Global Hard Adventure Sports Equipment Market 2016-2020
Overview of the global hard adventure sports equipment market
Extensive market research carried out by the analysts at Technavio has shown that the global hard adventure sports equipment market will grow steadily at a CAGR of more than 2% over the forecast period. The fast-paced and hectic lifestyle of people around the world has compelled individuals to seek out new ways to de-stress and relax. The rising need to de-stress and break away from regular, mundane activities has resulted in an increasing number of people participating in outdoor sports and recreational activities. Moreover, factors like increasing urbanization and the growing need engage in physical activities such as trekking and hiking have led to an augmented participation in such activities, which will, in turn, bolster the growth of the adventure sports equipment market in the coming years.
In this industry research study, the analysts have estimated factors such as the influx of improved quality adventure sports equipment to spur the growth prospects for this market until the end of 2020. To cater to the varied needs of consumers, vendors have started introducing innovative product offerings in terms of design, color, shape, and weight. For example, vendors like Big Agnes, Eddie Bauer, Sea to Summit, NEMO, GoLite, and L.L. Bean offer sleeping bags with water repellent down infill. Moreover, trekkers are increasingly opting for bear-resistant camping coolers. These coolers keep food safe from bears and also protect the bears from the coolers, in case they tear into them. Also, innovations in the variety of camping stoves that are free-standing, lightweight, and easy to carry are also envisaged to positively impact the global hard adventure sports equipment market over the predicted period.
Segmentation by activity and analysis of the hard adventure sports equipment market
During 2015, trekking dominated the global market for hard adventure sports equipment and accounted for a market share of more than 48% in terms of revenue. In comparison to climbing and caving, trekking is less rigorous and can be undertaken in shorter trips; thus, encouraging higher participation. Furthermore, several adventure associations and clubs frequently organize trekking events, which has increased the popularity for some of the most sought after trekking destinations like Everest Base Camp, Pays Dogon, and Inca Trail.
Geographical segmentation and analysis of the hard adventure sports equipment market
The Americas led the global hard adventure sports equipment market during 2015 and is expected to reach close to USD 2 billion by 2020. The Americas is a popular destination for a number of outdoor adventure sports activities pursued by both tourists and the local population. Also, the presence of popular spots for trekking and caving in the region will contribute to the growth of this market in the region.
Competitive landscape and key vendors
The global hard adventure sports equipment market is highly fragmented owing to the presence of numerous small and large vendors. The vendors in this market compete in terms of price, quality, product differentiation, distribution, and promotion to gain maximum market prominence during the forecast period.
Key vendors in this market are -
- Black Diamond
- Johnson Outdoors
Other prominent vendors in the market include AMG Group, Big Agnes, CAMP Technical Adventure Equipment, Columbia Sportswear, Deuter Sport, Dive Rite, Exxel Outdoors, Gregory Mountain Products, High Sierra, Jack Wolfskin, Mad Rock Climbing, Omega Pacific, Osprey Packs, Petzl, Snugpak, and VAUDE.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global hard adventure sports equipment market?
- What are the key market trends impacting the growth of the global hard adventure sports equipment market?
- What are the challenges to market growth for the global hard adventure sports equipment market?
- Who are the key vendors in the global hard adventure sports equipment market?
- What are the market opportunities and threats faced by the vendors in the global hard adventure sports equipment market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of the global hard adventure sports equipment market?
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