BEIJING, Sept. 24, 2023 (GLOBE NEWSWIRE) — The Equestrian Equipment Market is intrinsically linked to the world of horse riding, focusing on providing quality, innovation, and style to equestrian enthusiasts.
The Equestrian Equipment Market revolves around the production, distribution, and sale of equipment used for horse riding. This includes saddles, riding boots, helmets, and other gear essential for both the rider and the horse. With the growing popularity of equestrian sports and recreational riding, the market is experiencing substantial growth. As the sport continues to gain popularity and the awareness about animal welfare increases, the demand for high-quality equestrian equipment is set to rise. With continuous innovation, consumer-centric designs, and a focus on quality and safety, the future of the Equestrian Equipment Market promises growth, evolution, and broader adoption in the equestrian world.
Equestrian Equipment Market Stats and Highlights:
- The Global Equestrian Equipment Market is expected to expand at a compound annual growth rate (CAGR) of 3.9% from 2023 and 2032, reaching a valuation of USD 3,125.1 Million by the end of the forecast period.
- In 2022, the rider equipment sub-segment generated the most revenue of all product types, with over USD 1,537.80 million.
- As of 2022, independent sports stores captured approximately 40.0% of the sales channel market.
- The increasing interest in equestrian sports, coupled with the rising awareness about animal welfare, is driving the market’s expansion.
- The development of innovative and ergonomic designs is further enhancing the appeal of equestrian equipment.
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Equestrian Equipment Market Report Coverage:
|Market||Equestrian Equipment Market|
|Equestrian Equipment Market Size 2022||USD 2,135.9 Million|
|Equestrian Equipment Market Forecast 2032||USD 3,125.1 Million|
|Equestrian Equipment Market CAGR During 2023 – 2032||3.9%|
|Equestrian Equipment Market Analysis Period||2020 – 2032|
|Equestrian Equipment Market Base Year||2022|
|Equestrian Equipment Market Forecast Data||2023 – 2032|
|Segments Covered||By Product Type, By Buyer Type, By Sales Channel, By Sports Type, And By Geography|
|Equestrian Equipment Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Ariat International, Dublin Clothing, Equine Couture, Horseware Ireland, WeatherBeeta, Troxel Helmets, Kerrits Equestrian Apparel, Devoucoux, Charles Owen, Horse Health, Weaver Leather, and Hermès.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Market review and assessment:
The trajectory of the Equestrian Equipment Market is promising, driven by the rising popularity of horse riding as a sport and leisure activity. The market is also influenced by innovations in material and design, focusing on enhanced comfort, safety, and performance. However, challenges such as high costs of premium equipment and the maintenance of quality standards can pose growth hurdles.
Equestrian Equipment Market Trends and Innovations:
- Smart technology is being integrated into equestrian equipment to track and analyze performance. This data can be used to improve training and identify areas where riders can improve.
- Lightweight and durable materials are being developed to create more comfortable and long-lasting equipment. This will help to reduce injuries and keep riders and horses safe.
- Ergonomic designs are being researched to prevent injuries and ensure animal welfare. This includes features such as padded seats and stirrups that reduce pressure on the rider’s legs and feet.
- Customizable equipment is being introduced to cater to individual preferences and needs. This includes features such as adjustable saddles and stirrups that can be tailored to the rider’s height, weight, and riding style.
- Emphasis is being placed on aesthetic appeal and style, reflecting in the design and color options available. This will help riders to find equipment that they feel confident and comfortable in.
Major Drivers of the Equestrian Equipment Market:
The rising awareness and concern for animal welfare and safety. This has led to a greater demand for equestrian sports that are conducted in a humane and ethical manner.
Technological advancements leading to the development of innovative equipment. This has made equestrian sports more accessible and enjoyable for both riders and spectators.
Increasing disposable income allowing for expenditure on recreational activities. This has led to more people being able to afford to participate in equestrian sports.
The growing number of equestrian clubs and riding schools promoting the sport. This has made it easier for people to find opportunities to learn about and participate in equestrian sports.
Key Challenges Facing the Equestrian Equipment Market:
The equestrian industry faces many challenges. One of the biggest challenges is ensuring the durability and safety of equipment. Equipment must be able to withstand the rigors of riding and training, and it must also be safe for both the rider and the horse. Another challenge is the high cost of quality equipment. Good quality equipment can be expensive, which can make it difficult for some people to afford it. Competition from low-quality and counterfeit products is also a challenge. There are many low-quality and counterfeit products on the market, and these products can be dangerous for both riders and horses. Meeting the diverse and evolving preferences of equestrian enthusiasts is another challenge. Equestrian enthusiasts have a wide range of preferences, and it can be difficult to design and produce equipment that meets everyone’s needs. Finally, balancing innovation with tradition is also a challenge. The equestrian industry is a traditional one, and there is often resistance to change. However, it is important to innovate in order to improve the safety and quality of equipment.
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Equestrian Equipment Market Classification Insights:
Depending on product type
- Rider Equipments
- Equine Equipments
Depending on Buyer Type
- Individual type
- Institutional type
- Other types
Depending on Sales Channels
- Hypermarket & Supermarket
- Sports Retail Chain
- Independent Sports Outlet
Depending on Sports Type
Equestrian Equipment Market: A Regional Overview:
Europe, with their rich equestrian history and high participation in equestrian sports, leads the market. North America, with its growing interest in recreational riding and equestrian events, also presents significant demand for equestrian equipment. The Asia-Pacific region, with its increasing income and developing interest in diverse sports, is expected to witness substantial growth in the coming years.
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List of Top Players in the Global Equestrian Equipment Market:
Ariat International, Beval Saddlery Ltd., Cavallo GmbH, Dainese S.p.A., Decathlon, Georg Kieffer Sattlerwarenfabrik GmbH, GPA, Herm. Sprenger GmbH, Horseware Products Ltd., Kerrits Equestrian Apparel, Mountain Horse, Pikeur, Stubben and Antares Sellier.
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