Global Hiking Gear and Equipment Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast 2018 to 2029

“Global Hiking Gear and Equipment Market” is the title of an upcoming report offered by MarketResearch.Biz. The research study involved the extensive usage of expert opinions, using both primary and secondary data sources and efforts. Also, market risks, opportunities, growth market barriers and challenges, and future scenarios have been covered in the report. The research process involved the study of various factors positively or negatively impacting the industry and market. Factors considered include government policies and mandates, the market environment, competitive landscapes, historical data, current and historical trends in the market, technological innovations, new solutions and modifications made to existing provisions, upcoming technologies and the technical progress of related industries. The global hiking gear and equipment market has been segmented on the basis of product, distribution channels, as well as regions and countries.

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Overview:

Hiking gear is the equipment taken on outdoor walking trips. Hiking is usually divided into day-hikes and multiple-day hikes, referred to as a trekking, backpacking or walking tours. The type of equipment would vary based on factors such as the duration, planned activities,distance, and natural environment of the trek.

Dynamics:

The increasing rise in participation of younger populations, especially millenials, is subsequently leading to a greater demand for hiking gear and equipment, and thereby a surge in market revenue growth. Another factor that is leading to further market growth is the increasing popularity of the outdoor recreation industry.

The rising trend of adventure tourism is paving the way for more trails to be constructed or established, and this in turn, will promote positive market growth in the coming years. Other factors that are contributing to the revenue growth of the global hiking gear and equipment market are rapid urbanization and surging disposables incomes of the general populous

Various initiatives by tourism and other governing bodies to promote the outdoors and healthy living are also collectively adding to future economic growth of the global hiking gear and equipment market.

Segmentation of the global hiking gear and equipment market is as follows:

In terms of product, the clothing segment accounted for the majority revenue share owing to changing lifestyles. There has been a steady increase in the number of women participating in outdoor activities, as such, a projected increase in the demand for hiking clothes is expected. The prominence of athleisure wear is also positively contributing to the revenue growth of the global hiking gear and equipment market.

The equipment segment is also expected to register steady revenue growth over the next 10 years. Equipment may include everything from tents to sleeping bags, hiking poles to other accessories.

With respect to distribution channel market segmentation, the specialty stores segment accounted for the majority revenue share of the global hiking gear and equipment market. This can be accredited to the vast presence of a number of market players competing in their respective regions.

The online distribution channels segment is projected to register a steady increase in generated revenues. This can be accredited to effective digital marketing strategies that are promoted as a result of the increasing penetration of the internet in both developed as well as emerging economies.

Regional Segmentation and Analysis:

The market in North America accounted for the majority revenue share of the global hiking gear and equipment market in 2019. This is due to factors such as the general promotion of healthier living, the construction of new hiking trails, as well as the effective promotion of outdoor activities by respective authorities in the region.

The APAC is projected to register an exponential increase in revenue growth of the hiking gear and equipment market as a direct result of the booming fitness industry in the region.

Segmentation of Global Hiking Gear & Equipment Market:

Segmentation by Product:

• Clothes
• Footwear
• Backpack
• Equipment
• Others

Segmentation by Distribution Channel:

• Specialty stores
• Retail stores
• Online

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa