increased participation of men in high-intensity cycling activities such as road racing and mountain biking.
Offline Segment to Record Leading Share Propelled by Mounting Consumer Preference for in-Person Shopping
Based on distribution channel, the market is segregated into online and offline. The offline segment is poised to hold a prominent market share impelled by consumer preference for in-person shopping.
Based on geography, the market for cycling gloves has been studied across North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report provides an analysis of the global market scenario on the basis of end-user, product, distribution channel, and geography. It further gives an insight into the latest trends and the major factors slated to bolster market expansion. The competitive landscape of the market has also been mentioned in the report.
Drivers and Restraints:
Escalating Popularity of Cycling as a Recreational Activity to Fuel Industry Expansion
The rising popularity of cycling as a recreational activity and for eco-friendly transportation is slated to boost cycling gloves market growth. The product demand is rising due to the mounting requirement of gloves that provide improved durability, comfort, and grip by competitive cyclists. China and the U.S. have been recorded to be the two largest consumer markets for recreational physical activity. The two markets account for ~45% of the global expenditure, according to data provided by the Global Wellness Institute in 2023.
However, affordability issues associated with high-performance gloves may hinder industry expansion.
Regional Insights:
Asia Pacific Held Major Share Owing to Soaring Development of Cycling Infrastructure Development
Asia Pacific cycling gloves market share bagged a dominant position in the global market in 2023. The dominance of the region is favored by rising emphasis on the development of cycling infrastructure by India and China.
The surging popularity of cycling is set to drive market growth in Europe. The region also exhibits a heightened emphasis on fitness, health, and environmentally friendly transportation.
Competitive Landscape:
Major Players Undertake R&D Investments to Strengthen Industry Foothold
Leading companies are making heavy investments in R&D activities. Key players are also deploying innovative cycling gloves that offer enhanced performance and comfort. Such steps are being adopted for gaining an edge over competitors, boosting the market development.
Key Industry Development:
April 2023 – Dipped Products PLC began operations at its Biyagama-based production plant in alignment with its precision engineered sports gloves diversification. The USD 15,406.5 billion (INR 1.3 billion) unit intends to deploy the company’s technical expertise in glove production for household, industrial, and medical applications for designing sports gloves with maximum comfort, protection, and performance.