A15998 | Pages: 252 | Apr 2022 | 384 Views | | |
Author(s) : Raju Kale , Roshan Deshmukh | Tables: 166 | Charts: 56 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Horse Riding Equipment Market
Request Now !The global Horse Riding Equipment Market Size was valued at $2.0 billion in 2020, and is projected to reach $2.8 billion by 2030, growing at a CAGR of 3.4% from 2021 to 2030.
The COVID-19 has mandatorily shut down all the factories and manufacturing units, thereby hampering the overall production and sales. Moreover, the horse riding equipment market was experiencing a steady rise in the past years; however, due to halt on all sports and sporting related activities, the growth of the whole sports equipment and apparel market has come to a halt.
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The market is experiencing a moderate growth, and will grow considerably in the next few years. Rise in expenditure on sports training and development among children, owing to increase in consciousness about the benefits of engaging in sports activity such as increased concentration and problem-solving ability, has fueled the demand for horse riding equipment. Moreover, changing paradigm of educational system supports the growth of the sport industry and industries related to it. In addition, rise in sports education and sports training in academics has significantly increased the awareness toward sports and fitness. Thus, many of the school/educational institutes are providing training to the students, providing them with the opportunity to compete in various sports competitions. Furthermore, upsurge in state, national, and international level competitions conducted by various governments across the world is leading to increased participation and developing interest of the youth in sports activities. This in turn has resulted in increased demand for horse riding, which significantly contributes to the overall growth of the market.
Moreover, availability of counterfeit products is a key factor that restrains the Horse Riding Equipment Market Growth. These products do not comply with the guidelines outlined by the regulatory bodies across the globe. Online retailers have shown increased popularity as they facilitate faster delivery and easy return policies. Moreover, increase in number of sites offering free shipping of products has boosted the product sales though online platforms. Online retail provides access to a wide variety of products and price comparison of different brands. As per a recent study, Europe witnessed 18–19% growth in e-commerce retail sales, with the UK, Germany, and France leading the e-commerce transactions. This trend is expected to drive the online retail sales of the market.
The market is segmented on the basis of type, gender, sales channel, and region. On the basis of type, the market is categorized into helmets, vests, stirrup, and others. By gender, it is segregated into male and female. By sales channel, the market is segmented into hypermarket/ supermarket, independent sports outlet, sports retail chain and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, Spain, Italy, France, Germany, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Nigeria, Saudi Arabia, South Africa, and Rest of LAMEA.
Based on sales channel, the sports retail chain segment was the highest contributor to the market, and is estimated to reach $934.9 million by 2030, at a CAGR of 3.0% during the forecast period. A sports retail chain is one that concentrates on certain product categories, as opposed to merchants who sell a wide range of consumer products. The most important advantage of these retail stores is specialization. Stores that exclusively focus on one product category attract customers who have a keen interest in that sector. This provides a fantastic chance for brands to reach a highly focused demographic without being lost in the shuffle of a typical department store.
By region, Europe had the highest horse riding equipment market share in 2020. The region is projected to witness maximum demand for horse riding equipment during the forecast period. The availability of major players in this region influences the market such as Decathlon S.A., Georg Kieffer Sattlerwarenfabrik GmbH, and Mountain Horse. These players are promoting horse riding activity in the region, which is further expected to fuel the market growth over the forecast period.
The players in the horse riding equipment market have adopted acquisition as their key development strategy to increase profitability and improve their position in the market.
The key players profiled in the Horse Riding Equipment Industry include Antarès Sellier, Ariat International, Inc, Cavallo GmbH & Co. KG, Colonial Saddlery, Dainese, Decathlon S.A, Fabtron Inc, Georg Kieffer Sattlerwarenfabrik GmbH, HKM Sports Equipment GmbH, and Mountain Horse.
Key Market Segments
Key Market Players
Note: Details on financial performance and strategic moves and developments may not be captured for unlisted companies.
The horse riding equipment market has witnessed steady growth even under several unrests such as global uncertainty, weakened global economy, and others. According to the insights of the CXOs, the helmets segment is anticipated to witness significant growth, owing to increase in health awareness and rise in sports awareness. In addition, increase in sponsored sports events by government and private organizations to augment the participation of young population from the developing regions fosters the market growth. Moreover, rise in equipment donation by various organizations is anticipated to propel the market growth. Sport retail chain segment has enabled consumers to procure exclusive sports equipment and apparel with opportunity to try and experience the products.
A. rising number of horse riding institutes such as riding yards, welfare charities & services, & riding schools and Increasing number of both men and women taking part in this activity requires extra safety regulations related to the equipment are the upcoming trends of Horse Riding Equipment Market in the world.
A. Helmets is the leading type of Horse Riding Equipment Market.
A. Europe is the largest regional market for Horse Riding Equipment.
A. The global horse riding equipment market was valued at $1,975.0 million in 2020, and is projected to reach $2,750.0 million by 2030, registering a CAGR of 3.4% from 2021 to 2030.
A. The key players profiled in this report include Antarès Sellier, Ariat International, Inc, Cavallo GmbH & Co. KG, Colonial Saddlery, Dainese, Decathlon S.A, Fabtron Inc, Georg Kieffer Sattlerwarenfabrik GmbH, HKM Sports Equipment GmbH, and Mountain Horse.
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