Climbing gears Market Expected to Reach $2.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Climbing gears Market," The climbing gears market size was valued at $1.3 billion in 2021, and is estimated to reach $2.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.

The market for climbing gear market is mostly driven by the invention of new accessories in the climbing and hiking industry. An altimeter watch is a helpful navigational tool in low visibility. Altimeters use barometric pressure to calculate your height and location on the mountain. Readings can be made more precise by periodically entering a specified altitude. Even when there is no mobile coverage, it utilizes the mapping apps on phone to use GPS navigation. Thus, the development of new accessories is a major Climbing Gears Market Trends that is creating opportunities for the business to expand. The market's overall expansion is primarily the result of these recent changes.

The climbing gear market shows high growth potential in LAMEA region. The LAMEA climbing gear market is expanding due to rising consumer buying power and economic growth in nations like Brazil, Argentina, and others. Moreover, rise in the awareness about health and fitness and the growing affinity of the young population for adventure sports such as hiking is driving the Climbing Gears Market Demand in the region.

However, the high cost of climbing gear is a major restraint on the demand for climbing gear. climbing gear can be relatively expensive, especially for high-quality equipment that meets established safety standards. In addition, a lack of awareness about the importance of using proper gear can restrain the Climbing Gears Market Growth.  

According to the Climbing Gears Market Analysis, the market is segmented on the basis of type, end-use, distribution channel, and region. By type, the market is classified into a climbing harness, specialized clothing, climbing carabiners, and others. By end use, the market is classified into men, women, and kids. Based on the distribution channel, the market is bifurcated into online and offline. Region-wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and Rest of LAMEA).       

By type, the climbing gear market is classified into climbing harnesses, specialized clothing, climbing carabiners, and others. The climbing harness segment accounted for a major Climbing Gears Market Share in 2021 and is expected to grow at a significant CAGR during the forecast period. A climbing harness is a piece of gear worn by climbers to secure themselves to a rope or anchor. The climbing harness market refers to the industry producing and selling these products for recreational and professional climbing. The growing popularity of outdoor climbing has also created a demand for portable, lightweight, and packable harnesses, as climbers look to carry their gear with ease and convenience.

By end use, the climbing gear market is classified into men, women, and others. The men segment accounted for a major share of the climbing gear market in 2021 and is expected to grow at a significant CAGR during the forecast period. The consistent increase in men's outdoor sports participation is expected to support the growth of the climbing gear market during the forecast period.

By distribution channel, the climbing gear market is classified into online and offline. The offline segment accounted for a major share of the climbing gear market in 2021 and is expected to grow at a significant CAGR during the forecast period. The offline segment encompasses all the physical retail stores through which sports equipment and apparel are made available to the buyers. Furthermore, these retail formats offer a wide range of products at a competitive price to customers and are usually located in easily accessible areas, which adds to the overall attractiveness of this segment.   

By region, the climbing gear market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The North America climbing gear market is accounted for a major share in 2021 and is expected to grow at a significant CAGR during the forecast period. North America is one of the major sports equipment and apparel markets in the world. Increase in rate of participation in outdoor sports or adventure activities majorly drives the growth of the climbing gears market in this region. In addition, individuals are now participating in fitness activities such as running, jogging, and others to stay healthy and fit; thereby, boosting the growth of the market.

The major players operating in the Climbing Gears industry focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the climbing gear market include CAMP SpA, Ober Alp SPA, Metolius Climbing, EDELRID GmbH & Co. KG, Grivel S.r.l., SINGING ROCK s.r.o., Great Trango Holdings, Inc., Mammut Sports Group AG, Petzl Distribution, Kailas Sports Product Co., Ltd., Mad Rock Climbing, ANTA Sports Products Limited, and DMM International Ltd.

KEY FINDINGS OF THE STUDY     

• By Type, the climbing harness segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
• By Application, the men segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
• By Distribution Channel, the offline segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
• By Region, the North America region was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.