Bicycle Shoe Market Value to Reach US$ 1,673.3 Mn in 2029
The number of cycling enthusiasts are increasing worldwide. Rapidly growing cycling activity for exercise and leisure purpose, rise in awareness of cycling benefits, and easy availability of bicycle shoes through various sales channels boost the consumers for high number of participation in cycling events which in turn is gearing up the sales of bicycle shoe across the globe. Exhibiting a moderate CAGR of 5.5% (2019-2029), the global bicycle shoe market is expected to surpass US$ 1.6 Bn mark in 2029. This FMI study reveals that bicycle shoe market will grow at a steady pace during 2019 - 2029.
Bicycle Shoe Market - Key Research Findings
- The global bicycle shoe market is expected to grow at a rapid pace in East Asia and South Asia & Pacific region owing to the increasing number of health conscious consumers, rapid urbanization and rising Chinese player’s presence in Asia Pacific countries.
- East Asia remains the largest shareholder in the global bicycle shoe market however, South Asia & Pacific will continue to expand at highest CAGR.
- Bicycle shoe market holds the highest value share in male consumer group. However, growth opportunity will continue to expand the market in female & kids segment.
- Online platforms will be the most lucrative sales channel during the forecast owing to vast product availability on online platforms to compare price, product design & features, secured transaction/ payment and at door step delivery. Moreover, return or exchange policy on online platforms attracts the consumers towards more online purchases.
Key Factors Shaping Bicycle Shoe Market
Increasing Public Bicycle Rental Programs and Government initiative
Bike-Sharing programs offers a vide option to individual and the growing interest of consumers towards healthy and fit lifestyle is gaining the attraction of bicycle shoe market and due to that there is an increase in demand. The increasing activity of cycling and the awareness of consumers towards the environmental pollution is pushing the high demand of bicycle shoes in the market. In addition to that rental bicycle market are also a potential reason for the growth in future market of bicycle shoes.
The Initiatives taken by Institute for transportation and Development policy in 2014 revealed that bike share programs have been initiated over 600 cities worldwide. The Indian government has taken many initiatives, such as ‘Make in India’ and ‘Startup India’, with an objective of boosting the manufacturing sector and increasing the purchasing power of the average Indian customer. Such initiatives would further boost demand of bicycle shoes.
Increasing in online sales
The increasing adoption of e-Commerce for selling products globally has led to a surge in the growth of B2C businesses in various domains. Over the years, consumer behavior has drastically changed, and are more inclined towards exploring products online and purchasing through e-Commerce. The expansion of global online sales, along with increasing product lines and product portfolios are expected to drive market growth
Current Coronavirus Pandemic Outbreak Resulting in an Slight Decrease in Demand
During a coronavirus pandemic outbreak, the footwear, clothing and accessories industries are facing a slight decrease in demand as all the supply chains are disrupted as the outbreak of COVID-19 outbreak across the globe. The decline is due to the downfall of all the exports as China and India market are closed. Moreover the industries are going to recover from the decline as the Limited availability of labor, components and other supply chain are the major challenges faced by the manufacturers in the present time. By the end of this lockdown situation across the world will result in higher consumer demands of the bicycle shoe and the market will be witnessing higher consumer traffic. The E-Commerce segment in the sales channel will be showcasing the high demand of the bicycle shoe and the manufacturers need to design the new distribution networks to cope with the high demand with the changing business. Retailers on the other hand are planning to shift to the online delivery model.
Increasing Female Participation to Drive Bicycle Shoe Market
In recent past, an increasing trend has been observed as female participation for cycling sports. The growing interest and participation of female cyclist, is primarily driven by health consciousness and leisure activity. Female candidates are more inclined towards leisure activity as compared to sports however growth can be noted in cycling sports participation. Moreover, growing media attention have also pushed female candidates towards more participation for on female cycling events. According to British Cycling, more women have taken up cycling in UK form 2013 to 2017, almost three quarters of a million. Various initiatives are also taken by organizations to increase female participation in cycling. WeRide initiative which was started in 2013 by British Cycling, today aims to get one million more women cycling by 2020. All these efforts and factors drive the female cycling participation which in turn, will boost the sales of bicycle shoes across the globe.
Bicycle Shoe Market: Structure Analysis
- Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., Lemans Corporation, EVS Sports, GIRO SPORT DESIGN, Adidas Outdoor, Pearl Izumi, Shimano Inc., Specialized Bicycle Components, NorthWave, Fox head Inc., Frankd MTB Apparel, Five Ten Footwear Company, Trek Bicycle Corporation and others.
- Rising popularity off road cycling and biking has boosted the demand for safety gears has specialy boosted the demand of bicycle shoes for the safety purpose.
- Such companies are introducing new products and partnering with other industry leaders to develop and deliver new products that meet the rising demands and desires of customers. Industry leading players and Government bodies are also taking steps to raise customer awareness.
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Report Metric |
Details |
|
Base year considered |
2019 |
|
Actual estimates/Historical data |
2015 - 2019 |
|
Forecast period |
2020 - 2030 |
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Forecast units |
Value (USD) Bn |
|
Segments covered |
Product Type, Material type, End Use Industry, Demographics, Sales Channel and Region |
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Regions covered |
North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA) |
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Key Players |
Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., Lemans Corporation, EVS Sports, GIRO SPORT DESIGN, Adidas Outdoor, Pearl Izumi, Shimano Inc., Specialized Bicycle Components, NorthWave, Fox head Inc., Frankd MTB Apparel, Five Ten Footwear Company, Trek Bicycle Corporation etc. |
|
Growth Drivers |
Increasing Number of Cycling Tournaments. Brand Endorsements to Propel Market Growth. Enhanced Product Visibility. Rising Awareness about the Health Benefits of Physical Activities. |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Mountain Bike Shoe Holds Dominance with more than 45% share in 2019
Driven by health consciousness, changing lifestyle and rapid urbanization, bicycle shoe products are expected to see a robust demand across the globe. Adventure sport has been gaining traction among young consumers since past years and growing female participation has also been observed. New product innovation and launches also supports consumer’s growing interest for adventure sports such as mountain biking. In March 2020, Leatt launches innovative shoe line for mountain biking which are designed to combine style, comfort and control for mountain bikers at all levels. Innovation of carbon rubber soles which also provide durability, stability, and adherence during the biking. Manufacturing innovation and easy availability on online and various offline platforms combined with growing consumer’s interest for mountain biking boost the sale of mountain bike shoe worldwide.
South Asia & Pacific to Drive the Growth of Bicycle Shoe Market
East Asia is accounted as the leading region in the global bicycle shoe market in 2019 owing to growing consumer’s interest for cycling activity along with large population base, high adoption rate, and concentration of manufacturers in the region however South Asia & Pacific is expected to expand at highest CAGR during the forecast due to growing awareness of health benefits for cycling, increasing consumers usage of cycling activity both for daily commuting, exercise and leisure purposes.
Increasing Female Participation to Drive Bicycle Shoe Market
In recent past, an increasing trend has been observed as female participation for cycling sports. The growing interest and participation of female cyclist, is primarily driven by health consciousness and leisure activity. Female candidates are more inclined towards leisure activity as compared to sports however growth can be noted in cycling sports participation. Moreover, growing media attention have also pushed female candidates towards more participation for on female cycling events. According to British Cycling, more women have taken up cycling in UK form 2013 to 2017, almost three quarters of a million. Various initiatives are also taken by organizations to increase female participation in cycling. WeRide initiative which was started in 2013 by British Cycling, today aims to get one million more women cycling by 2020. All these efforts and factors drive the female cycling participation which in turn, will boost the sales of bicycle shoes across the globe.
Mountain Bike Shoe will have a high impact on market
Road Bike Shoe to showcase noteworthy CAGR
Premium segment will have highest CAGR during the forecast
Mass remains the top sales category during the forecast
Male segment will have the highest value share
Female will see a significant CAGR during the forecast
How Growth will Unfold
The growth of the bicycle shoe market is significantly dependent on the product adoption rate, mainly in urban areas. The growing consciousness among consumers are high among urban population as compared to rural population.
In addition, growing awareness on health & fitness, increasing disposable income, change in lifestyle will also have a significant impact on the sale of bicycle shoe. New innovative product launches will support the market demand from manufacturers end.
Offline sales channel platforms holds dominance over online sales. However, online sales are anticipated to grow at highest CAGR during the forecast period owing to large variety availability from multiple vendors, low price, easy & secure payment, door step delivery etc.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Bicycle Shoe Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2029
A recent market study published by Future Market Insights on the bicycle shoe market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of bicycle shoe market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
Bicycle Shoe Market Taxonomy
The global bicycle shoe market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product
- Mountain Bike Shoe
- Road Bike Shoe
- Touring & City Bike Shoe
- Winter Shoe
Price Range
- Premium
- Mass
Consumer Orientation
- Male
- Female
- Kids
Sales Channel
- Online
- Offline
- Specialty Bicycle Retailers
- Full-Line Sporting Goods Stores
- Department Stores & Others
Region
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
What's Included
The report commences with the executive summary of the bicycle shoe market, which includes a summary of key findings and key statistics of the market. It also includes market value (US$ million) & volume (‘000 Units) estimates of leading segments in the bicycle shoe market.
Readers can find the detailed taxonomy and definition of the bicycle shoe market in this chapter, which will help them understand the basic information about the market. This section also highlights the inclusions and exclusions, which helps the reader in understanding the scope of the bicycle shoe market report.
The report provides key market trends that are expected to impact market growth significantly during the forecast period. Detailed industry trends are provided in this section, along with key market developments or product innovations.
The report provides global market overview on manufacturing output analysis, global bike sharing market, cycling market scenario, investment scenario, global bicycle components market, key success factors, and bicycle market value chain analysis.
This section provides detailed analysis of the historical bicycle shoe market volume, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019-2020) and an incremental opportunity for the forecast period (2019-2029).
This chapter highlights the pricing analysis based on product type for base year 2018 and forecast year 2029.
This chapter includes the detailed analysis of the historical bicycle shoe market value, along with an opportunity analysis of the future. Readers can also find the incremental opportunity for the current year (2019-2020), and an absolute opportunity for the forecast period (2019 - 2029).
This chapter explains key macroeconomic factors that are expected to influence the growth of the bicycle shoe market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the market. It also offers key market dynamics of the bicycle shoe market, which include drivers, restraints, and trends. Moreover, it will help readers understand key trends followed by leading manufacturers in the bicycle shoe market.
Based on product, the bicycle shoe market is segmented mountain bike shoe, road bike shoe, touring & city bike shoe, and winter shoe. In this chapter, readers can find market attractiveness analysis, based on product type.
This chapter provides various details about the bicycle shoe market on the basis of price range such as premium & mass. In this chapter, readers can understand the market attractiveness analysis, based on price range.
This chapter provides details about the bicycle shoe market on the basis of consumer orientation, and has been classified into male, female, and kids, along with market attractiveness analysis.
This chapter provides details about the bicycle shoe market on the basis of sales channel, and has been classified into offline and online. Offline sales channel is further bifurcated into specialty bicycle retailers, full-line sporting goods stores, and department stores & others, along with market attractiveness analysis.
This chapter explains how the bicycle shoe market will grow across various geographic regions, such as North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America bicycle shoe market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on product type, price range, consumer orientation, sales channel, and countries in North America.
This chapter includes a detailed analysis of the growth of the Latin America bicycle shoe market, along with a country-wise assessment that includes Brazil, Mexico, and the rest of Latin America. Readers can also find regional trends, regulations, and market growth based on product type, price range, consumer orientation, sales channel, and countries in Latin America.
Important growth prospects of the bicycle shoe market in several countries, such as Germany, the UK, France, Spain, Italy, Russia, and the rest of Europe, are included in this chapter.
ASEAN, OCEANIA, India, and Rest of South Asia & Pacific are leading region in the South Asia & Pacific, which are prime subjects of assessment to obtain growth prospects of the market. Readers can also find detailed information about growth parameters of the South Asia & Pacific bicycle shoe market during the forecast period.
This chapter highlights the growth of the bicycle shoe market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers in understanding key factors that are responsible for the growth of the bicycle shoe market in East Asia.
This chapter provides information about how the bicycle shoe market will grow in major countries of the MEA region, such as GCC Countries, Turkey, Israel, South Africa, and the rest of MEA, during the forecast period.
This chapter provides information market analysis of companies, market concentration of companies, market share of top players and their presence.
In this chapter, readers can find a comprehensive list of all leading stakeholders in the bicycle shoe market, along with detailed information about each company, which include the company overview, revenue shares, strategic overview, and recent company developments. Some market players featured in the report are Shimano, Inc., Giant Manufacturing Co., Ltd., SIDI Adidas Wiggle Ltd., Trek Bicycle Corporation Recreational Equipment, Inc., Specialized Bicycle Components, Inc., Gaerne S.P.A and others.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the bicycle shoe market.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the bicycle shoe report. This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the bicycle shoe market.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Distributors
- Traders
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
Secondary Research
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Adventure Cycling Association
- Union Cycliste Internationale (UCI) - Home
- International Cycling Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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