Hiking Equipment and Gear Market Growth Strategies Adopted Globally by Top Players | The North Face, Marmont, Mountain

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Hiking equipment

The United States was the dominant country in 2018, accounting for a considerable share of the global market.

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Sept. 15, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research, titled “Hiking Gear & Equipment Market by Product Type, Profile Customer and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026, “The Hiking Equipment and Gear Market size was valued at $20,652.6 million in 2018 and is projected to reach $28,789, $7 million by 2026, registering a CAGR of 4.2% from 2019 to 2026. The machinery and equipment segment was the largest contributor to the market, with $8,772.0 million in 2018, and is expected to reach $12,081.1 million by 2026, at a CAGR of 4.0% during the forecast period.

Hiking is an activity that involves long-distance walks, done primarily for fun or exercise. The equipment used in this activity includes bags, clothes, shoes, tools such as repair equipment, knives or emergency equipment such as first aid and a lighter. Hiking is one of the most favorite outdoor activities after cycling and jogging and is expected to become popular with the increasing adoption of outdoor sports around the world.

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The hiking equipment and gear market is mainly driven by the popularity of outdoor activities among people across the globe. The growth of the hiking equipment and gear market is largely influenced by the travel and leisure industry and the increase in these sectors directly affects the usage of such equipment. Additionally, increasing investment by professional hikers and video recorders in quality hardware and equipment is also driving the growth of the market. However, the potential risk to human life from the uncertain hiking conditions is the main obstacle for the market. On the contrary, the increase in the influence of social media and video recording should provide growth opportunities for hiking gear and equipment.

The hiking equipment and gear market is segmented on the basis of product type, consumer profile, distribution channel and region. The product type segment is further categorized into equipment and gear, apparel, footwear, and others. By customer profile, the market is categorized into men, women and children. By region, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.

According to the Hiking Gear & Gear Market Analysis by Product Type, the gear & gear segment was the largest category in 2018 and is expected to remain dominant during the forecast period. However, the apparel segment is expected to grow at a higher CAGR during the forecast period.

According to the hiking gear and gear market forecast based on customer profile, the men’s segment was the largest contributor to the global market in 2018 and is expected to remain dominant through 2019-2026. However, the female segment is expected to grow at a higher growth rate during the forecast period

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By region, North America was the largest market in 2018 and is expected to lead the hiking equipment and gear market through 2019-2026. Major industry players have embraced product launch as a key strategy to stay competitive in the market.

Main results of the study:

Hiking Equipment & Gear Market was valued at USD 20,652.6 Million in 2018 and is projected to reach USD 28,789.7 Million by 2026, growing at a CAGR of 4.2% during the forecast period .
On the basis of product type, equipment and fittings segment is expected to witness the fastest growth, registering a CAGR of 4.0% during the forecast period.
By customer profile, the male segment held the highest share in 2018, accounting for almost half of the global market share.
By distribution channel, the online segment was the largest market in 2018 and is expected to grow at a significant CAGR throughout the forecast period.
The United States was the dominant country in 2018, accounting for a considerable share of the global market.

Players in the hiking gear and gear industry have adopted product launch as the key development strategy to increase their profitability and improve their position in the hiking gear and gear market. Key players profiled in the report include The North Face, Marmont, Mountain, Black Diamond, Arc’teryx, Marmot, Mountain Hardwear, Kelty, MontBell, AMG Group, and Big Agnes.

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The research provides answers to the following key questions:

1️⃣ What is the estimated market growth rate for the forecast period 2019-2026?
2️⃣ How big will the market be during the estimated period?
3️⃣ What are the major driving forces responsible for shaping the fate of the Hiking Equipment & Gear market during the forecast period?
4️⃣ Who are the key vendors in the market and what are the winning strategies that have helped them to gain a strong foothold in the Hiking Gear and Equipment market?
5️⃣ What are the key market trends influencing the development of the Hiking Gear and Equipment market across different regions?
6️⃣ What are the major threats and challenges likely to impede the growth of the Hiking Equipment and Equipment market?
7️⃣ What are the key opportunities that market leaders can leverage to gain success and profitability?

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David Correa
Allied Analytics LLP
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