This research report titled "Motocross Gears Market Key Development Factors and Upcoming Trends During forecast Period 2018-2028" focuses on the Motocross Gears Market, published to the vast repository managed by Fact.MR. The analysis focuses on the prime geographical regions based on their market size, revenue and attractiveness factors. Furthermore, the research discusses various segments from the Motocross Gears Market to examine future lucrativeness and spot growth prospects during the period between (2018-2028). Readers can even access information such as key developments, technologies, innovations, etc., concerned to the Motocross Gears Market.
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A recent Fact.MR study foretells about the motocross gears market to achieve an expansion rate of 4.9% CAGR over the forecast period (2018-2028). The collaboration of leading manufacturers with technology companies for product innovation will increase the traction to the market. For eg. Troy Lee Designs has collaborated with Alpinestars for working on the new Tech-7 Boots.
The steady growth in the dirt bike fleet and motorcycle production rate has also impacted the motocross market. Some of the prominent players in the manufacturing of motocross gears are using Kevlar, Cordura and other best protective material to provide maximum protection to the rider. The growth in the motocross market is observed by growing awareness in motocross enthusiast for the safety of the riders. Motocross associations and clubs are particular about participants wearing protective gears during races. The rapid increase in the adoption of tech-enabled safety gears has translated into significant demand for motocross gears, thus fueling the growth of the market.
Booming e-commerce industry has provided a new revenue area for the worldwide motocross gears manufacturers. The availability of leading brands with the latest trends through e-commerce channels has been of particular significance of revenue. Diversified sales channel has not only catered to the rural areas of developing economies but has also penetrated new demographics for the motocross gears market.
The demand for motocross gears is rising with the mild growth opportunities across the globe due to its high importance for the safety of the rider and the gaining popularity of the motocross races. The surge in the participation of motocross races in the Asia Pacific is expected to rub off on demand for motocross gears, thus complementing the market growth of motocross gears. Use of latest technologies such as GPS and Bluetooth-enabled helmets has impacted the motocross gears manufacturers and has led to an increase in the demand for product innovation using advanced technology.
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The market is set to register a good CAGR from 2018 to 2028. Motocross is gaining popularity in many parts of Latin America, which will reflect on the growth of the market. Europe and North America are expected to hold a significant market share in terms of value. In North America, motocross market is expected to surpass US$ 558 Mn in revenue. Europe holds a strong position in the market and is expected to attain a value of US$ 713 Mn by the end of the forecast period.
Chest/Roost protection in motocross gears is highly preferred in European countries due to a high number of international race participation. Belgium shows a worthwhile growth for motocross gears as a maximum number of world champions belong to the country. Use of leg guards has seen a downfall due to the latest development of armored shorts and pants.
Despite being an unorganized market, motocross market is expected to have an intense competition between the new entrants and the existing players. Key players in motocross gears market include Alpinestars Spa, O’Neal, Fly racing, LeMans Corporation, Motorsports aftermarket ltd. and Scott sports. These firms are implanting strategies, such as increase in product reach, partnerships, and acquisitions of local and emerging players to hold a strong position in the motocross gears market.
Prominent manufacturers are focusing on smart gears due to its increasing demand among the players. Helmets are being integrated with Bluetooth facilities and Wi-Fi capabilities to improve the safety and efficiency of the motocross gears. Counterfeit products are one of the major challenges for the motocross gears market. Product innovations and development through technology in motocross gears is expected to create growth opportunity for the motocross gears market.
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Motocross Gears Market Key Development Factors and Upcoming Trends During forecast Period 2018-2028
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