Racing Apparel Market Size, Share & Industry Analysis, By Apparel Material (Synthetic Fibre, Natural Fibre), By End-user (Male, Female), By Application (Motorcycle Racing, Car Racing, Cycle Racing, Others) And Regional Forecast, 2024-2032

Performance in racing majorly depends on the skillset of the racer or the rider; whereas, the perfect apparel also plays an important role as it provides safety as well as comfort, which in turn, boosts the rider’s confidence. Clothing types that provide more ventilation, which is lightweight and easy to wear are gaining more popularity in the market. Innovative technologies are coming up from the key players to offer safer and better quality attire. For instance, Alpinestar S.p.A. has incorporated the ‘Tech-Air Technology’, an airbag system inside the liner of the motorsports jacket which is lightweight and durable. It ensures the protection of the upper body part in the case of an accident.  All the components of the system are certified to be functional in all types of weather from -10 degrees Celsius to +50 degrees Celsius. Additionally, it also has an LED panel on the left sleeve of the jacket to indicate the working status of the system. These clothing are usually custom made according to the requirements and the size of the user. Therefore, increasing awareness regarding safety while driving in the race has resulted in advancements in the clothing and gears which in turn is anticipated to propel the product demand.

The increasing popularity of outdoor sports across the globe has resulted in an increased number of events which in turn also has given rise to a greater number of cars or bike crashes during the activities. Therefore, it is recommended to wear attire such as ‘Overall Suits’ as well as undergarments made from a fire retardant material at the time of competitions to reduce the number of fatalities in crashes. For instance, according to the guide, ‘Formula Student Rules 2019 Version 1.1’ designed for a small-scale original formula-style car race for students, the driver must wear a fire-resistant one-piece suit, which is made up of at least two layers that cover the complete body from the neck part to the ankles and the wrists. The suit must be certified to one of the following standards and it also should be labeled such as SFI 3-2A/5 (or higher), FIA Standard 1986, and FIA Standard 8856-2000. As per the same source, the approved fire-resistant materials include, Carbon X, Indura, Nomex, Polybenzimidazole and Proban, which are fire-resistant. Any material which cannot sustain in fire and can get melted when exposed to higher heat is prohibited to be used in the racing garments. Professional sports persons are ready to spend more for their own safety in their attire. Additionally, increasing participation from kids is also supporting revenue generation for the product.

However, these clothes are usually highly-priced and therefore is only affordable to higher-income groups and professionals. Additionally, garments made for sporting purposes are usually very tight which can lead to suffocation, and therefore participants who participate in such activities as a means of leisure do not usually go for such products.

Key Players Covered:

The key companies operating in the global racing apparel market are Alpinestars S.p.A, Fox Head, Inc., Dainese S.p.A, Yamaha Motor Corporation, OMP Racing S.p.A., BMW SA, Ferrari S.p.A, and Blackchrome Sportswear.

Based on apparel material, the global market is segmented into, synthetic fiber and natural fiber. Synthetic fiber is expected to hold a major share as these are lightweight, more durable and possess fire retarding properties. However, a new type of natural fibers with better quality such as spider silk are emerging in the market and therefore natural fiber segment is expected to witness rapid growth.

Based on the end-user, the market is segmented into, males and females. The male segment is expected to hold a major share owing to a greater inclination of men towards outdoor sports activities as compared to women across the globe.

Based on the application, the market is segmented into, motorcycle racing, car racing, cycle racing, and others. The speed at which cars are driven at racing events is higher and therefore the severity of injuries occurring at this speed is more. The car racing segment is therefore, expected to hold a significant share owing to higher protection and double-layered clothing required for such activities.

Regional Analysis:

North America is expected to hold a significant share in the global market during the forecast period of 2020-2027. Increasing sports events' popularity such as NASCAR in the region has led to increased participation in outdoor sports. For instance, Outdoor Participation Report published in 2018 by the Outdoor Foundation, number of participants aged above six years in adventure racing was 2,095 thousand in 2013 which increased to 2,529 thousand in 2017 in the U.S. Additionally, high presence of passionate individuals towards driving car and bike coupled with the presence of high-income groups and increasing awareness regarding motorsport safety in the region also significantly drives the growth of the market.

Asia Pacific is expected to witness rapid growth in the market. This can be attributed to an increasing number of domestic as well as international sports championships in the region. For instance, according to the Annual Report 2018-2019 of Federation of Motor Sports Clubs of India published in September 2019, in India, the total number of permits given for motorsports events was 439 and a total number of events held was 431 in 2018, of which 76% share accounted by 4 wheeler events and 24% were 2 wheeler events. Moreover, as per the same source among the events held, racing held the second position for 4 wheeler events whereas, for 2 wheeler events, it was on the first position. Additionally, increasing disposable income of the populace is allowing people to spend more on sports clothing which is likely to support the market growth.

Segmentation

Key Industry Developments

• In October 2019, TVS Motor Company launched new ‘TVS Racing Performance Gears’ which includes, jackets, gloves, pants, helmets and boots


• In November 2019, Alpinestars introduced their new collection of sports apparel including riding gears such as jackets, hoodies, gloves and boots.