Market Snapshot:
Racing Suit, also known as Racing Overalls, or Fire Suit attributed to its fire retardant properties, is the clothing which is worn in many forms of auto racing by racing drivers, as well as crew members who work on the vehicles during races and track safety workers or marshals, and in some series commentators at the event. Many racing suits utilize fabric made of Nomex, a synthetic material that is produced by the company, DuPont which retains its fire-retardant properties over time as well as usage. The key players in the market offer many types of racing suits such as car racing suit, and moto racing suit, used for application such as car racing and moto racing.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Racing Suit MarketResearch market by Type, Application and Region.
On the basis of geography, the market of Racing Suit MarketResearch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Drivers
Increasing popularity of racing around the globe and Increasing disposable income of people
Opportunities
Technological advancements in fabric used in racing suit
Restraints
- High Cost of Racing Suits
In addition to the aforementioned factor, Increasing popularity of racing around the globe
is expected to propel the growth of the market over the forecast period.
The key Vendors profiled in the study are Adidas AG (Germany), Alpinestars (Italy), Impact! Racing (United States), Dainese (Italy), Oakley, Inc. (United States), OMP Racing (Italy), Puma SE (Germany), Simpson Performance Products (United States) and Stance 21 Racewear (France). A lot of Italian and United States players are profiled in the research study indicating a strong market dependence.