Hard adventure sports equipment: Key market research findings
- The Americas dominate the market geographically
- Increasing popularity of a physically active lifestyle drives market growth
- Key vendors – Black Diamond, Jarden, Johnson Outdoors, SMC, and VF
Technavio’s market research analysts predict the global hard adventure sports equipment market to grow at a CAGR of over 2% between 2016 and 2020. The increasing participation in outdoor activities across the globe spurs growth in this market. It is expected that the popularity of leisure activities and outdoor sports including hard adventure sports will increase the expenditure on such activities significantly over the few years. Increased urbanization and the need to engage in physical exercises that also include activities such as trekking have resulted in increased participation in such activities. During 2015, the Americas dominated the global market by accounting for around 44% of the overall market share. Increased awareness of the benefits of a physically active lifestyle and the thriving adventure tourism industry in the region will fuel growth in the hard adventure sports equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the hard adventure sports equipment segments based on the activity.
“Man-made hard adventure sports experiences are becoming increasingly popular in the market. Hard adventure sports equipment is costlier in comparison to other traditional sports equipment available in the market. Besides, enthusiasts or athletes need to travel long distances during the correct season to be able to participate in most hard adventure sports. As a result, the availability of man-made facilities for the same work as an effective alternative for hard adventure sports,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
Trekking accounts for more than 45% of the global hard adventure sports equipment market owing to its comparatively easy nature when compared to climbing and caving. However, a rising interest in climbing and caving, both of which will likely become more popular during the forecast period, can be observed in recent times. Also, innovative variations of these activities like bouldering are gaining popularity, which will further boost the market’s growth over the next four years.
The key vendors in the market include Black Diamond, Jarden, Johnson Outdoors, SMC, and VF. The market is dominated by the leading international players such as Black Diamond, Jarden, Johnson Outdoors, Seattle Manufacturing Corporation, and VF. There is significant competition between these companies, which also leads to the introduction of many advanced products in the market.
A more detailed analysis is available in the Technavio report, Global Hard Adventure Sports Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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