India Ride Gear Market to Grow with a CAGR of 7.44% in India through to 2029
The major drivers for the India Ride
Gear Market are the growing popularity of two-wheelers and motorcycling as a
recreational activity, and the increasing emphasis on rider safety and
awareness, driving the demand for protective gear.
According to TechSci Research report, “India Ride
Gear Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the India Ride Gear Market stood at USD 59.61 Million
in 2023 and is anticipated to grow with a CAGR of 7.44% in the forecast period,
2024-2029. The India Ride Gear Market is experiencing robust growth driven by
multiple primary factors. One of the key contributors to this growth is the
surging popularity of bike riding as a leisure and adventure activity. As more
individuals embrace this recreational pursuit, the demand for ride gear has
witnessed a significant upswing. There is a growing awareness among people
about road safety, leading to an increased understanding of the importance of
wearing helmets and other protective gear while riding. This heightened
consciousness has been further reinforced by stringent government regulations
mandating the use of such safety equipment.
Furthermore, the expanding middle class in India has
emerged as a pivotal driver for the market. With rising disposable income and a
strong inclination to invest in premium ride gear, this segment seeks enhanced
comfort and safety during their rides. The middle class's preference for
high-quality protective gear has become a substantial force propelling the
market's growth trajectory.
Additionally, the burgeoning e-commerce sector in
India has played a vital role in stimulating the market even further. With the
advent of online platforms, consumers now enjoy easy accessibility and a wide
variety of ride gear options. This seamless shopping experience empowers
individuals with enhanced convenience and choice. Consequently, the e-commerce
sector has become a catalyst for the overall expansion of the India Ride Gear
Market.
Taking into consideration these factors, it becomes
evident that the market's growth is influenced by a diverse range of drivers.
These include the increasing popularity of bike riding as a recreational
activity, the rising disposable income among the middle class, and the
convenience offered by the thriving e-commerce sector. Each of these factors
contributes to the market's upward trajectory, solidifying its position as a
promising industry with immense growth potential.
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Ride Gear Market”
The India Ride Gear Market is a crucial component of
the country's motorcycle and leisure industry. It offers a diverse range of
products that cater to the safety, comfort, and style preferences of riders.
This market encompasses a variety of gear, including helmets, jackets, gloves,
boots, body armor, and accessories, providing riders with options suitable for
different riding scenarios, from urban commuting to adventurous off-roading.
Safety is at the core of the India Ride Gear Market.
Protective gear, particularly helmets, plays a pivotal role in ensuring rider
safety. India has stringent safety standards and regulations governing the
manufacture and use of helmets, emphasizing their critical role in reducing the
risk of head injuries in accidents. Beyond helmets, the market offers a
comprehensive range of protective gear, such as riding jackets, gloves, body
armor, and boots, to provide riders with additional layers of protection.
Rider awareness regarding the importance of wearing
protective gear has been steadily increasing. Safety campaigns, advocacy
efforts by rider associations, and the enforcement of helmet laws have
contributed to a heightened understanding among riders about the necessity of
using proper gear. As a result, more riders are recognizing that wearing the
right gear significantly reduces the severity of injuries in case of accidents,
encouraging a safer riding culture.
The India Ride Gear Market is also witnessing a trend
toward customization and personalization. Riders, particularly the younger
generation, seek gear that not only offers protection but also aligns with
their personal style and preferences. Manufacturers are responding by offering
a diverse range of gear with various designs, colors, and branding options,
allowing riders to express their individuality while staying safe on the road.
Additionally, the market is adapting to the rising
popularity of adventure motorcycling and touring. With more riders exploring
off-road terrain and embarking on long-distance journeys, there is a growing
demand for specialized gear designed for these adventures. Products such as
adventure helmets, multi-layered riding suits, and rugged boots are becoming
prevalent, catering to the unique needs of adventurous riders seeking
durability, protection, and all-weather versatility.
Sustainability and eco-friendliness are emerging as
key considerations within the India Ride Gear Market. Manufacturers are
increasingly incorporating eco-friendly materials and sustainable production
practices into their gear, aligning with global efforts to reduce the
environmental impact of manufacturing processes. This trend not only resonates
with environmentally conscious riders but also reflects the industry's
commitment to a greener future.
Lastly, the youth and women's segments of the market
are experiencing significant growth. A new generation of riders, as well as an
increasing number of female riders, is entering the market. This has led to the
development of youth-oriented and women-specific gear, addressing differences
in fit and style preferences. Inclusivity and the recognition of these diverse
rider groups are expanding the customer base and reflecting the changing
demographics of riders in India.
In summary, the India Ride Gear Market is
characterized by its diverse product range, emphasis on safety and protection,
increasing rider awareness, customization and personalization trends, the
influence of adventure motorcycling and touring, sustainability and
eco-friendliness, and the growth of the youth and women's segments. These
market dynamics collectively contribute to an evolving and dynamic industry
that caters to the multifaceted needs and preferences of riders in India.
Major companies operating in India Ride Gear Market
are:
- AGVSport
- Alpinestars SPA
- FLY Racing Jackets
- Fox Racing Inc.
- HKM Sports Equipment GmbH
- Joe Rocket Jackets
- Klim Technical Riding Gear
- Kushitani Hamamatsu
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“The primary drivers for the India Ride Gear Market
are manifold. The growing popularity of bike riding as a leisure and adventure
activity contributes significantly to the demand for ride gear. Furthermore,
increasing awareness about road safety and stringent government regulations
mandating the use of helmets and other protective gear while riding have also
propelled the market. The burgeoning middle class, with its rising disposable
income and propensity to spend on premium ride gear for better comfort and
safety, is another key driver. Lastly, the burgeoning e-commerce sector in
India provides easy accessibility and variety to consumers, further stimulating
the market growth.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Ride Gear Market – India
Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029, Segmented By Product Type (Gloves, Jacket,
Boots and Others), By End Use Application (Amateur and Professional), By Country, Competition”, has evaluated the future growth potential of India
Ride Gear Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Ride Gear Market.
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