Rock Sport Protection Products Market worth US$ 115 Million by 2022
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The market for rock sport protection products market is exhibiting a steady growth. The main reasons for this are the increasing popularity of adventure sports and tourism amongst the consumers and the growing sporting culture amongst the general population. Due to a change in the urban lifestyle, there is an immense popularity of leisure vacations and adventure tourism. There are a growing number of health conscious tourists and sports enthusiasts that are opting for vacation packages that include outdoor physical activities and include adventure sports like rock climbing and hiking. The promotion of such sports and tourism activities gives a fillip to the rock sport protection products market. Needless to say, there is a huge need for protection gears or products as these sports are becoming popular. Such kind of adventure sports like rock climbing need protection equipment in order to protect the sportspersons from accidents. Also, sports protective equipment is made compulsory by some sports authorities and is most of the times used as a preventive measure offering protection against sudden external impacts or falls. In addition, the spread of e-commerce has given a major boost to the availability and reach of rock sport protection products in the market. However, the availability of inferior quality products and forged products play a major role in the hindering the growth of this market.
Rock sport protection products are used in adventure sports like rock climbing and hiking in order to protect the sportspersons from accidents. Such kind of rock sport protection products offer protection against sudden external impacts or falls. These types of protection products are made compulsory by various sport bodies keeping in mind the safety aspects of the adventure sports and for preventing injury or harm to the sportspersons.
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4 Forecast Highlights on Global Rock Sport Protection Products Market
1. As per the forecast of Fact.MR, the climbing shoes product type segment is slated to touch a value of nearly US$ 35 Mn in the year 2022. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The climbing shoes product type segment is estimated to account for nearly one-third of the revenue share of the product type segment by the year 2017 end and is expected to hold the same market share by the year 2022 end.
2. As per the forecast of Fact.MR, the franchised sports outlet segment will reach a value of nearly US$ 18 Mn in the year 2017. This represents a moderate CAGR growth during the forecast period. The franchised sports outlet segment is estimated to account for nearly one-fifth of the revenue share of the sales channel segment in the year 2017 end and is expected to gain market share by the end of the year 2022.
3. As per the forecast of Fact.MR, the individual buyer type segment is slated to reach a value of nearly US$ 83 Mn in 2022. The individual buyer type segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the APEJ region in the individual buyer type segment.
4. Fact.MR forecasts the China rock sport protection products market to grow from nearly US$ 11 Mn in 2017 to nearly US$ 13 Mn in 2022. This represents a compound annual growth rate (CAGR) of 3.2% from 2017 to 2022.
APEJ Market Set to Dominate the Global Rock Sport Protection Products Market in Terms of Revenue
The market in APEJ is set to dominate the global rock sport protection products market in terms of value and this trend is projected to sustain itself throughout the assessment period. APEJ rock sport protection products market is the most attractive market, growing at a sluggish CAGR over the assessment period.
Helmet Product Type Segment Poised to Touch a Value of Nearly US$ 33 Mn in 2022
As per the forecast of Fact.MR, the helmet product type segment is expected to reach a value of nearly US$ 33 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Helmet product type segment is expected to account for nearly one-third of the revenue share of the product type segment by the year 2017 and is expected to gain market share by the end of the year 2022.
Independent Sports Outlet Segment to exhibit a CAGR of 2.3% During the Assessment Period
As per the forecast of Fact.MR, the independent sports outlet segment is slated to touch a figure of nearly US$ 42 Mn in the year 2022. This represents a CAGR of 2.3% during the assessment period from 2017 till the year 2022. This segment is expected to lose market share by the end of the year 2022. The independent sports outlet segment is expected to account for more than one-third of the revenue share of the sales channel segment by the year 2017.
The report also profiles companies that are expected to remain active in the expansion of global rock sport protection products market through 2022, which include Bauerfeind AG, McDavid Inc, Mueller Sports Medicine, Inc., Under Armour, Inc., NIKE, Inc., Shock Doctor Inc., Decathlon S.A., Amer Sports Corporation, Dick's Sporting Goods, Inc. and Vista Outdoor Inc.
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