According to the latest market research study released by Technavio, the global hiking gear and equipment market is expected to grow at a CAGR of close to 3% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global hiking gear and equipment market based on product type:
Global hiking gear and equipment market share by product type 2015
|
Hiking Apparel |
57.20% |
|
Hiking Shoes |
26.01% |
|
Hiking Equipment |
16.79% |
Source: Technavio
Global hiking apparel market
The global hiking apparel market was valued at almost $7 and is expected to grow at a CAGR of more than 3% by 2020. The vendors in the market are focusing on quality and functionality of the apparel to increase their sales and profitability. The growing demand for innovations in terms of storage, comfort, and design change will boost sales in the market. The players are also improving apparel designs to differentiate their offerings and stimulate demand. In addition, the manufacturers are also launching outdoor clothing that is fashionable and technically balanced to meet consumer requirements. For instance, Macpac recently launched fashionable travel apparel as a part of a new brand called Alchemy Equipment.
“The vendors are introducing products that are of superior quality, looks fashionable and chic, and that also have technical efficiencies and features. The companies are focusing on launching lightweight outdoor apparel and that have durability as well. Development and innovation in hiking apparel are one of the primary drivers for the growth of the hiking apparel market,” says Mantri Charan Kumar, a lead analyst at Technavio for research on outdoor gear.
Global hiking shoes market
The global hiking shoe market was valued at more than $3 and is expected to grow at a CAGR of around 1% by 2020. The introduction of new designs of hiking boots and sandals will boost the demand for products in this market segment. The manufacturers in the industry are concentrating on durable designs and comfort, especially for long-duration hikes. The vendors are also expanding their distribution channel by using a network of independent distributors and licensed stores. The increasing effort by companies to market and launch their products in developing countries will promote the growth of this market segment during the forecast period.
Global other hiking equipment market
The global hiking equipment market was valued at around $2 and is expected to grow at a CAGR of almost 3% by 2020. The hiking equipment segment includes sleeping bags, tents, backpacks, mats, cooling boxes, headlamps, stoves, lanterns, and water bottles. The introduction of various products with innovative functionalities will lead to the growth of this market segment. Sleeping bags are integral components of camping and hiking equipment and generate the highest revenue in this market segment. The growing availability of various types of camping stoves like solid fuel stoves, unpressurized liquid stoves, pressurized liquid stoves, and gas stoves will boost the demand for hiking equipment.
The top leading vendors operating in the global hiking gear and equipment market are:
- Arc’teryx
- Marmot
- The North Face
- Black Diamond
- Mountain Hardwear
- Marmont Mountain
Other prominent vendors in the market include AMG Group, Big Agnes, Force Ten, Hilleberg, Kelty, MontBell, Outwell, Paddy Pallin, Sierra Designs, Skandika, and Snugpak.
A more detailed analysis is available in the Technavio report titled, ‘Global Hiking Gear and Equipment Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Camping Tent Market 2016-2020
- Global Sports Equipment Market 2016-2020
- Global Camping Sleeping Bags Market 2015-2019
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