Global Hiking Gear and Equipment Market 2016-2020
A diverse range of hiking equipment such as hiking apparel, hiking shoes, sleeping bags, tents, and backpacks are used for activities like camping, hiking, and climbing. The hiking equipment available in the market vary in size, insulation, design, material, temperature rating, and other parameters. Countries like the US and Australia are witnessing a rise in the number of hikers since past few years. In the US, the number of hikers has risen from 33.06 million hikers in 2011 to 38.67 million hikers in 2015.
Technavio’s analysts forecast the global hiking gear and equipment market to grow at a CAGR of 2.53% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hiking gear and equipment market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of hiking gear and equipment to individual consumers, as well as to associations.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hiking Gear and Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global hiking gear and equipment market: Arc’teryx, Black Diamond, Marmot, Mountain Hardwear, and The North Face.
Other Prominent Vendors in the market are: AMG, Big Agnes, Force Ten, Hilleberg, Kelty, MontBell, Outwell, Paddy Pallin, Sierra Designs, Skandika, and Skandika.
Commenting on the report, an analyst from Technavio’s team said: “The rise in value-added and innovative adventure sports products is an important emerging trend, which is expected to have a positive impact on market growth during the forecast period. To cater to the varied needs of consumers, vendors today are introducing innovative product offerings in terms of design, color, shape, and weight. The competition among key players is intense, and it becomes necessary for these manufacturers to constantly improve their product offerings in order to maintain their position in the market. For instance, manufacturers have started reinventing the insulation used in tents, which helps in keeping cold air from reaching the user's body.”
According to the report, one of the key drivers for market growth will be government initiatives to promote outdoor activities. In many countries, the government is introducing initiatives to promote various outdoor activities, which can boost the growth of the hiking gear and equipment market during the forecast period. In India, the Ministry of Tourism is working with the Indian Mountaineering Federation and Adventure Tour Operators Association to promote the country as an adventure tourism destination. In 2013, the Indian government gave security clearance for the opening of 104 additional peaks to visitors in Leh, Jammu and Kashmir. This will help promote the Indian Himalayas as an adventure tourism destination.
Further, the report states that growing popularity of RVs will be a challenge for the market. The growing popularity of RVs across the globe can hinder the growth of the hiking gear and equipment market during the forecast period. The comfort of RVs over traditional campsites, can decrease the demand for hiking gear like hiking shoes, hiking rods, and sleeping bags over the next five years. This is because people prefer to drive to the campsite, rather than hike to it. Moreover, due to the increased preference for glamping seen across the world, the demand for RVs is also on the rise, which can restrict the growth of the hiking gear and equipment market during the forecast period. In early 2015, Australia reported 586,585 registered RVs compared to 528,869 in 2013 and 502,025 in 2012. In 2011, 8.9 million households in the US owned an RV.
Arc’teryx, Black Diamond, Marmot, Mountain Hardwear, The North Face, AMG, Big Agnes, Force Ten, Hilleberg, Kelty, MontBell, Outwell, Paddy Pallin, Sierra Designs, Skandika, and Skandika.
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