Mountain Bike Footwear and Socks Market Size, Share, Growth, and Industry Analysis, By Type (Mountain Bike Footwear, Mountain Bike Socks), By Application (Hypermarket, Specialty Store, Online Store, Others) and Regional Forecast to 2028

Updated On: 22 April 2024

REPORT OVERVIEW

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The global mountain bike footwear and socks market size was USD 5026.6 million in 2021. As per our research, the mountain bike footwear and socks market is expected to reach USD 6459.6 million by 2028, exhibiting a CAGR of 3.2% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, mountain bike footwear and socks experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Shoes, boots, and pedals binders are all types of footwear for mountain bikes. There are various types of mountain bicycle footwear, including cross country racing boots, which are light and low profile that have durable carbon soles to provide traction in loose dirt situations, downhill mountain biking shoes, which feature a hard protective coating on the sole to absorb shock when traveling over rocks or roots, and pedal bindings, which are the component of a mountain bike that links the cyclist's foot to the frame of the bicycle. Padded cycling socks, regular riding socks, and wintertime riding boots are all parts of the category of mountain bike socks.

The market growth is predicted to be fuelled by the availability of a large selection of items with the opportunity to evaluate them according to features and pricing, quick product delivery, and simple return procedures.

COVID-19 Impact: Interruption in Services to Deplete Market Growth

Mountain bike footwear and socks sales first experienced a decline as a result of the shutdown of offline stores globally as a result of limitations brought on by the COVID-19 outbreak. After the pandemic, however, there has been a noticeable increase in customers attempting to avoid public transit out of a fear of getting the virus, and demand for the product has just started picking up and almost returned to normal. Additionally, with customers becoming more health conscious, mountain bike footwear and socks are now viewed as a trustworthy and healthful form of transportation.

LATEST TRENDS

"Rising Consumer Interest in Participatory Event to Stimulate Market Development "

It is anticipated that rising consumer interest in participatory events including mountain bike stage races, marathons, and gravel races will drive product demand and, in turn, propel the expansion of the mountain bike footwear and socks market growth. Unlike mountain bike shoes, which are made to keep the foot tight and transmit full power to the pedals without any power loss, traditional shoes are flexible. Additionally useful while strolling, casual street biking, and cycling indoors are MTB shoes that have two cleat holes, often known as SPD cleats. Depending on the kind of pedals, consumers choose MTB shoes that are flat or clipless.

SEGMENTATION

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• By Type

Based on type; the market is divided into mountain bike footwear, mountain bike sock

Mountain bike footwear is the leading part of the type segment.

• By Application

Based on the application; the market is divided into hypermarket, specialty store, online store, others

Hypermarket is the leading part of the application segment.

DRIVING FACTORS

"Growth in Product Characteristics to Aid Market Expansion "

Mountain bike footwear and socks market share expansion is being supported by product characteristics including enhanced ventilation offered by mesh openings at the top, bottom, or both. High ventilation and a number of shoe fastening options, including Velcro straps, dial systems, ratchet buckles, and laces, are expected to drive increasing demand for the product. While some manufacturers concentrate on enhancing the drainage capacity, others have introduced waterproof and dust-resistant shoes. The primary difficulties riders of bikes confront are combined by the manufacturers.  Boa Technology Inc. is collaborating with manufacturers all around the world to use its dial fastening method.

Customers favor the Boa Fit System IP-1 along with L6 product category because of its micro-adjustable dial, which enables riders to achieve a uniform fit free of pressure spots.

"Offline Distribution Channels to Foster Industry Progress "

Over the anticipated period, it is anticipated that the category of offline distribution channels will continue to have the greatest market share. The expansion is attributable to an increase in specialist shops selling cycling gear and accessories. When buying MTBs, customers prefer to get shoes and other accessories. In order to get the proper fit and learn how the shoe interacts with the bicycle pedals, they also prefer to buy their shoes in stores.

RESTRAINING FACTORS

"Additional Pressure on the Feet to Limit the Market Evolution "

Even if riding with a mountain bike footwear and socks onto a road has many benefits, road racers use certain footwear for a reason. That implies that there must also be some drawbacks. Because mountain bike footwear and socks are comprised of stronger materials, they occasionally run the risk of becoming hotter.

Mountain bike shoes frequently have less holes within the material and less breathable shoes. When the sun is hammering down on the dark asphalt, it can be beneficial in wintertime or under difficult conditions, but the additional pressure on the feet may push one over the edge.

REGIONAL INSIGHTS

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"Rising Leisure Activity in Asia Pacific to Support Market Advancement "

The region with the fastest CAGR growth of the mountain bike footwear and socks market is predicted to be Asia Pacific. The region is expected to grow as mountain biking becomes more popular as a leisure and thrilling activity in nations including Japan, China, Singapore, and others. The requirement of around the region is being supported by an increase in online purchases as well as an increasing amount of specialty retail sports accessory stores.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Shimano (Japan)
• Five Ten Footwear Company (U.S.)
• Diadora Sports (Italy)
• Trek Bicycle Corporation (U.S.)
• Louis Garneau Sports (U.S.)
• Giro (U.S.)
• Cannondale (U.S.)
• Mavic (France)
• Fizik (Italy)
• Northwave (Italy)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.