LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global hiking gear and equipment market report. This research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
There is a significant shift of the target group toward younger demographics and this young crowd (Generation Z) prefers hiking equipment which provides comfort away from home, as compared to millennials who majorly prefer light and compact equipment.
There is an increase in the number of innovative products launched in the market for hikers. For example, headlamps which automatically adjust their brightness according to whichever direction the hiker is looking at is a hiker-friendly equipment launched in the market, which will help the market grow during the forecast period. Many government initiatives have increased participation in hiking over a period of time. The Parks for People Caravan and Camping initiative in Western Australia is one such initiative helping in promoting the sport.
Competitive vendor landscape
The hiking gear and equipment market is dominated by leading players from North America and Europe. The players compete on the basis of the quality of raw materials, price, weather resistance, weight, durability, adaptability, and innovation in design. The competition is further expected to become intense in the future, owing to an expansion of product portfolio. The growing demand for eco-friendly and technologically advanced hiking equipment is expected to boost the sales of the market during the forecast period.
“Online retail, as a distribution channel, is gaining popularity among manufacturers and consumers alike. It is becoming increasingly challenging for manufacturers to ensure that they sell their equipment through multiple channels, to retain their existing customer base and attract new customers,” says Mantri Charan Kumar, a lead outdoor gear analyst from Technavio.
With the advances in technology, consumers today are more engaged in the purchase process, especially through the online mode. Besides word-of-mouth marketing, consumers gather information through the internet, and it has become essential for the key players to focus on marketing and branding their products in a way that keeps consumers interested. Intense competition and frequent changes in consumer preferences constitute significant risks for the competitors, which might curtail the growth of the market during the forecast period.
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Top five hiking gear and equipment market vendors
Arc'teryx engages in the designing and production of outdoor apparel and gear equipment. It offers pants, shorts, jackets, sweaters, gloves, hiking gear, backpacks for men and women, and other related accessories. It markets its products through a network of retail outlets and via online platform worldwide. It operates as a subsidiary of Amer Sports.
Black Diamond engages in the developing, manufacturing, and distributing of technical outdoor equipment and lifestyle products for rock and ice climbers, freeride skiers, hikers, alpinists, and outdoor enthusiasts and travelers. The company sells its products through specialty and online retailers in more than 50 countries. In FY2015, the company reported revenue of USD 155.27 million. The company sells hiking products through Black Diamond Equipment.
Marmot produces and distributes outerwear, clothing, and other outdoor activities' equipment. It also provides coats and parkas, outerwear pants, jackets and vests, sportswear pants, and accessories. It offers backpacks, sleeping bags, tents, and luggage. Its products are used for camping, adventure travel, trail running, hiking, alpine climbing, and backpacking, and outdoor lifestyle activities. It sells its products through its stores across the US. It has sales offices across Hong Kong, Canada, the UK, Sweden, and Germany. It operates as a subsidiary of Jarden. In December 2015, Newell Rubbermaid announced the acquisition of Jarden.
Mountain Hardwear offers jackets, tops, bottoms, base layer jackets, and dresses and skirts for outdoor activities. It offers products for hiking, alpine climbing, rock climbing, and camping activities. It also offers gloves, gaiters and boots, and hats and belts. In FY2015, the company reported revenue of USD 119.8 million. It operates as a subsidiary of Columbia Sportswear Company.
The North Face
The North Face offers apparel, footwear, equipment, and accessories for men and women. It offers jackets and vests that include rainwear, fleeces, lifestyle products, and wind wear. It also provides bottoms, and accessories like hats and scarves, gloves, and socks. It also provides shoes, such as winter boots and sandals; and equipment, including backpacks, technical packs, tents, luggage and duffels, and sleeping bags. The company sells its products online, and through retail stores. It operates as a subsidiary of VF Corporation.
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