Travel and Business Bags Market in China 2015-2019 Description
TechNavio - Infiniti Research Ltd.
Travel and Business Bags Market in China 2015-2019
About Travel and Business Bags Market in China
A rise in demand for trolley bags, as a consequence of increased travel and tourism activities, and the rising number of business travellers are driving the travel and business bags market in China. Rapid urbanization has contributed to improved living standard in China, resulting in consumers increasingly opting for stylish, and large bags for their travels.The Chinese luggage market has undergone significant changes in terms of development and innovation in products in the last 20 years and more. Despite being the largest manufacturing hub of travel and business bags, it is still not the leading market in the world. This is primarily because most of the companies here have not received enough global exposure or investment on a large scale, which restricted their global reach. However, the changing political, economic, and social environment, and the rising e-commerce sector will propel growth in China, making it a recognized market globally.The travel and business bags market in China can be segmented into four segments: Duffle bags, trolley bags and suitcases, backpacks, and business bags. The trolley bags and suitcase was the largest segment in terms of revenue and volume accounting for a market share of 39.62% and 35.06%, respectively.
Technavio predicts that the travel and business bags market in China will grow at a CAGR of 11.50% and 9.07%, in revenue and volume respectively, during 2014-2019.
Covered in this Report
The Technavio report, Travel and Business Bags Market in China 2015-2019, is based on an in-depth market analysis, with inputs from industry experts. It covers the growth prospects of the market in the forecast period. The report also includes a discussion of the key vendors operating in the market.
Key Vendors
- Ace
- Baigou Bodian Luggage And Cases Bag
- Delsey
- Dragon King Case
- Dudley
- Guangdong Leaves King Bag Industry
- HOCK International Group
- Rimowa
- Samsonite
- Shanghai Arch Industrial
- Shanghai Champion Trading
- UTC
- VF
- Yullex Group (China)
Other Prominent Vendors- Adidas
- Anyvention
- Aldo
- Alfred Dunhill
- Boconi
- C & J Clark International
- Caribee
- Changshu Maydiang, Group
- Donna Karan International (DKNY)
- Ferrari
- Fossil
- Hangzhou Xingchi Luggage
- Marksman Luggage & Bag Industrial
- Pierre Cardin
- Puma
- Shenzhen Binhao Luggage & Bag
- Taizhou Baby Care Kids Products
- USB International
- Wenger
- Xietong Luggage
- Zhejiang Bubule Bags & Cases
Market Driver- Growth in Tourism Activities
- For a full, detailed list, view our report
Market Challenge- Increase in Competition from Local Brands and Counterfeit Products
- For a full, detailed list, view our report
Market Trend- Smart Luggage
- For a full, detailed list, view our report
Key Questions Answered in this Report- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Press Release
Technavio Announces the Publication of its Research Report – Travel and Business Bags Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Travel and Business Bags Market in China: Ace, Baigou Bodian Luggage And Cases Bag, Delsey, Dragon King Case, Dudley, Guangdong Leaves King Bag Industry, HOCK International Group, Rimowa, Samsonite, Shanghai Arch Industrial, Shanghai Champion Trading, UTC, VF and Yullex Group (China)
Other Prominent Vendors in the market are: Adidas, Anyvention, Aldo, Alfred Dunhill, Boconi, C & J Clark International, Caribee, Changshu Maydiang, Group, Donna Karan International (DKNY), Ferrari, Fossil, Hangzhou Xingchi Luggage, Marksman Luggage & Bag Industrial, Pierre Cardin, Puma, Shenzhen Binhao Luggage & Bag, Taizhou Baby Care Kids Products, USB International, Wenger, Xietong Luggage and Zhejiang Bubule Bags & Cases
Commenting on the report, an analyst from Technavio’s team said: “A new concept that is forecast to dynamically change the structure of the luggage industry is smart luggage. Smart luggage is a very innovative and niche upcoming segment in the industry; it is empowered by modern technologies such as GPS tracking, locking and unlocking using mobile apps, and trip tracking. It makes travel hassle-free and increases luggage security. The electronic devices may be available as separate packable devices or built into the luggage. The leading companies in the smart luggage segment are eGeeTouch, which offers smart locks, and Indiegogo, which offers Bluesmart, a carry-on luggage that can be controlled through a smartphone.”
According to the report, sales of trolley bags are driving the travel and business bags market in China, as this segment accounts for the largest market shares in terms of revenue and volume, respectively. In addition, it will register the highest CAGR of all the segments in the market. Wealthy consumers, such as enterprise senior cadres and government administrative personnel, generally bought higher priced and branded trolley bags of 21 inches or less. Their focus was more on elegance and brand. Sales of these trolley bags were mainly through department stores and specialty stores. At the other end of the market, business trolleys were in demand in the upscale market; however, most of the top brands do not offer a business trolley.
Further, the report states that the presence of many inexpensive imitations in the market is leading to market fragmentation, resulting in issues such as lack of price standardization, an uneven competitive scenario, and market share erosion.
Companies Mentioned
Ace, Baigou Bodian Luggage And Cases Bag, Delsey, Dragon King Case, Dudley, Guangdong Leaves King Bag Industry, HOCK International Group, Rimowa, Samsonite, Shanghai Arch Industrial, Shanghai Champion Trading, UTC, VF, Yullex Group (China), Adidas, Anyvention, Aldo, Alfred Dunhill, Boconi, C & J Clark International, Caribee, Changshu Maydiang, Group, Donna Karan International (DKNY), Ferrari, Fossil, Hangzhou Xingchi Luggage, Marksman Luggage & Bag Industrial, Pierre Cardin, Puma, Shenzhen Binhao Luggage & Bag, Taizhou Baby Care Kids Products, USB International, Wenger, Xietong Luggage, Zhejiang Bubule Bags & Cases
