Trail sports accessories are products designed for running, or hiking on trails, and include several design features. Accessories used in trail sports differ from those used in track running or road running, as these accessories have to adapt the mountainous terrain, wherein much larger descents and ascents are encountered. Accessories used in trail sports include shoes, tents, back packs, trekking poles, headlamps/ lanterns, helmet, and gloves.
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Trail sports continue to be a trend across all age groups. Trail sport is becoming more of a mass phenomenon, and is gaining attraction of new interested parties, students, and hip young runners. Social running is gaining traction, with many running clubs organizing their runs through online social groups. Although app developers, with their excellent work, have enabled trail runners in running together at high level of terrains, it is yet a challenge for trail runners, and hikers to orient themselves and seek a good application, which is used in common by their community. This has led towards a rise in importance of interfaces, creating a crucial demand for options in transfers to other networks. As customers are orienting themselves online, and then grouping offline for running, their visits to stores have reduced drastically. This has compelled retailers to find solutions to reach the trail community, incurring challenges as well as costs to retailers. These factors might impact growth of the global trail sports accessories market.
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The market for wearables is growing significantly, with large number of products available for selection. However, owing to the presence of so many products, selection has become highly unclear, particularly considering tech giants such as Apple and Samsung pushing their products in the market. This further incurs huge challenges for the retailers. The trail community is a cool and laid-back community, with a great networking among them. This entails difficulty for manufacturers, as relatively fewer participants are witnessed in this sport, the weaknesses of new products get noticed easily and the news spreads quickly.
Transparency Market Research (TMR), in its new research, estimates the global trail sports accessories market to register a moderate CAGR over the forecast period 2017 to 2024. Revenues from global sales of trail sports accessories are expected to exceed US$ 2,000 Mn by 2024-end.
Economy Trail Sports Accessories to Hold Largest Market Revenue Share
Based on price range, economy trail sports accessories will continue to hold the largest share of the market in terms of revenues. Sales of economy trail sports accessories will reach nearly US$ 870 Mn in revenues by 2024-end. Sales of Mid-range, and premium trail sports accessories will exhibit a similar CAGR through 2024, mid-range segment poised to be more lucrative than premium.
Direct to customer institutional channel is estimated to remain the largest sales channel for trail sports accessories, accounting for approximately one-fourth revenue share of the market throughout the forecast period. Sales of trail sports accessories in direct to customer online channel is projected to register the fastest expansion through 2024.
Accounting for nearly half revenues share of the market, shoes are anticipated to be the most lucrative product in the global trail sports accessories market. Tent and backpack will continue to witness a parallel expansion at 3.2% CAGR through 2024.
In terms of revenues, Europe will remain dominant in the global trail sports accessories market followed by North America. However, sales of trail sports accessories in North America will register a comparatively higher CAGR than that in Europe through 2024.
Competition Tracking
Key players identified in TMR’s report include Amer Sports Corporation, Black Diamond, Inc., Newell Brands Inc., Columbia Sportswear Company, V.F. Corporation, Skechers USA, Inc., Deckers Outdoor Corporation, Wolverine World Wide, Inc., Adidas AG, and Big Agnes, Inc.
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