Equestrian Equipment Market Projections & Future Scenario Analyzed until 2028 | Key Players are Ariat International, Dainese S.p.A, Cavallo GmbH, and HKM Sports Equipment GmbH.
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New technologies in the equine space are being introduced that enable accurate measurements and recording of horse health that can be used by trainers. Smart equestrian equipment for the sport dedicated toward horse performance and care have largely impacted the market. Enthusiasts and professionals alike are inclined toward use of advanced novelties in the equestrian equipment space that provide metrics which are used to improve training methods. For instance, advanced synchronicity system displayed at BETA (British Equestrian Trade Association) enables assessment using sensors in reins that can measure riders contact with reins at every instant. Likewise, and advanced connected equipment that measures and records horizontal and vertical jump height, breathing rate, calories burned, minimum and average speeds and overall horse health. The information can be streamed using mobile application, with a feature of continuous run-time monitoring and analysis. Advanced equestrian equipment can be used by coaches to provide accurate assessment and correct imbalances in both the rider and the horse. This aspect is likely to influence demand for technologically advanced equestrian equipment in the forthcoming years.
Participation of Over 16 Million Individuals to spur Equestrian Equipment Sales
Sales of equestrian equipment is largely influenced by increasing investment of individuals in recreational sporting activity. Fast paced lifestyle of individuals has triggered rising participation of people in several recreational activities and equestrian sporting is no exception. Equestrian sporting has gained significant traction since the past few years marked by increasing participation of people at the global front. For instance, according to the American Horse Council, more than 2 million people from United States alone are engaged in the sport on an annual basis and the number is likely to increase in the coming years. Equine Business Association estimates that more than 16 million individuals worldwide are expected to participate in the sport. This factor is expected to pave potential growth pathways for equestrian equipment manufacturers, in turn impacting the market in the coming years.
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Realizing the growing preference for equestrian sport, number of equestrian clubs across the globe are increasing at a high rate. According to FEI (Federation for Equestrian Sports), the equestrian clubs sector has witnessed an upswing with developing countries at the forefront, particularly China. FEI estimates that number of clubs in developing countries have reflected an increase of six to seven percent in 2017 and the rate is likely to continue in the following years. This aspect is expected to complement the growth of equestrian equipment market throughout the period of forecast.
Championships Creating Significant Avenues for Equestrian Equipment Manufacturers
Various regulatory bodies are focused on promoting equestrian sports by initiating championships across countries worldwide in a bid to enhance customer awareness. Federation for Equestrian Sports (FEI) organizes world championships every four years. Likewise, USEA (United States Eventing Association) conducts AEC (American Eventing Championships) for equestrian sport in the U.S. These sporting events and championships are paving potential avenues for equestrian equipment manufacturers who can promote their products across huge customer base under one roof. Moreover, equestrian equipment demand is also influenced with growing horse fairs. Chinese Equestrian Industry of China is planning to conduct CHF (China Horse Fair) in October 2018. These activities are expected to contribute to the overall growth of the equestrian equipment market during the assessment period.
Media Impact on Enthusiasts to Fuel Equestrian Equipment Demand
Broadcasting of horse races using networks such as live racing, horse racing radio network etc., are likely to enhance interests among young enthusiasts, in turn pushing their participation in equestrian sports. This aspect continues to boost the demand for equestrian equipment with enthusiasts inclined toward purchasing advanced equestrian equipment. Moreover, apart from broadcasting horse races, media has indirectly supported the growth of equestrian equipment market by creating platform for the sport using TV shows and films. This has influenced the participation of equestrian enthusiasts in clubs across the globe. In addition, films such as The Cup, Shannon’s Rainbow and Let It Ride are creating a significant impact on the youth worldwide. This has boosted participation of youngsters in the sport, consequently creating momentous demand for equestrian equipment.
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