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Rockville, MD, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Due to increasing health awareness amongst the consumers and due to the changes in the urban lifestyle, adventure sports and tourism are gaining prominence all across the world. In order to cater to the needs of such growing consumers who opt for adventure sports like rock climbing and hiking, the market for rock sport protection products is witnessing a steady growth. Such type of rock sport protection products are used to protect the sportspersons from accidents as there is an element of risk involved in such kind of sporting activities, and these protection products offer protection against sudden external impacts or falls. Such type of protection devices have been made compulsory by some sporting authorities and thus boosting the market for such type of protective equipment. However, the sale of inferior or counterfeit products are playing spoilsport in this market and are restricting the growth of rock sport protection products market.
The global rock sport protection products market is slated to touch a value of nearly US$ 115 Mn in the year 2022 and grow at a sluggish CAGR during the assessment period.
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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.
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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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