Global Luggage Market 2018-2022 | Introduction of Convertible and Foldable Luggage to Boost Growth | Technavio

Technavio has announced its latest market research report titled global luggage market 2018-2022 (Graphic: Business Wire)

LONDON--()--The global luggage market is expected to post a CAGR of more than 6% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

The travel and tourism industry is one of the fastest-growing and most diversified sectors, which results in good business, trade, employment, developing infrastructure, and stimulating the social development of different communities. Countries such as China, South Korea, the US, Brazil, Spain, the Netherlands, Germany, and the UK have strong outbound tourism. People in this demographic travel frequently and are always in search of stylish and multifunctional luggage to carry. Travel and tourism increases the need for varieties of luggage to cater the diversified requirements of customers. These factors will propel the global luggage market growth during the forecast period.

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As per Technavio, the introduction of convertible and foldable luggage, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

Global Luggage Market: Introduction of Convertible and Foldable Luggage

The introduction of convertible and foldable luggage will be one of the critical trends in the global luggage market. Convertible and foldable luggage are popular among consumers due to the increasing preference for multipurpose suitcases. They also prove to be a good option for consumers who prefer hard-side bag. Thus, the growing travel and tourism industry coupled with the introduction of convertible and foldable luggage will drive market growth during the forecast period.

“Apart from the introduction of convertible and foldable luggage, the increasing government funding to promote tourism industry and the rising participation of women and children in sports are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Luggage Market: Segmentation Analysis

This market research report segments the global luggage market by product (travel luggage, casual luggage, business luggage, and sports luggage) and geographical regions (APAC, Americas, and EMEA).

The APAC region led the market share in 2017, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the high population density and outbound tourism in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global luggage market is expected to post a CAGR of more than 6% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com