Horse-riding equipment Market Segmentation: By Product Type (Equine Equipment and Rider Equipment); By Distribution Channel (Supermarkets and Hypermarkets, Specialty ?t?r??, ?nl?n? R?t??l?r? and ?th?r?) and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Horse-riding equipment market to surpass USD 2.6 Billion by 2030 from USD 1.76 Billion in 2018 at a CAGR of 3.50% throughout the forecast period, i.e. 2019-30.
Equipment required for horse-riding is known as horse tacks which include saddles, headgear, stirrups, halter, bridles, harness, etc. These accessories are required to use horses as domesticated animals and develop communication with them. Riders use saddles as a seat placed on the horse’s back ensuring that the horse and rider both are comfortable. Stirrups are placed on both sides of the saddle to provide support to the rider’s feet. Reins help to develop communication between the horse and the rider as directional commands are guided using them. A leather or nylon strap with which a horse is attached to a carriage, cart, sled, or any other load is known as a horse harness. Other equipment includes safety helmets, riding gloves, boots, etc.
Global Horse-riding equipment market to surpass USD 2.6 Billion by 2030 from USD 1.76 Billion in 2018 at a CAGR of 3.50% throughout the forecast period, i.e. 2019-30. The global Horse-riding equipment market is expected to observe growth in the future owing to the rising trend of consumers engaging in recreational activities to maintain fitness and efficiently utilize free time in the fast pace moving lifestyle. Horse-riding is one of the most preferred recreational activities opted by consumers observed in the past trends and increasing investments in this activity are anticipated to foster the growth of the global horse-riding market throughout the forecast period.
The global Horse-riding equipment market is segmented by type into Equine Equipment and Rider Equipment. The rider equipment data logger segment held the largest market share of USD 1.76 Billion in the year 2018 and is expected to dominate the global market throughout the forecast period. Rider equipment includes all the safety accessories as well as riding breeches, jackets, or gilets used by the rider for horse riding. Whereas, the equine equipment segment includes saddles, headgear, stirrups, halter, bridles, harness, etc. required to communicate and ride the horse. Rising concerns for safety measures among the populace increase the demand for the rider equipment segment.
The global Horse-riding equipment market is segmented by application into Supermarkets and Hypermarkets, Specialty ?t?r??, ?nl?n? R?t??l?r?, and ?th?r?. The specialty stores segment held the largest market share of XX.X% in the year 2018 and is expected to maintain this trend throughout the forecast period. Specialty stores contain a wide assortment of products related to a distinguished category of goods as in the case of horse-riding equipment, specialty stores may include all the horse-riding-related accessories of different brands consisting of a wide range of variety.
The rise in the Adoption rate of Horse-riding activity
A horse-riding leisure activity for many along with some health benefits has seen a substantial rise in the rate of adoption by consumers following the influencers sharing horse-riding pictures/videos on their social media handles has triggered the growth of the horse-riding equipment market. Moreover, an increasing number of horse-riding institutes such as riding yards, riding schools, etc. is expected to boost the growth of the horse-riding equipment market.
Health benefits of Horse-riding
Horse riding is a full-body workout that strengthens the body and helps to maintain the body posture and increases the balance of the body, it also, develops core strength. In addition to this, horse riding also helps to increase the mental strength of the body as it helps to improve coordination, develop communication skills, develop problem-solving skills, and exercises the mind which encourages fitness enthusiasts to do horse-riding thereby, leading to a rise in the horse-riding equipment market.
High Costs and Risk factors
Higher costs are associated with horse-riding activity along with risk factors that may occur while performing horse-riding such as chances for physical injuries while performing the activity which demotivates the consumer to opt for horse-riding as a sport or leisure activity which in turn may act as a restraint for the global horse-riding equipment market.
The global Horse-riding equipment market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
The global Horse-riding equipment market in Europe held the largest market share of XX.X% in the year 2018. With the experience of years in breeding, training, and competing, the UK has dominated this sport, with the presence of large numbers of clubs and fitness enthusiasts in the region the demand for horse-riding equipment will rise and will continue to maintain its dominance throughout the forecast period. North America has also observed a rise in participation of enthusiasts in the sport and a rise in the number of clubs leading to a rise in the demand followed by APAC and EMEA.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Horse-riding equipment Market Segments:
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