Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Riding Boots market.
Trusted Business Insights presents an updated and Latest Study on Riding Boots Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Riding Boots market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Riding Boots Market
The global riding boots market size was valued at USD 1.44 billion in 2018 and is projected to register a CAGR of 6.1% during the forecast period. Increasing awareness regarding safety among the millennials as well as professional motorcycle riders is expected to drive the growth. Rising adoption of riding gear for road trips, adventure touring, and professional championships is projected to further expand the market size. Moreover, rising concerns regarding road traffic injuries across the globe is expected to fuel the demand for riding boots in the forthcoming years.
Over the past few years, the rising enthusiasm for motorbikes and adventure motorcycling as a recreational activity among young population is propelling the demand for Riding Boots. Rising popularity of cruiser, sport, and dirt bikes is expected to bode well for the product demand. Moreover, better fuel economy of motor bikes coupled with ease of parking and low ownership costs as compared to four-wheeled automobiles are some of the factors driving the preference for motorbikes.
Rising awareness regarding the rider and pillion safety is anticipated to drive the demand for various riding gears including riding boots, helmets, gloves, and knee and elbow guards. Riding boots play a crucial role in saving the rider from the high heat dissipated from the motorbike engines and injuries caused during accidents. Rising awareness regarding these benefits is projected to fuel the demand for riding boots over the forecast period.
Rising incidence of road crashes is one of the major challenges for the governments and authorities. Introduction of effective and sustainable safety solutions for such accidents is expected to further drive the product demand. According to the Global Status Report on Road Safety 2018, published by the World Health Organization (WHO), in 2016, 1.35 million people lost lives in various motorbike and road traffic accidents. Rising awareness regarding rider safety is expected to drive the product demand in the riding boots market over the forecast period.
Product Insights of Riding Boots Market
Sport and race boots was the largest product segment, with a market share of more than 60.0% in 2018 and is anticipated to continue its dominance during the forecast period. Key manufacturers offer innovative riding shoes manufacturing using composites materials, metal, plastic, and leather. These composites make the Riding Boots lightweight, comfortable and safe. Major manufacturing including Alpinestars S.p.A,and TCX S.r.l are introducing new products to cater to the rising product demand. For instance, in July 2018, Alpinestars S.p.A launched a newest series of riding gears including riding boots called Tech 10. These riding shoes are designed using latest Front Flexion Control Frame technology with resigned foot shell and slimmer outsole. According to the company, the new buckles added to the boots are durable and better to operate.
Distribution Channel Insights
Online distribution channel is anticipated to register the fastest CAGR of 7.4% from 2018 to 2025 owing to high ease of shopping and convenience offered by online stores. Moreover, online retailers, such as Amazon, Alibaba, and RevZilla are adding riding boots as main focus area. In addition, e-commerce platforms including social media and Google Ads play an important role in influencing the consumer preferences. In addition, rising adoption of smartphone coupled with access tpo high-speed internet in developing countries such as China, India, Vietnam, and Indonesia are the factors anticipated to propel the segment growth.
Offline channels held the largest market share of more than 75.0% in 2018. A significant rise in riding protective gear retail outlets in countries, such as India, Brazil, and China is anticipated to have optimistic impact on the demand for riding boots in near future. For instance, in December 2017, Royal Enfield entered in the motorbike apparels and protective gear segment to cater to the growing Indian market. These trends are anticipated to fuel the offline sales of these kinds of boots over the forecast period and in turn drive the growth of the segment.
Regional Insights of Riding Boots Market
Europe was the largest market for riding boots, with a revenue share of more than 30% in 2018 owing to the presence of some of the largest sports bike manufacturers including Ducati, Aprilia, Benelli, and Cagiva. Key motorbike shoes manufacturers are introducing new products to gain greater consumer base. For instance, in April 2018, FOX, one of the leading manufacturer of mountain and motocross protective gear as well as apparel introduced the latest series of riding boots under the brand name Fox 180 Boot. These riding boots are manufactured using exclusive ActiveLock closure system. This technology allows unrestricted movement of the calf while riding the bike. These product launches are anticipated to boost the market growth over the forecast period.
Market Share Insights of Riding Boots Market
The global market is fragmented in nature owing to the presence of a large number of players at regional level. Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, and TCX S.r.l. hold majority of the market share. These manufacturer offer a wide range of technologically advanced products order to cater to the increasing demand. These manufacturers are adopting market strategies such as mergers and acquisitions and product launches, to expand their consumer base. For instance, in July 2018, FLY Racing, one of the leading manufacturer of mountain apparels and protective gear introduced the new FR5 boots. These bike shoes feature Thermoplastic Polyurethane (TPU) heel, 3-D molded plastic shift panel, and pre-shaped molded plastic 3-D shin. Such innovative product launches are expected to boost product visibility and fuel market growth.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Riding Boots Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global riding boots market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Sport & Race Boots
Cruising & Touring Boots
Adventure & Dual Sport Boots
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Riding Boots Market Size, Share, Trends, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)
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