Tag: Apparel

Street Skateboards Accessory Market Worth $275.2 Million By 2027

The global street skateboards accessory market size is anticipated to reach USD 275.2 million by 2027, expanding at a CAGR of 3.3%, according to a new report by Grand View Research, Inc. Growing adoption of outdoor sports activities as a fit and healthy lifestyle has raised the scope of the skateboard as a sport, which is supporting the growth of the market. In addition, owing to the sleek design and wide variety of products available, an increasing number of college students are picking up the sport, thereby boosting the application of skateboard footwear as well as apparel.

Increasing inclination of consumers, particularly teenagers, toward funky and attractive graphics displayed on the decks, has increased their interest in skateboarding. As a result, companies are taking constant efforts and strategize in order to gain popularity among consumers and increase their share in the market through innovation. For instance, in 2016, at the Paris Fashion Week, Dior launched its winter collection on a neon-colored skateboard catwalk ramp. In addition, several fashion designers and retailers use skateboard iconography. For instance, Santa Cruz Skateboards designer Jim Phillips earned a renowned status in the California market.

Among the various skateboards available, longboards witness maximum modifications and developments. For instance, Edgetrak, a military-grade tracking technologies designer and manufacturer, in collaboration with performance board producer Wefunk, offered the first telemetry-enabled racing prototype longboard called Mach 1, which is the world’s first deck with built-in telemetrics. The longboard has been designed with seven layers of Formula One grade carbon fiber with an Airex and Ash core. The product offers unmatched rigidity owing to the center channel with carbon fiber inlay. Thus, significant technical developments in the product category have resulted in the rising adoption of the product, thereby incurring strong growth prospects.

In terms of product, decks held a dominant position in the market in 2019. An increasing number of major international competitions such as Street League Skateboarding, World Cup Skateboarding, and World Skate Oceania Street Championship, which include a street skateboarding event, is foreseen to create an optimistic outlook for the demand for street skateboard decks over the forecast period.

The direct selling segment dominated the market and accounted for a revenue-based share of 82.3% in 2019. An increasing number of street skateboard accessories companies have also started selling skateboard decks, apparel, and shoes through their own websites or listing products on third-party e-commerce sites. This not only helps companies establish a good relationship with customers by offering them doorstep deliveries but also improves the sellers’ profitability margin.

The offline channel segment dominated the market and accounted for a revenue-based share of 76.2% in 2019. Skate shops and sporting goods stores have become a symbol of genuine products, which is foreseen to drive the sales of various street skateboard accessories. In addition, on-demand customization provided by skate shops for decks, wheels, and trucks is foreseen to drive segment growth in the coming years.

North America dominated the market with a revenue-based share of 46.4% in 2019. The proliferation of streetwear across high streets in North America has been pronounced, with many brands enjoying almost cult-like followings. The percentage of skateboarders who prefer the streets the most has been rising significantly, which is likely to present strong growth opportunities for skateboard decks over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/street-skateboards-accessories-market

Further key findings from the report suggest:

  • The deck product segment is expected to reach USD 155.0 million by 2027, growing at a CAGR of 3.8% from 2020 to 2027
  • The fundraising sales segment was valued at USD 37.7 million in 2019 and is expected to reach USD 51.7 million by 2027
  • Asia Pacific is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.1% from 2020 to 2027
  • Top players operating in the market are Element Skateboards, Nike, Inc., Adidas AG, Skate One, Santa Cruz Skateboards, Sector 9, Zero Skateboards, Almost Skateboards, Absolute Board Co. and Plan B Skateboards.

Workwear Market Size Worth $42.1 Billion By 2025

The global workwear market size is expected to reach USD 42.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% over the forecast period. Growing importance of workwear for establishing a good image of the organization in the minds of its clients and associates among the manufacturing firms at a global level is expected to have a positive impact on the market growth. Furthermore, supportive investment friendly policies aimed at upscaling the output in the manufacturing sector of emerging economies including China and India by the national governments is expected to remain a favorable factor over the next few years.

The apparel segment is expected to dominate the market over the next few years. Growing popularity of advanced apparel products fortified with fabric technology, which provides adaptable and lightweight characteristics is expected to have a strong impact. Furthermore, new product launches in terms of development of new apparels, which are equipped with sensors that help in maintaining body temperature, are expected to open new avenues.

The women segment is expected to be the fastest growing category from the period of 2019 to 2025. Over the past few years, the industry participants has launched new products due to increasing participation of women in heavy and hazardous work. For instance, in June 2018, Vajor launched a new workwear for working class women under the brand, ‘Cape & Cloth’. Workwear comprises a wide range of products including clean cut jumpsuits, trousers, pocket dresses, versatile shirts, effortless tops, and relaxed blazers.

Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of 6.9% from 2019 to 2025. Urbanization and infrastructure development in emerging economies including China, India, Thailand, and Philippines is expected to promote the establishment of new commercial set-ups and thus, in turn, will promote the use of workwear. Furthermore, increasing number of smartphone users in the above-mentioned countries is expected to drive workwear manufacturing firms to deploy online channels as a selling medium in order to expand their market reach over the next few years.

Key industry participants include Carhartt Inc.; Alamark, Alsico NV; Alexandra; A. LAFONT SAS; ADITYA BIRLA GROUP; 3M; ANSELL Ltd.; Honeywell International Inc.; and Kimberly-Clark Worldwide, Inc. Companies are adopting strategies such as mergers and acquisitions to increase their market reach. For instance, in January 2018, AHLSELL acquires OUTLET within workwear and personal protection in Västerås.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/workwear-market

Further key findings from the report suggest:

  • Apparel products accounted for the largest share of more than 75.0% in 2018
  • Men category dominated the workwear market with a share of over 55.0% in 2018
  • North America dominated the industry in 2018, accounting for more than 45.0% share of the global revenue.