Sport
Rock Sport Protection Products Market to Reach $2,070.1 Million, Globally, by 2031 at 8.1% CAGR: Allied Market Research
Increase in awareness of importance of physical activities among people for overall health & wellness and the growing popularity of indoor climbing & adventure sport among the younger generation are the factors expected to drive the growth of the global rock sport protection products market in the forecast period from 2022 to 2031. However, the high cost of raw materials and seasonal changes in outdoor activities may hamper the rock sport protection products market growth in the coming future. On the contrary, the growing focus of manufacturers on developing specialized products for niche rock sport activities and the availability of rock sport protection products on online stores are expected to offer remunerative opportunities for the expansion of the rock sport protection products market during the forecast period.
The increasing awareness of safety concerns in the rock sport community
Based on type, the climbing harness sub-segment held the highest market share in 2021 and is estimated to maintain its leadership status during the forecast period. This is mainly because climbing harnesses are able to withstand high loads, as they are made from high-strength materials, such as polyester, nylon, and dyneema. On the other hand, the climbing carabiners sub-segment of the rock sport protection products market is projected to manifest the highest CAGR of 8.7% from 2022 to 2031, due to reliability of these devices to provide safety during climbing, mountaineering, and other outdoor activities.
Based on accessories, the belay devices sub-segment accounted for dominant market size in 2021, as these devices ensures safety during outdoor activities and are an essential safety feature for climbers. This sub-segment is predicted to grow at a CAGR of 8.8% during the estimated timeframe owing to the continuous development of innovative and wide range of products by manufacturers that cater to different needs and preferences of customers. For example, some belay devices feature assisted braking systems (ABS), which provide additional control and safety to users during climbs.
Based on distribution channel, the offline sub-segment of the rock sport protection products market garnered the highest revenue share in 2021 and is expected to rise at a CAGR of 7.8% during the forecast period. The significant growth of the sub-segment is majorly owing to the growing preference of consumers to shop in-store, such as from specialty stores and retailers. This preference is mainly because customers have the benefit of scanning products of different brands and also get expert advice from sales staff for their requirement.
Based on buyer type, the institutional sub-segment accounted for the largest market share in 2021 as schools, recreation centers, universities, and other public facilities provide access to outdoor activities like rock climbing. This segment of the global rock sport protection products market is predicted to grow at a CAGR of 7.9% during the forecast period mainly because manufacturers are continuing to develop innovative products, particularly tailored to meet the rising needs of institutional buyers.
Based on region, North America held the highest market share in terms of revenue in 2021, owing to the rising popularity of rock climbing and outdoor activities among youngsters in the region. Besides, the technological developments in safety products and the increasing emphasis on safety in the rock sport industry, particularly due to increase in accidents are driving the growth of the North America market. On the other hand, the Asia-Pacific region of the global rock sport protection products market is expected to witness the fastest growth at a CAGR of 10.0% from 2022 to 2031, owing to the rising consumer spending on leisure activities, such as outdoor sports and adventure sports.
The report provides a detailed analysis of the key players of the global rock sport protection products market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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