According to a new report, published by KBV research, The Global Hiking Gear & Equipment Market size is expected to reach $8.7 billion by 2030, rising at a market growth of 6.5% CAGR during the forecast period.
The Clothes segment is leading the Global Hiking Gear & Equipment Market by Product in 2022 thereby achieving a market value of $4.3 Billion by 2030. The demand for hiking clothes is driven by an increase in consumer hiking activity, which is becoming increasingly popular among the public. The need for hiking clothing is likely to increase due to the popularity of hiking, per the Outdoor Participation Report by the Outdoor Foundation. In addition, the growing popularity of women's clothing due to female hikers' increased engagement is boosting the segment's growth.
The Specialty stores segment is showcasing a CAGR of 6% during the forecast period. Wildcraft, Columbia Sportswear, Decathlon, REI, and Dick's Sporting Goods are just a few sports retail stores expanding their global footprint, which is predicted to improve product availability and boost the market's expansion. Numerous stores across North America, Europe, and several Asian nations sell footwear and other hiking-related apparel and equipment from mass-market brands, including Under Armour, Inc., Nike Inc., and Adidas AG.
The North America region dominated the Global Hiking Gear & Equipment Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4 billion by 2030. The Europe market is anticipated to grow at a CAGR of 6% during (2023 - 2030). Additionally, The Asia Pacific market would display a CAGR of 7.2% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/hiking-gear-equipment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Black Diamond Equipment, Ltd., Amer Sports, The North Face (VF Outdoor LLC), Mountain Hardwear (Columbia Sportswear Company), Marmot Mountain, LLC (Newell Brands, Inc.), Equinox Ltd., TATONKA GmbH, Mont-bell Co., Ltd., Big Agnes, Inc. and Exxel Outdoors, LLC
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