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Motocross is an adventurous and physical biking sports activity and the equipment used for these activities are called motocross equipment. Some of the equipment such as knee pads, body armours, jackets, gloves, helmets, neck brace and others used in the riding as well as protection purposes. The rise in injuries and accidents to the bikers are expected to boost the market growth. It also helps to keep the driver away from external dirt and to provide a better grip to the riders. The increased number of professional biking sports are expected to drive the market growth.
The increased sales of high-performance safety gears and increasing concerns about the safety of the riders are expected to drive market growth. Also, several partnerships among the motorbike companies and equipment manufacturers are expected to boost the revenue of the market. However, the counterfeit bike equipment market is one of the major factors hampering the growth of the market. Also, due to the Covid-19 pandemic, the sales of bikes have decreased, hindering the growth of the market.
Key Market Driver -
the increased need in high performance biking gears and safety concerns of the riders are some of the major factors driving the growth of the market.
Key Market Restraint -
the counterfeit bike equipment market is one of the major factors hampering the growth of the market.
The global motocross equipment market is segmented by type, by sales channel and by geography. Based on type the market is further sub-segmented into riding equipment and protection equipment. Among these riding equipment, the segment is expected to account for the largest market share in the year 2020 and it is expected to continue its dominance over the forecast period. The riding equipment provides better safety to the riders while performing challenging stunts. This equipment is body-friendly which ensures better performance for long-distance racing competitions. The sales of riding equipment such as helmets, gloves and race kits are expected to rise significantly over the forecast period. Based on sales channels the market is segmented into franchised stores, speciality stores, online channels and others. The online channel segment accounted for the largest market share and it is expected to dominate the market during the forecast period with a steady CAGR. The increased adoption of e-commerce services in developing countries and the availability of a large variety of products on single platforms are expected to drive market growth. Also, the franchised stores segment is anticipated to grow significantly over the forecast period, the additional features such as customisation of riding equipment are one of the major factors driving the growth of the market.
Major players operating in the global die casting machinery market include Aero Stitch, Scott Sports, Fox Racing, AGVSports America LLC, Answer Racing, Joe Racing Jackets, FLY Racing Jackets, Shift MX, Ride Icon and Dainese among others.
Geographically, the global motocross equipment market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific held the largest share of the market in 2020 and it is expected to dominate the market during the forecast period with the highest CAGR. the factors such as the increased sale of motorcycles and numerous moto sports events in the developing countries are expected to drive the growth of the market. Also, the increased riding safety concerns are expected to drive the market growth. Europe is expected to be the second-largest region for the market and it is expected to grow steadily over the forecast period. The increased adoption of riding gears like helmets, jackets and gloves by rides for long-distance rides are some of the major factors driving the growth of the market. Europe is expected to account for a considerable share in the market and it is expected to grow rapidly over the forecast period the factors such as the presence of several major market players in the region and the rise in recreational activities in the region are expected to drive the market growth over the forecast period.
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