The global riding boots market size is projected to value USD 2.18 billion by 2025, according to a new report published by Million Insights, with a CAGR of 6.1% from 2019 to 2025. The rising interest among the young population for sport, cruiser, and dirt bikes for recreational and adventure activities is anticipated to be the major driver for market growth. The increasing awareness for safety measures to safeguard against road accidents is expected to fuel the demand for different safety gear like riding boots.
Strict government policies catering to higher usage of safety gear like riding boots for pillions and riders are predicted to have a favorable impact on the industry. The increasing cases of road accidents are among the major threats for the authorities and the government which has encouraged them to introduce sustainable and effective safety measures. The adoption of these rules is expected to drive the demand for riding boots over the years. As stated by the World Health Organization (WHO) in its Global Status Report on Road Safety 2018, around 1.35 million people died in different road accidents in 2016. The increasing awareness for safe riding is predicted to surge the demand for bike shoes over the forecast duration.
By product, sport and race boots held the largest share of over 60% in 2018 and is expected to lead throughout the forecast period. The industry participants are focusing on launching innovative shoes manufactured using composite materials to offer maximum comfort and safety. For example, Alpinestars S.p.A, in July 2018, launched its latest range of riding gears which also include riding boots under the brand name Tech 10. The boots are designed with advanced technology, that is, the Front Flexion Control Frame with the slimmer outsole and resigned foot shell. The company states that the new buckles provided to the boots are better to operate and are durable. Such product developments are expected to propel the growth of the riding boots market.
Europe accounted for the leading market share of 30% for the year 2018. The presence of eminent market players like Aprilia, Ducati, Cagiva, and Benelli is anticipated to drive the popularity of motorbikes in the region and thus, open new avenues for the riding footwear products. The major players like Alpinestars S.p.A, Dainese S.p.A, LeMans Corporation, FOX, TCX S.r.l., and FLY Racing aim at introducing innovative products to attract a larger customer base.
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Further key findings from the report suggest:
• Asia Pacific is predicted to grow at a CAGR of 6.6% for the period of 2019 to 2025 due to the stringent safety rules applied by the governments in countries like Japan, China, India, and South Korea.
• Cruising and touring riding boots market is anticipated to register a CAGR of 6.3% over the forecast period due to the growing popularity of road trips.
• The online channel is expected to grow at the fastest CAGR of 6.8% for the period of 2019 to 2025 owing to its benefits like convenience and ease of shopping provided to the customers.
• The key players in the market include Harley-Davidson, Inc., Alpinestars S.p.A, SULLIVAN’S INC., Dainese S.p.A, LeMans Corporation, FOX, TCX S.r.l., Royal Enfield, and FLY Racing.
Million Insights has segmented the global riding boots market on the basis of product, distribution channel, and region:
Riding Boots Product Outlook (Revenue, USD Million, 2015 - 2025)
• Sport & Race Boots
• Cruising & Touring Boots
• Adventure & Dual Sport Boots
Riding Boots Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Riding Boots Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa