The Power Sports Apparel market is expected to grow from US$ 55 billion in 2022 to US$ 94.98 billion by 2030; it is expected to record a CAGR of 7.1% from 2022 to 2030.
Market Insights and Analyst View:
The power sports apparel market has been witnessing steady growth due to several factors. One of the key drivers is the increasing popularity of power sports activities such as motorcycling, off-roading, snowmobiling, football, gymnastics, and other motor sports. As more enthusiasts participate in these activities, the demand for specialized apparel designed for safety, comfort, and style has risen significantly. Additionally, advancements in fabric technology have played a vital role in the market expansion. Manufacturers are investing in research and development to create innovative materials that offer better protection against abrasion, impacts, and weather fabrics have become standard features, enhancing the overall experience for power sports enthusiasts. Thus, all the above-mentioned factors are expected to drive the power sports apparel market for the forecast period.
Growth Drivers and Challenges:
The global power sports apparel market has witnessed a significant surge in popularity. The growing enthusiasm for power sports activities such as motorcycling, off-roading, and water sports mainly drives that. One of the key factors contributing to this trend is the increasing disposable income and purchasing power of sports consumers worldwide. As economies continue to grow, more individuals have the financial means to indulge in power sports, leading to a higher demand for specialized apparel designed for their activities. This rising income level has allowed consumers to invest in high-quality and technologically advanced power sports apparel, enhancing their overall experience and safety during these activities.
Moreover, the influence of social media and digital platforms has played a pivotal role in popularizing power sports and related apparel. Power sports enthusiasts often share their experiences, adventures, and gear recommendations on social media platforms, creating a community and fostering a sense of belonging among enthusiasts. This online presence has increased awareness about power sports and acted as a catalyst for sports apparel sales. As people across the globe engage with this content, they are more likely to be inspired to participate in power sports and invest in the appropriate gear, thereby fueling the growth of the power sports apparel market.
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Power Sports Apparel Market: Strategic Insights
Power Sports Apparel Market
-
CAGR (2023 - 2031)
7.10%
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Market Size 2023
US$ 58.91 Billion
-
Market Size 2031
US$ 101.97 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Fila Holdings Corp.
- Columbia Sportswear Company
- Lululemon Athletica Inc
- Under Armour Inc
- Adidas AG
- Iconix International
- Ralph Lauren Corporation
- Puma SE
- New Balance Athletics Inc
- Nike Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product Type
- Topwear
- Bottomwear
- Accessories
Sport Type
- Weightlifting
- GyMillionastics
- Motor Sports
- Football
- Baseball
- Others
End User
- Men
- Women
- Kids
- Unisex
Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Power Sports Apparel Market: Strategic Insights
-
CAGR (2023 - 2031)7.10% -
Market Size 2023
US$ 58.91 Billion -
Market Size 2031
US$ 101.97 Billion
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Fila Holdings Corp.
- Columbia Sportswear Company
- Lululemon Athletica Inc
- Under Armour Inc
- Adidas AG
- Iconix International
- Ralph Lauren Corporation
- Puma SE
- New Balance Athletics Inc
- Nike Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product Type - Topwear
- Bottomwear
- Accessories
Sport Type - Weightlifting
- GyMillionastics
- Motor Sports
- Football
- Baseball
- Others
End User - Men
- Women
- Kids
- Unisex
Distribution Channel - Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Segmentation and Scope:
The "Global Power Sports Apparel Market" is segmented on the basis of product type, sport type, end user, distribution channel, and geography. Based on product type, the power sports apparel market is segmented into topwear, bottomwear, and accessories. On the basis of sport type, the power sports apparel market is segmented into weightlifting, gymnastics, motor sports, football, baseball, and others. Based on end user, the global power sports apparel market is further segmented into men, women, kids, and unisex. The power sports apparel market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others based on distribution channels. The power sports apparel market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Chile, and the Rest of South & Central America).
Segmental Analysis:
Based on product type, the power sports apparel market is segmented into topwear, bottomwear, and accessories. One of the significant factors propelling the power sports apparel market is the increasing popularity of power sports activities such as off-road biking, snowmobiling, football, gymnastics, and water sports. As more enthusiasts engage in these activities, the demand for specialized apparel, including topwear like jackets, jerseys, and vests, has surged. This trend is further bolstered by the growing disposable income of consumers, allowing them to invest in high-quality, performance-oriented power sports apparel. Hence, all the above-mentioned factors, driving topwear segment, thereby propelling the growth of the power sports apparel market.
Regional Analysis:
Based on geography, the power sports apparel market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. The global power sports apparel market was dominated by North America. North America's power sports apparel market is one of the significant markets for power sports apparel owing to the unique preferences and demand regarding specialized apparel and sports accessories among the sports persons. The Advancements in fabric technology play a vital role in the market's expansion. The development of lightweight, breathable, and moisture-wicking materials enhances the overall user experience, making power sports apparel more appealing to consumers. Moreover, the influence of professional athletes and motorsport events on consumer preferences cannot be overlooked. Endorsements and sponsorships create a direct connection between successful athletes and the apparel they wear, inspiring fans to emulate their idols and thereby boosting market demand.
On the flip side, several restraining factors challenge the growth of the power sports apparel market. Economic fluctuations and consumer disposable income directly impact purchasing power. During economic downturns, consumers tend to cut down on non-essential expenses, which can lead to a decline in the sales of power sports apparel. Additionally, stringent regulations and safety standards within the power sports industry can pose challenges for manufacturers.
Furthermore, the market faces intense competition, with numerous established and emerging players vying for market share. This competitive landscape often leads to price wars and a focus on cost-cutting measures, which might compromise product quality. Rapid changes in fashion trends and consumer preferences also pose challenges for manufacturers, requiring them to stay agile and innovative to keep up with the ever-shifting market demand.
However, global events like the FIFA World Cup create spikes in demand for jerseys and related merchandise. Football-inspired fashion and streetwear contribute to the popularity of football apparel beyond the pitch. E-commerce platforms provide a convenient way for fans to access a wide range of football apparel from anywhere at any time. Additionally, local clubs and amateur football clubs generate demand for customized team jerseys and gear. The rising popularity of sports and fitness activities contributed to the growth of power sports apparel.
Industry Developments and Future Opportunities:
Various initiatives taken by the key players operating in the power sports apparel market are listed below:
1. In May 2023, PUMA SE launched the 2023/24 Manchester City Home kit, celebrating the 20th anniversary of the club's historic move to the Etihad Stadium.
COVID-19 Impact:
The COVID-19 pandemic affected economies and industries in various countries. Travel bans, lockdowns, and business shutdowns in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including the consumer good in the sports industry. The shutdown of manufacturing units disturbed global supply chains, delivery schedules, manufacturing activities, and sales of various essential and nonessential products, including sports topwear, bottomwear, and other sports equipment & gears. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the toy industry in 2020 and early 2021, thereby restraining the growth of the power sports apparel market.
Competitive Landscape and Key Companies:
Fila Holdings Corp., Columbia Sportswear Company, Lululemon Athletica Inc., Under Armour, Inc., Adidas AG, Iconix International, Ralph Lauren Corporation, Puma SE, New Balance Athletics, Inc., and Nike, Inc. are among the prominent players operating in the global power sports apparel market. These power sports apparel manufacturers offer modern and hi-tech variety products in power sports apparel with innovative features to deliver a superior experience to kids.
Power Sports Apparel Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 58.91 Billion |
| Market Size by 2031 | US$ 101.97 Billion |
| Global CAGR (2023 - 2031) | 7.10% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.Fila Holdings Corp.
2.Columbia Sportswear Company
3.Lululemon Athletica Inc
4.Under Armour Inc
5.Adidas AG
6.Iconix International
7.Ralph Lauren Corporation
8.Puma SE
9.New Balance Athletics Inc
10.Nike Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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