New York, USA, June 07, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global rock sport protection products market. According to the report, the global market is projected to surpass $2,070.1 million and grow at a CAGR of 8.1% in the estimated period, 2022–2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the rock sport protection products market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Rock Sport Protection Products Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global rock sport protection products market. The pandemic had resulted in a scarcity of raw materials such as foam and polymers, which are used in the manufacture of rock sport protection products. This resulted in higher expenses and manufacturing delays. Moreover, due to travel restrictions and limited capacity, the pandemic has led to delays in shipping and transportation. This had an influence on the delivery of components, raw materials, and finished goods. These factors significantly hindered the market growth amidst the pandemic.
Factors Impacting the Rock Sport Protection Products Market Growth
The key factor boosting the growth of the global rock sport protection products market is a significant rise in the need for rock sport protection products due to increased awareness of the importance of outdoor adventure activities and physical activity for overall health and wellness. Furthermore, the accessibility of rock sport safety protection products from online retailers is estimated to unlock lucrative opportunities for market growth in the forecast period. However, high initial expenses for rock sport protection products and safety concerns are anticipated to deter the rock sport protection products market’s growth.
The report segments the global rock sport protection products market into type, accessories, distribution channel, buyer type, and region.
Climbing Harness Sub-Segment to Grab a Foremost Share of the Market
The climbing harness sub-segment of the type segment is foreseen to observe leading growth in the forecast period. This growth is mainly owed to the rise in popularity of harness-required outdoor activities like rock climbing.
Belay Devices Sub-Segment to Witness Rapid Growth
The belay devices sub-segment of the accessories segment is predicted to grow enormously in the forecast period. This growth is mainly because belay devices are a vital component of climbers' safety equipment and are crucial for ensuring that climbers can participate in outdoor activities like rock climbing securely.
Offline Sub-Segment to Grab a Leading Share of the Market
The offline sub-segment of the distribution channel segment is expected to observe leading growth in the forecast period. This growth is mainly due to consumers' preference for offline retailers, whose sales are growing because of customers' ability to browse a variety of brands' products.
Institutional Sub-Segment to Observer Rapid Growth
The institutional sub-segment of the buyer type segment is projected to grow enormously in the forecast period. This growth is mainly because institutions include businesses like universities, schools, recreation centers, and other open spaces where people may access outdoor activities like rock climbing.
North America Rock Sport Protection Products Market to Perceive Maximum Growth
The report analyzes the global Rock Sport Protection Products market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth during the estimated period. This growth is mostly due to the development of new materials and technologies and the rising demand for rock sport protection products as more people look for high-quality equipment in this region.
Key Players of the Global Rock Sport Protection Products Market
The report states some of the foremost players operating in the market including
- Kailas Sports Products Co. Ltd.
- EDELRID GmbH & Co. KG.
- SINGING ROCK s.r.o.
- Mammut Sports Group AG
- Ober Alp SPA
- Petzl Distribution
- Mad Rock Climbing
- Metolius Climbing
- Anta Sports Products Limited
- Great Trango Holdings Inc.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in October 2022, ATHOS, a business based in Barcelona, in collaboration with Sculpteo and HP, launched the first custom-made, 3D-printed climbing shoes in the world with an emphasis on user comfort and performance.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
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