Hiking Gear & Equipment: Introduction
- Hiking gear and equipment are required during outdoor trips during multiple-day hikes, one day-hikes, backpacking trips, walking tours, and trekking.
- The required equipment is decided as per the distance, duration, environment, and planned activities. Weight is an important factor while selecting hiking gear.
Key Drivers of the Global Hiking Gear & Equipment Market
- Increasing interest in different types of sports activities among millennial and generation is expected to boost the market growth for hiking gear & equipment.
- Consumer awareness about the importance of short recreational activities, healthy lifestyles, and fitness regimes are driving the population toward adventure sports activities.
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Rising Number of Outdoor Sports Activity to Create New Market Opportunities
- Increasing participation in hiking is boosting the sale of hiking gear and equipment. As per data released by Outdoor Foundation, in 2017 over 146.1 million people in the U.S. had participated in outdoor activity. This factor is likely to create new opportunity for market growth.
Growing Number of Accidents to Hamper the Market
- The average ratio of accidents during hiking trips has grown in the last few years. Limited consumer awareness in developing countries about the importance of using safety products during hiking is creating a huge challenge to the growth of this market.
Asia Pacific Expected to Experience Higher Growth in the Global Hiking Gear & Equipment Market
- Asia Pacific is the fastest growing hiking gear & equipment market as a result of increasing number of outdoor sports activity in developing countries such as India, China, and Sri Lanka. Increase in disposable income among the middle class population coupled with growing consumer spending on tours and travels is expected to propel the growth of the market in Asia Pacific.
- North America is the largest market for hiking gear and equipment. Consumers indulge in adventure sports activity to get a break from their daily hectic lifestyles. Growing trend of experiencing the Appalachian Trail hike is driving people toward this activity. According to a report published by Appalachian Trail Conservancy (ATC), the average hiker count from Georgia to Maine doubled in 2017 with a head count of 3,735. This factor is driving sales of hiking gear in this region.
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Key Players Operating in the Global Market
The global hiking gear & equipment market is fragmented in nature with the presence of large number of small and large players. Companies are adopting the strategy of product innovation & development as well as investing in geographical expansion. Adidas AG introduced premium hiking boots in February 2019. Some of the large players are acquiring small scale players to increase their product range and market share as well as geographical reach in the hiking gear & equipment market. A few of the key players operating in the global hiking gear & equipment market are listed below:
- The North Face
- Mountain Hardware
- Black Diamond Equipment Ltd.
- Marmot Mountain LLC
- Amer Sports
- Equinox Ltd.
- Montbell Co., Ltd.
- AMG-Group and Sierra Designs
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