Motorcycle Boot Market is Expected to Expand at a 3.8% CAGR to USD 859.7 Mn by 2032 | FMI
The global motorcycle boot market is projected to expand at a 3.8% CAGR to USD 859.7 million by 2032, up from USD 590 million in 2022. Motorcycle boots have ushered in a new era in the footwear industry. The key players are attempting to balance fashion and safety.
The footwear industry is now seeing a new trend brought on by motorcycle boots. The main players aim to balance style and security. The global motorcycle boots market is expanding as a result of rising disposable income, government initiatives, numerous racing competitions, motorcycle rallies, and celebrity endorsements.
The global market for motorcycle boots is expanding significantly as a result of the increasing popularity of motorcycle racing competitions across the globe. Due to their ability to absorb shock, motorcycle boots have become a necessity in every biker’s arsenal, greatly increasing their demand.
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Significance of Road Safety
Consumers’ growing awareness of the importance of road safety has fueled global demand for motorcycle boots. Motorcycle boots, in addition to protecting riders’ feet and ankles, aid in motorcyclists’ balance while riding.
Riders are increasingly wearing motorcycle boots to avoid accidents, which is having a significant impact on the global motorcycle boot market.
Barrier to the Market
The rigidity of the material used to make these boots causes feet to sweat and does not provide the necessary flexibility to riders. This, in turn, limits the use of these boots and, as a result, has a negative impact on the market’s growth. Nonetheless, companies are conducting research to find a suitable solution, and experts believe they will do so soon.
Two regional markets for motorcycle boots stand out above the rest.
The first is Europe, which has a significant market share due to government regulations and the growing focus of key market participants in this region on product innovation to increase their customer base.
The second and most promising region is North America. North America has remained at the top due to its large pool of motorcycle riders and the popularity of bike racing events. Even in the near future, the scenario does not appear to change significantly. The American Motorcyclist Association hosts a number of motorcycle events that are extremely popular among Americans, particularly young adults.
Due to the ease of shopping and convenience provided by online stores, the online distribution channel is expected to grow at the fastest CAGR of 7.2%.
Sport and race boots were the largest product segment, accounting for more than 60% of the market, and are expected to maintain their dominance.
Europe has the largest global motorcycle boot market, accounting for 21.9% of the total.
North America is the second largest global motorcycle boot market, accounting for 12.3% of the global market.
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The global motorcycle boot market is relatively fragmented and competitive. Alpinestars S.p.A, LeMans Corporation, Dainese S.p.A, FOX, FLY Racing, GAERNE USA, TCX S.r.l., FLY Racing, Dr. Scholl’s Shoes, and Kenneth Cole New York are among the key players in this market.
To stay competitive, players in the global motorcycle boot market continue to launch new products.
Icon 1000 recently debuted Varial Boot, a new line of motorcycle boots. Given their style and protection, these boots are considered a good buy in the mid-price range. Another new product on the market is Aether’s Moto Boot, which is said to be safer but a little pricey.
Alpinestars S.p.A. launched the Tech 10 series of riding gear, including riding boots, in July 2018. These riding shoes feature the most recent Front Flexion Control Frame technology, a resigned foot shell, and a slimmer outsole.
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