ASIA PACIFIC CYCLING WEAR MARKET ANALYSIS

Asia Pacific Cycling Wear MarketSize and Trends

The Asia Pacific cycling wear market is expected to surpass US$ 1,388.6 million by the end of 2028, in terms of revenue, exhibiting a CAGR of 9.0% during the forecast period (2021 to 2028).

Figure 1. Asia Pacific Cycling Wear Market Revenue Share (%), By Country, 2020

Figure 2. Asia Pacific Cycling Wear Market Revenue Share (%), By Product Type, 2020

On the basis of product type, in 2020, the clothing segment held the largest revenue share of 39.0% in the Asia Pacific cycling wear market. The segment is expected to reach US$ 971.8 million by 2028.

Market Trends

Initiatives by leading manufacturers and governments to encourage cycling sport is mainly driving the cycling wear market growth. Governments in various cities are focusing on initiatives to carve out cycling routes for cyclists, which is a significant factor for increasing the adoption of cycling. For instance, in 2017, the Government of India built cycling tracks in 10 cities in the region along the arterial roads to promote cycling as a mode of intra-city transport. Various governments are taking initiatives to encourage people, for opting cycling to focus on reducing the carbon footprint in the country.