NEW YORK, June 21, 2023 /PRNewswire/ --The global rock sport protection products market is predicted to see striking growth by 2031, owing to manufacturers' rising production of lightweight and durable products globally. The North America region is expected to be dominant during the forecast period.
Global Rock Sport Protection Products Market Forecast Analysis:
As per the report published by Research Dive, the global rock sport protection products market is projected to generate a revenue of $2,070.1 million and grow at a CAGR of 8.1% during the analysis timeframe from 2022 to 2031.
Segments of the Rock Sport Protection Products Market
The report has divided the rock sport protection products market into the following segments:
- Type: climbing harness, specialized clothing, climbing carabiners, and others
- Climbing Carabiners - Predicted to have the fastest growth by 2031
The increasing use of climbing carabiners to connect climbing ropes, harnesses, and other gear and provide a secure attachment point is predicted to foster the growth of the market sub-segment in the coming period. - Accessories: belay devices, nuts, hexes, helmets, camming devices, and others
- Belay Devices - Registered the highest market share in 2021
The rising use of belay devices by climbers to participate in rock climbing and other outdoor activities safely is expected to augment the growth of the market sub-segment throughout the analysis period. - Distribution Channel: online and offline
- Offline - Held the largest share of the market in 2021
The increasing preference of customers to shop for products of different brands from offline stores and get expert advice from sales staff who can suggest the best product according to their needs is expected to amplify the growth of the market sub-segment over the forecast period. - Buyer Type: individual and institutional
- Institutional - Held the maximum market share in 2021
There are many institutions such as schools, universities, recreation centers, and other public facilities that provide access to rock climbing and other outdoor activities, which is expected to propel the growth of the market sub-segment forward. - Region: North America, Europe, Asia Pacific, and LAMEA
- North America - Expected to hold the dominant market share by 2031
The increasing popularity of rock climbing and other outdoor activities particularly among the younger population across the region and the growing emphasis on safety in the rock sport industry owing to the increasing high-profile accidents and incidents is expected to boost the regional growth of the market further.
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Dynamics of the Global Rock Sport Protection Products Market
The growing focus on creating lightweight and durable products by manufacturers globally that provides maximum protection against major impacts and other hazards is expected to fortify the growth of the market throughout the estimated period. Moreover, the rising availability of rock sport protection products in online stores with fast and reliable shipping options and the growing preference of consumers to shop a wide range of products at their comfort are expected to create immense growth opportunities for the rock sport protection products market over the analysis period. However, the high-cost materials used in the production of rock sport protection products may impede the growth of the market throughout the forecast period.
Covid-19 Impact on the Rock Sport Protection Products Market
The rise of the Covid-19 pandemic has devastated the growth of the rock sport protection products market same as various other industries. This is mainly due to the disruptions in the supply chain and shortages of materials and components which have directly affected the production and availability of rock sport protection products during the pandemic period. Moreover, the shutdown of many manufacturing facilities and movement restrictions have delayed the shipping and transportation of finished products. All these factors have decreased the market's growth throughout the crisis.
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Key Players of the Global Rock Sport Protection Products Market
The major players of the market include
- Mad Rock Climbing
- Ober Alp SPA
- Great Trango Holdings Inc.
- Petzl Distribution
- Metolius Climbing
- Mammut Sports Group AG
- Anta Sports Products Limited
- Kailas Sports Products Co. Ltd.
- EDELRID GmbH & Co. KG.
- SINGING ROCK s.r.o.
These players are mainly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to gain a leading position in the global industry.
For instance, in April 2021, Eldridge, a leading American holding company announced its acquisition of G-Form, a leading provider of technology-driven protective solutions. With this acquisition, Eldridge aimed to expand their range of products, enter new sports and non-sports industries, scale international distribution, and increase production of its game-changing SmartFlex technology.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Rock Sport Protection Products Market:
- Rock Sport Protection Products: Unleashing the Inner Potential of Climbers with Unmatched Protection
- Global Rock Sport Protection Products Market to Experience Noteworthy Growth with Growing Demand for Equipment that Enhances Comfort and Mobility
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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