The increasing demand for driving protection components are equipment and apparatus are observed in the global market because of increasing accidents and its ability in safeguarding the individuals from destruction during driving. The safeguarding outfits would include specific kinds of boots, gloves, pants, and jackets. An increasing rate if of mishaps and accidents has headed for an increased driving protection by the government has enabled it as a mandatory elements to wear personal protecting gear, such as instance, defensive outfit and helmets.
In the recent years two wheelers are increasingly growing in their demand among the customers by which there is a need to the incorporation of protection gear in order to safeguard the personals. Increasing motorsports in the global market is also propelling the demand of the driving protection gear market.
“Global Driving Protection Gear Market was Valued at US$ xx Bn in 2018 and it is Expected to Reach More than US$ 10.7 Bn by 2027, Likely to Grow with the CAGR of 5.2% During the Forecast Period”
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The Helmet market is leading in the Global driving protection gear that shall contribute in the safeguarding the personals while driving. This could be attributed to the increased demand of the accidents and vehicle purchases that are supporting the rise in the demand of the protection gears market.
Asia pacific market is estimated to grow at a rapid pace due to increasing demand for the vehicles that could contribute to the profitability to the manufacturing companies located in this region. The region is also have lucrative opportunities for the advanced products that could be of high quality and standards because of an increase in the purchase of luxury vehicles in this region. These protection gears are also estimated to grow by the increased purchasing power of the population in this region.
The competitor companies manufacturing protective gears are advancing in the technology in their offerings that is creating high competition among them. The companies are also involved in the production of various types of protective gears by the increasing collaboration and partnerships through expanding their market foothold in the global market.
The prominent players operating in the market are listed as follows: OMP Racing S.p.A, Lemans Corporation, SCOTT Sports SA, Leatt Corporation, Fox Head Inc., Troy Lee Designs, Sparco S.p.A, Dainese S.p.A, EVS Sports, and Alpinestars S.p.A,
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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