Driving Footwear Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026

Global Driving Footwear Market: Overview

This report on the global driving footwear market provides analysis for the period 2016–2026, wherein 2017 is the base year and the period from 2018 till 2026 is the forecast period. Data for 2016 has been included as historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends that are expected to influence the expansion of the global driving footwear market during the said period. The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of value estimates (US$ Mn) and volume estimates (‘000 Units) across different geographies. 

Global Driving Footwear Market: Drivers and Opportunities

Rising demand for luxury cars is being witnessed across the globe. In Europe, which is one of the mature luxury car markets, demand for luxury cars is growing at a moderate rate. Global luxury car manufacturer, Daimler AG has launched a new variant of C-Class Sedan worldwide, which is increasing the demand for luxury cars across the globe.

Globally, rising number of billionaires is leading to an increase in demand for luxury cars. In 2010, the number of billionaires was 1,011 which increased at a CAGR of 10.2% to reach 1,810 billionaires in 2016. In 2010, the number of luxury cars sold was 17,365 which increased at a CAGR of 8.6% to reach 28,493 in 2016. Billionaires and sports/ racing car owners wear driving footwear specific to the cars they own. Global driving footwear manufacturers such as Puma SE make driving footwear for brands such as Ferrari, BMW, Mercedes, etc. Thus, rising demand for luxury cars or vehicles is increasing the demand for driving footwear across the globe.  

A major factor restraining the growth of the global driving footwear market are trade barriers imposed on China by Europe and the U.S. China is the largest manufacturer of driving footwear and dominates global footwear production. In the U.S., driving footwear manufacturers are already demanding an imposition of higher import duties on Chinese-made driving footwear. The U.S. initially agreed to implement the Trans-Pacific Partnership (TPP) with Far East and Pacific countries. But opposition from various U.S. based footwear manufacturers such as New Balance Athletics, Inc. (NB) against TPP resulted in withdrawal of the U.S from the TPP partnership. This is increasing the price of driving shoes in the U.S. and other developed countries. 

Global Driving Footwear Market: Key Segments

The study provides a conclusive view of the global driving footwear market by segmenting it in terms of product type, material type, vehicle type, consumer group, and distribution channel. In terms of product type, the driving footwear market has been classified into boots, shoes, and others. The others category includes sneakers, training shoes, etc. Based on material type, the market has been segmented into leather, synthetic, and natural fibers. Based on vehicle type, the market is segmented into two wheelers and four wheelers. Based on consumer group, the market is classified into men and women. In terms of distribution channel, the market is segmented into online and offline.

The analysis of the above segments is based on present and forecasted global demand for driving footwear products and prevailing and future trends in the market. We have analyzed the present and estimated regional market size of driving footwear products across North America, Europe, Asia Pacific, Middle East & Africa, and South America. The regional driving footwear market size is further broken down into country level markets in the following countries: the U.S., Canada, U.K., Germany, Italy, France, Spain, China, India, Japan, and Brazil. 

Global Driving Footwear Market: Competitive Landscape

The global driving footwear market consists of global players as well as large number of medium and small players.

The report includes a detailed analysis of the global driving footwear market, SWOT (Strength, Weakness, Opportunity, and Threat) analysis of the market, Porter’s Five Force analysis, and key macroeconomic indicators influencing the market. The industry analysis includes value chain analysis of the global driving footwear market.

The report highlights major companies operating in the global driving footwear market including Puma SE, Adidas AG, Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., SCOTT Sports SA, Lemans Corporation, Gianni Falco Srl, Sparco S.p.A, and Piloti Inc. 

These market players have been profiled in terms of attributes such as description of the company, financials (if available in the public domain), and products, key strategies to increase market share, and recent developments and strategies adopted to increase their market share in the driving footwear market.