The hiking gear & equipment 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 gear and equipment segment was the highest contributor to the market, with $8,772.0 million in 2018, and is estimated to reach $12,081.1 million by 2026, at a CAGR of 4.0% during the forecast period.
Hiking gear & equipment are a set of items that are used by people who go on the outdoor activity called hiking. Hiking is a trail sport primarily done by people for leisure, improve health or to unwind and break the monotony of daily life. Hiking is one of the most preferred activities in the U.S. after jogging, and cycling. The industry is entering into a maturity stage and has had a steady growth in the last few decades.
The growth of the hiking gear & equipment market can be attributed to rise in popularity of outdoor activities among people all around the world. Moreover, busy and hectic lifestyle coupled with increase in instances of people choosing outdoor activities such as adventure sports and outings to unwind or break the monotony of their daily life, which paves the way for the hiking gear & equipment market growth. Furthermore, increase in adventure travel and rise in the number of agencies organizing hiking tours drives the growth of the market worldwide. However, the potential risk and uncertain conditions in hiking majorly restraints the market. On the contrary, increase in influence of social media and video logging is expected to provide opportunities for growth for the global market.
The hiking gear & equipment market is segmented on the basis of product type, consumer profile, distribution channel, and region. . The product type segment is further classified into gear & equipment, apparel, footwear, and others. By customer profile, the hiking gear & equipment market is classified into men, women and kids. By distribution channel, the market is bifurcated into online and physical stores. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product Type
The Gear and Equipment segment was the largest segment, registering a CAGR of 4.0% during the forecast.
Based on the hiking gear & equipment market analysis by product type, the gear & equipment segment generated the highest revenue in 2018 and is expected to remain dominant throughout the forecast period. This can be attributed to them being quintessential for a proper hiking. Moreover, increase in the investment in quality gear and equipment by video loggers and professional hikers paves the way for growth of this segment in the hiking gear & equipment market.
By Customer Profile
The woMen segMent would witness the fastest growth, registering a CAGR of 4.6% during the forecast.
Based on the hiking gear & equipment market forecast by customer profile, the men segment was the most prominent segment accounting for maximum share in the global market. The growth in this segment of the hiking gear & equipment market can be attributed to higher participation of men in trail sports, which includes hiking. The women segment is expected to grow at a substantial rate owing to rise in participation of women in outdoor sports.
By Distribution Channel
The online segment would witness the fastest growth, registering a CAGR of 4.9% during the forecast.
Based on distribution channel, the physical stores segment was the highest contributor to the global hiking gear & equipment market in 2018 and is expected to continue the dominant position through the forecast period. The growth in this segment can be attributed to benefits such as trail before purchase and immediate gratification. However, the online segment is estimated to grow at a higher CAGR through the forecast period owing to high penetration of internet and rise in dependence on online and mobile shopping.
By Region
North America is the largest market growing at a CAGR of 4.1% from 2019-2026.
By region, North America was the most prominent regional market in 2018. This can be attributed to higher participation of people in the region in outdoor activities and sports. However, Asia-Pacific is expected to grow at a higher CAGR through the forecast period. The growth in this regional segment in the hiking gear & equipment market can be attributed to increase in adoption of outdoor sports and recreational activities in the region.
The players in the hiking gear & equipment industry have adopted product launch as their key development strategy to increase profitability, and to improve their stance in the hiking gear & equipment market share. The key players have also relied on business expansion to stay relevant in the market. The 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.
Key Benefits for Stakeholders:
- The report provides a quantitative analysis of the current hiking gear & equipment market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assists in determining the prevailing hiking gear & equipment market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
Hiking Gear & Equipment Market Report Highlights
| Aspects | Details |
 By Product Type |
|
 By CUSTOMER PROFILE |
|
 By Distribution Channel |
|
 By Region |
|
 Key Market Players | ARCTERYX, KELTY, MOUNTAIN HARDWEAR, BIG AGNES, MARMOT, BLACK DIAMOND, MARMONT MOUNTAIN, AMG GROUP, THE NORTH FACE, MONTBELL |
Analyst Review
Hiking is a trail sport primarily done by people for leisure. Hiking is one of the most preferred activity in the U.S. after jogging and cycling. Hiking gear & equipment are a set of items that are used by people to make hiking safer.
The hiking gear & equipment market provides a notable scope for growth from 2019 to 2026. The growth of this market can be attributed to rise in adoption of outdoor sport and leisure activities. Moreover, increase in adventure travel and rise in the number of agencies organizing hiking tours drives the growth of hiking gear & equipment worldwide. However, potential risk to life due to uncertain hazards such as snakebites, landslide and more among other act as the major restraint for the market.
Rise in influence of social media and video logging is expected to provide opportunities for growth for the hiking gear & equipment.
The hiking gear & equipment market size was valued at $20,652.6 million in 2018
The hiking gear & equipment market is projected to reach $28,789.7 million by 2026
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The hiking gear & equipment market for China is projected to reach $3,065.4 million by 2026. The market for India is expected to grow at a CAGR of 5.1% from 2019-2026.
The hiking gear & equipment market is segmented on the basis of product type, consumer profile, distribution channel and region.
Outdoor sports have been very popular in the North American and European region and is expected to grow in popularity in the Asia-Pacific region.
The key players profiled in the report includes The North Face, Marmont, Mountain, Black Diamond, Arc'teryx, Marmot, Mountain Hardwear, Kelty, MontBell, AMG Group and Big Agnes.
The gear and equipment segment was the highest contributor to the market, with $8,772.0 million in 2018
The market is likely to experience significant growth in the forecast period owing to growing penetration of sports equipment including hiking gear and equipment all around the world.
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