Bicycle Shoe Market Outlook (2023 to 2033)
The bicycle shoe market size is estimated to be valued at US$ 1.22 billion in 2023 and is expected to reach US$ 1.75 billion by 2033. The adoption of bicycle shoe likely to advance at a CAGR of 3.7% during the forecast period.
Cycling shoes currently account for around 6% share in the global footwear market. Bicycle shoe sales are likely to witness strong growth across the world due to rising health awareness, changes in lifestyles, and growing urbanization, all of which have increased the number of cycle riders across regions. The different bicycle shoes available in the market are mountain bike shoes, road bike shoes, touring & city bike shoes, and winter shoes.
Future Market Insights predict a comparison and review analysis of the dynamics of the bicycle shoe market, which is principally subjected to an array of industry factors along with a few definite influences concerning viewpoints that support industry innovation. Some new advances that have taken place in the market include the development of shoes like mountain shoes and winter shoes that are made to protect you from stones, wind, moisture, and water.
Key reasons for this change in growth rate are attributed to the steady uptake of the market during the first half of the forecast period, owed to the increase in female participation in bike sports mostly motivated by health and leisure activities. The rising trend of custom bicycle shoes is leading to an increase in demand for bicycle shoes, whereas, a rise in consumer interest in mountain biking and a rise in disposable income are also boosting the market.
Despite these prospects, there are some likely challenges that stay ahead for the industry, which include a busy life schedule negatively influencing personal life. Less time for fitness and a lack of awareness of bicycle shoes is hampering the market growth.
2018 to 2022 Global Bicycle Shoe Market Analysis Compared To 2023 to 2033 Forecast
The bicycle shoe market expanded at a CAGR of 3.3% from 2018 to 2022. A bicycle shoe is a type of footwear, which is specifically designed for riding and comes in a range of styles based on the type and intensity of the pedaling. Clipless pedal systems are also compatible with modern bicycle shoes.
Mountain bike shoes are made to protect you from stones and have a strong sole to help you transfer power. Riders’ confidence, convenience, and safety are all enhanced by simple and reliable fastening.
Winter shoes are waterproof and airproof types of shoes. They help to protect from wind, water and moisture.
Bicycle shoes have been progressively prevalent because of a rise in the number of cycling shows/events, clubs, and associations worldwide, which has resulted in increased sales of cycling accessories such as bicycle shoes and headgear among riders.
Greater riding passion and increased penetration of online sales channels are expected to improve global bicycle shoe sales. The global bicycle shoe market is set to enjoy a valuation of US$ 1.22 billion in 2023, and further expand at a CAGR of 3.7% to reach US$ 1.75 billion by the year 2033.
Pedaling Progress: The Empowered Surge of Women Fuels Bicycle Shoe Demand
In recent years, there has been an increase in female participation in bike sports. Female cyclists’ increased interest and participation are mostly motivated by health and leisure activities.
Female candidates are more likely to engage in leisure activities than sports, but bicycle sports involvement is increasing. Furthermore, increased media attention has prompted female contenders to participate in more female cycling races.
All of these activities and reasons are driving female cycling engagement, which will boost women’s footwear sales around the world. The luxury footwear market for women has grown rapidly in recent years, and this trend is expected to continue in the future.
Sprinting Ahead: Pedaling Prosperity as Leisure Pursuits Propel Bicycle Shoe Market
Rising trend of custom bicycle shoes is leading to an increase in demand for bicycle shoes. Whereas, a rise in consumer interest in mountain biking and a rise in disposable income are also boosting the market growth. An increase in market research and development activities, as well as an increase in demand from emerging nations, will generate new opportunities for the bicycle shoe market over the forecast period.
Pedaling Against the Clock: The Impact of Hectic Work Lives on Bicycle Shoe Sales
Nowadays, competition in every sector has increased. The race to achieve more and stand out in professional life has somewhere lost one’s “me time”.
A busy life schedule is negatively influencing personal life. Less time for fitness and a lack of awareness of bicycle shoes is hampering the market growth.
Pedaling Prosperity: Asia Pacific’s Cycling Surge Fuels Bicycle Shoe Demand
During the forecast period, the Asia Pacific market is expected to grow at a high CAGR. Mountain biking’s growing popularity as a recreational and adventurous sport in nations like China, Japan, and Singapore is expected to fuel regional bicycle shoe market growth. Bicycle shoes are in high demand in this region, due to the rising number of specialty sports accessory stores and an increase in internet purchases.
Over the coming years, Europe is expected to maintain its dominant market position. A growing number of female cyclists are driving the growth of regional revenue. Due to rising consumer spending on bicycle safety equipment, countries such as Germany, France, and the United Kingdom are leading the bicycle shoe industry.
The North America market, on the other hand, is expected to increase rapidly throughout the anticipated period, due to the rising popularity of cycling and the availability of some of the world’s top mountain biking trails in Canada and the United States.
Country-wise Analysis
Bicycle Shoe Market Flourishes with Surging United States Bicycling Trend
The United States has a huge market for bicycles. In 2021, the United States bicycle market valued at around US$ 9.5 billion. This data shows the craze for bicycling in the United States.
Rising popularity of cycling is directly boosting the sales of cycling shoes. Thus, the growing market for bicycles will invariably fuel the demand for bicycle shoes.
Pedaling Trends: Unveiling the Fascinating Demand for Bicycle Shoes in Germany
Germany has a dynamic development in the bicycle shoe market. Bicycles are the best travelling vehicle both in urban as well as in rural areas.
Recently rising craze of females towards cycling has gained traction. Germany has a variety of bike routes. Over 70% of the German population owns bicycles and has proper knowledge of riding. Thus, all the above factors help to boost sales of bicycle shoes.
Category-wise Analysis
Trailblazing Trend: Mountain Bike Shoes Surge as Enthusiasts Pedal to New Heights
A mountain bicycle is a cycle suited for riding off-road. Mountain bikes are made to be more durable and perform better on tough terrain.
Consumer interest in participating in sports such as mountain bike stage races, gravel racing, and marathons is predicted to increase product demand, which will fuel the expansion of the mountain bike shoe market. Mountain bike shoes are made in such a way to keep the feet stiff, allowing all power to be transmitted to the pedals with no power loss.
In 2023, mountain bike shoes are expected to account for 53% of the global market share. At present road bike, shoes and touring & city bike shoes are likely to account for 25% & 12.5% of the global market share respectively. Winter shoes are water-resistant and are mostly used in the snowy region to be protected from wind and water. Winter shoes are likely to hold 5.5% of the global market share.
Pedaling Ahead: Unveiling the Thrilling Rivalry in Bicycle Shoe Realms
The competitive landscape of the bicycle shoe market is a dynamic tapestry woven with innovation and diversity. Established brands display their legacy, offering a spectrum of high-performance options enriched by years of expertise.
Emerging players challenge the status quo, introducing avant-garde designs that emphasize customization, sustainability, and technology integration. The race is fueled by a quest for optimal power transfer, enhanced comfort, and style. As cyclists seek the perfect fit for their journeys, the market is a dynamic arena where tradition converges with ingenuity, giving rise to a vibrant spectrum of choices that cater to every pedal stroke.
Product Portfolio
· Ride with Exustar’s innovative product portfolio. From cutting-edge cycling pedals to performance-enhancing accessories, each offering is engineered for precision and durability, delivering an exceptional cycling experience that meets the demands of both enthusiasts and professionals.
· Discover excellence with Scott Sports’ dynamic range. From high-performance mountain bikes to sleek road racers, their portfolio embodies Swiss precision and innovation. Unleash your potential with designs that seamlessly blend technology and athleticism, ensuring an exhilarating ride every time.
· Wiggle Ltd curates a cyclist’s paradise, housing a comprehensive collection of bikes, accessories, and apparel. As a one-stop destination, they cater to all levels and disciplines, ensuring optimal performance. Embrace Wiggle’s commitment to empowering cyclists worldwide, making each pedal stroke count.
These insights are based on a report on Bicycle Shoe Marketby Future Market Insights.
Recent Comments