Global Hiking Gear and Equipment Market to Grow 2.53% by 2020

The rise in value-added and innovative adventure sports products is an important emerging trend, which is expected to have a positive impact on market growth between now and 2020. To cater to the varied needs of consumers, vendors today are introducing innovative product offerings in terms of design, color, shape, and weight.

The competition among key players is intense, and it becomes necessary for these manufacturers to constantly improve their product offerings in order to maintain their position in the market. For instance, manufacturers have started reinventing the insulation used in tents.

According to the report, one of the key drivers for market growth will be government initiatives to promote outdoor activities. In many countries, the government is introducing initiatives to promote various outdoor activities, which can boost the growth of the hiking gear and equipment market during the forecast period.

A diverse range of hiking equipment such as hiking apparel, hiking shoes, sleeping bags, tents, and backpacks are used for activities like camping, hiking, and climbing. The hiking equipment available in the market vary in size, insulation, design, material, temperature rating, and other parameters. Countries like the US and Australia are witnessing a rise in the number of hikers since past few years. In the US, the number of hikers has risen from 33.06 million hikers in 2011 to 38.67 million hikers in 2015.

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