The expanding popularity of road and mountain bikes, as well as outdoor pursuits like camping, hiking, and fishing, are some of the major factors driving the cleated shoe market. The market is anticipated to develop as a result of manufacturers being able to produce shoes with improved stability and grip thanks to technological advancements. Additionally, the disposable income of people and the expansion of sports fashion have the largest advertising for cleated shoes, driving up prices and expanding the market.
The market for Cleated Shoes is significant since they give wearers more stability and grip while participating in outdoor activities. The cleats offer additional traction and stability, preventing skidding on slick or uneven ground. It also contributes to a reduction in fatigue by acting as a shock-absorbing cushion. Because of this, the shoe is perfect for outdoor sports like road and mountain biking.
Shoes with angled, rough-textured lugs, sometimes known as "cleats," are known as cleated shoes. They give the wearer more traction and support, which increases stability and grip while participating in outdoor activities like a road bike, mountain biking, and other sports. The cleats are available in a variety of sizes and shapes to offer the required level of grip, and they can be produced from different materials like metal, plastic, and rubber. Additionally, the cleats have removable studs that improve traction in slick or wet weather.
The market for cleated shoes is anticipated to reach a value of $61.8 billion in 2021 and $119.5 billion by 2031, growing at a CAGR of 6.6% over the forecast period of 2021–2031. The market for cleated shoes is primarily driven by the expanding popularity of outdoor activities like hiking, camping, hunting, and fishing, as well as the rising demand for road and mountain bikes. Additionally, it is anticipated that technological developments and the expansion of sports fashion will advance.
The global market for cleated shoes is challenged with a number of significant issues, including the escalating competition from alternatives like barefoot shoes and the accessibility of counterfeit goods. Additionally, the expensive expense of these shoes may be prohibitive for households with few resources. Additionally, the use of cleats that aren't biodegradable, like those made of plastic and rubber, can have a detrimental impact on the environment and hinder the market's expansion. Conversely, it is anticipated that the introduction of environmentally friendly cleats and the popularisation of mountain biking will have a favourable effect on the industry.
The Mountain Lock shoe Segment emerged as the Most Lucrative Type
The cleated shoe industry is primarily divided into mountain lock shoes and road lock shoes based on type. Mountain lock shoes are anticipated to see the greatest CAGR during the projection period due to their improved traction, grip, and stability on rocky terrain. These shoes additionally offer comfort and defence against rocks, sticks, and other trailside detritus.
The Most Prominent Application is the Mountain Bikes Segment
The cleated shoe market is divided into two categories based on application: road bikes and mountain bikes. Due to their rising popularity in recreational activities like bicycling and racing, as well as the rising demand for both off-road and competitive mountain riding, mountain bikes are predicted to be the dominant application.
The On-premise Segment to emerge as the Most Promising Deployment Type
The cleated shoe industry is divided into two categories based on deployment: on-premise and cloud. Due to its cost-effectiveness and superior security features, the on-premise category is anticipated to grow at the fastest rate during the projection period. The rising demand for customization and scalability is another element boosting this market's expansion.
The North American Region to render Ample Financing Opportunities
Geographically, North America dominates the market for cleated shoes due to the region's high demand for athletic footwear and the rising popularity of outdoor pursuits including hiking, camping, hunting and fishing. The existence of major companies like Nike and Reebok, which are actively involved in product releases and strategic alliances, is another element fostering the growth of this area.
COVID-19 Impact and Market Status
The COVID-19 epidemic has impacted the global market for cleated shoes by impeding the industry's supply chain and production. Production has drastically dropped as a result of the COVID-19 outbreak's influence on the availability of raw materials for manufacturing activities. Sales of cleated shoes have also decreased as a result of the closure of manufacturers and stores in important markets like the US, China, India, and many other nations worldwide. Due to the pandemic, the market is anticipated to have a fall in 2020; however, it is anticipated to recover starting in 2021.
Reebok International Ltd., Nike Inc., Sketchers USA Inc., Puma SE, ASICS Corporation, Adidas AG, Under Armour, Inc., New Balance Athletics Inc., and The North Face are a few of the prominent companies in the global market for cleated shoes. To obtain a competitive edge in the market, these businesses are actively involved in product launches, strategic alliances, and collaborations.
Recent Developments in the Cleated Shoe Market
• In 2019, Adidas and Five Ten, the renowned manufacturer of cycling and climbing shoes, introduced their first-ever mountain bike cleated shoes. The brand-new item is made to provide the best comfort and grip possible for both on- and off-road cycling.
• The SH-GR900 is a new line of mountain bike shoes from Shimano that was released in 2019. The cleated shoe is made for riders who want better stability and power transfer on technical courses.
• A new line of off-road cycling shoes from Shimano was introduced in 2020 with models made for cyclocross, gravel riding, and mountain biking. Riders can regulate the amount of float in their pedal stroke thanks to the shoe's two-piece outsole construction and innovative cleat system.
• Mavic debuted its new line of power-transfer-optimized mountain bike cleated shoes in 2021. Riders who are tackling technical trails will benefit from the support and stability this shoe provides thanks to its carbon-reinforced sole.
• Five Ten is planning to introduce a new brand of cleated mountain bike shoes in 2022. Advanced technology will be used in the shoe, including a rubber outsole with anti-slip properties, waterproof breathability, and an asymmetrical lacing system for improved power transfer. In the upcoming years, the market for cleated shoes is anticipated to be driven by these innovative products.
Cleated Shoe Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||$119.5 billion|
|Growth Rate||CAGR of 6.6 % during 2022-2031|
|Segment Covered||by Type, By Application, by Deployment, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Reebok International Ltd., Nike Inc., Sketchers USA Inc., Puma SE, ASICS Corporation, Adidas AG, Under Armour, Inc., New Balance Athletics Inc., and The North Face|
Key Segments of the Cleated Shoe Market
Type Overview, 2021-2031 (USD Billion)
- Mountain Lock Shoes
- Road Lock Shoes
Application Overview, 2021-2031 (USD Billion)
- Road Bikes
- Mountain Bikes
Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa