In a recent published report, Kenneth Research has updated the market report for Mountain Bike Footwear and Socks Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mountain Bike Footwear and Socks Market products.
The global mountain bike footwear and socks market is projected to grow with a significant growth rate of 5.64% from 2017 to 2024 and reach a market value of USD 7.15 billion by the end of 2024 .Global Mountain Bike Footwear and Socks Market Research Report: Information by Type (Footwear and Socks), End User (Men, Women and Kids), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2024
Market Scenario
Mountain biking is a sport where bikers ride over rough terrains requiring endurance, core strength, and balance. Mountain biking footwear and socks are designed to pair with a specific type of pedals used in mountain bikes. They usually offer foot protection and stiff soles to enhance power transfer and reduce fatigue. There are mainly two types of mountain bike footwear, one designed for use with flat pedals and the other to use with clipless pedals. The sole of a clipless mountain shoe is designed to mount a cleat under the ball of the foot which ensures that the foot of the rider is always on the optimal spot.
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The global mountain bike footwear and socks market is projected to grow with a significant growth rate of 5.64% from 2017 to 2024 and reach a market value of USD 7.15 billion by the end of 2024. The several advantages of mountain bike footwear and socks such as pedaling, control, safety, and specificity are driving the global market growth. However, high product price and lack of awareness in developing nations may restrict the market growth during the forecast period.
Segmentation
The global mountain bike footwear and socks market has been segmented based on type, end user, distribution channel, and region.The global mountain bike footwear and socks market has been classified, based on type, into footwear and socks. The footwear segment is further bifurcated into race cleats; downhill/freeride shoes and hybrid. The socks segment is further divided into protective socks, woolen socks, compression socks, trail socks, and others.The global mountain bike footwear and socks market has been segmented, based on end user, into men, women, and kids.On the basis of distribution channel, the global mountain bike footwear and socks market is bifurcated into store-based and non-store-based. The store-based segment is segmented into supermarkets & hypermarkets, specialty stores, and others.
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The global mountain bike footwear and socks market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American mountain bike footwear and socks market has further been segmented into the US, Canada, and Mexico.The European mountain bike footwear and socks market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.The mountain bike footwear and socks market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The mountain bike footwear and socks market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Players
Shimano, Inc. (Japan), Adidas AG (Germany), Fox Head, Inc. (the US), POC Sweden AB (Sweden), Frankd MTB Apparel (Australia), Kitsbow LLC (US), Trek Bicycle Corporation (US), SCOTT Corporation SA (Switzerland), Indola (South Africa), and Endura Ltd (UK) are some of the key players in the global mountain bike footwear and socks market.
Globally, mountain bike footwear and socks market in North America is anticipated to be the dominating market with a share of 42.25% in 2018. High involvement of Americans in mountain biking is primarily driving the regional market growth. Product innovation and expansion of the product portfolio by key market players are expected to further boost the market in North America during the forecast period.
Asia-Pacific is expected to grow at the fastest rate in the mountain bike footwear and socks market due to the increasing popularity of bike sports and increasing participation in global competitions. Furthermore, rising per capita disposable income and growing awareness towards protection gears and apparels while biking on terrains are aiding to the regional market growth.
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Global Mountain Bike Footwear and Socks Market, by Product Type
Footwear
Race Cleats
Downhill/Freeride Shoes
Hybrid
Socks
Protective Socks
Woolen Socks
Compression Socks
Trail Socks
Others
Global Mountain Bike Footwear and Socks Market, by End User
Men
Women
Kids
Global Mountain bike footwear and socks Market, by Distribution Channel
Store-Based
Supermarkets & Hypermarkets
Specialty Stores
Others
Non-Store-Based
Global Mountain Bike Footwear and Socks Market, by Region
North America
US
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
Japan
China
India
Australia and New Zealand
Rest of Asia-Pacific
Rest of the World (RoW)
South America
Middle East
Africa
Intended Audience
Mountain bike footwear and socks manufacturers
Commercial research and development institutions
Sports associations and institutions
Raw material suppliers and distributors
Retailers, distributors, and wholesalers
Traders, exporters, and importers
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