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The Model Kits for Hobbyists Market size is estimated to grow at a CAGR of 3.48% between 2022 and 2027. The market size is forecast to increase by USD 201.7 million. The growth of the market depends on several factors such as the growing disposable income of the middle-class population, the growing access to TV and the Internet for children, and the rise in online sales.
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This model kits for hobbyists market report extensively covers market segmentation by Type (automobiles, military vehicles, aircraft, ships, and others), End-user (beginner and professional), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The automobile segment is estimated to witness significant growth during the forecast period. The market for hobbyist model kits is still largely dominated by automotive models and kits, reflecting enthusiasts' desire to recreate legendary vehicles. Classic vehicles such as the Ford Mustang and vintage European sports vehicles such as the Porsche 911 continue to be popular alternatives.
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The automobile segment was the largest segment and was valued at USD 311.87 million in 2017. Intricate modification kits are also on the rise, allowing hobbyists to personalize their models with distinctive paint jobs, decals, and aftermarket parts. Technological developments have allowed these kits to give greater detail and realism, which has improved the entire experience of being an enthusiast.
A significant trend in the hobbyist market for model kits is the increasing integration of movie and TV franchise tie-ins. This market, which includes collectibles, is globally expanding due to the release of major movie franchises worldwide. This growth, coupled with the rise of e-commerce, has led to an increased demand for licensing agents by licensors looking to enhance their global portfolios and enter new markets. The release of movie series within a single franchise, such as those by Marvel Entertainment, is driving higher demand for collectibles associated with these films, fueled by prolonged consumer exposure. With several Marvel Entertainment movies planned for the coming years, the demand for movie merchandise and model kits is expected to persist in the forecast period.
The model kits for hobbyists market faces a significant challenge due to increasing market fragmentation. The presence of both domestic and foreign players has created a moderately competitive global market. Local players play a substantial role by offering economically priced products that cater to the preferences of local consumers.
In addition, the market is further complicated by numerous unorganized players, including small- and mid-size handicraft manufacturers. These players, being unregistered, lack an official role in the market's growth. The intense competition is exacerbated by low product differentiation, necessitating constant innovation, conceptualization, licensing agreements, new content creation, and stocking of the latest designs. This challenge is expected to hinder the market's growth in the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America contributed the highest revenue share to the global model kits for hobbyists market. The US and Canada are major revenue contributors in this region. One of the major factors driving the regional market growth is the rise in the purchasing power of the middle-class population and the increase in the average disposable income of the entire population. Beginner end-users are also shifting their focus toward scientific and educational model kits, as playing with these model kits will result in the enhancement of knowledge among kids.
Therefore, vendors are introducing new model kits every year, including new aircraft and vintage classic car model kits. Therefore, the rising spending capacity of consumers and the presence of several prominent vendors are expected to propel the growth of the market in focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Academy Plastic Model Co. Ltd.- The company offers model kits for hobbyists such as 13425 USMC M60A1 Rise, 15776S New God Phoenix, and 12324 SB2U 3 Battle of Midway.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Model Kits For Hobbyists Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.48% |
Market growth 2023-2027 |
USD 201.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.26 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABER, Academy Plastic Model Co. Ltd., Accurate Armour Ltd, Aoshima Bunka Kyozai Co. Ltd., Arma Hobby S.C., Dragon Models Ltd., Hasegawa Corp., Heller Hobby GmbH, Hong Kong Models Co. Ltd, Hornby Hobbies Ltd., Italeri SpA, Moebius Models, Motormax Toy Factory Ltd., Ningbo Weijun Culture Development Co. Ltd. , Revell GmbH, Round2 Corp. LLC, Tamiya Inc., TM MINIART MODELS, Waltersons Industries Group Ltd., and Yatai Electric Appliances Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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