Horse riding has become a leisure activity for consumers. The sport has evolved from traditional horse riding, and is now supported by modified and modernized equipment. In horse riding, equipment is selected based on the safety of the rider and for protection against accidents. Horse riding equipment includes body protectors, riding helmets, and other riding equipment. All horse riding equipment such as riding helmets are required to be designed and approved according to European Safety Regulations; Regulation EN1384 issues safety insights.
People of all ages are indulging in horse riding as an activity with health benefits, and horse riding is increasingly being viewed as a sport. This in turn is expected to influence the market growth for horse riding equipment over the forecast period. Furthermore, rising investment of people in leisure sport activities is projected to spur the market growth for horse riding equipment in the coming years. Rising number of horse riding training institutes such as riding schools, riding yards, welfare charities and services, is leading to the growth of the horse riding equipment market. With a rising number of both men and women taking part in this activity, extra safety regulations related to the equipment used for this sport have been issued. Saddles, head gear, bits, breeches, reflective horse wear, horse rugs, and protection boots and wraps are horse riding equipment used in this sport. The trend of wearing riding jackets during horse riding especially among children and new riders is increasing to protect them from injury to the ribs and spine. Riding jackets are also approved by European regulations (Regulation EN13158). This is resulting in the market growth of horse riding equipment. However, safety concerns about injuries caused during this sport are to some extent restraining the growth of the horse riding equipment market.
The global horse riding equipment market can be segmented based on equipment type, product type, gender, distribution channel, and region. In terms of equipment type, the market can be classified into equine equipment and rider equipment. On the basis of product type, the market is classified as helmets, vests, stirrups, saddle, halters, bridles, and others such as hackamores, headgear, etc. The gender segment can be divided into men and women. The distribution channel segment can be segmented as online and offline. The offline segment can be further sub-segmented into specialty stores, sports goods shops, supermarkets, and hypermarkets. Based on region, the global horse riding equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the key players operating in the global horse riding equipment market include Colonial Saddlery, Dainese, Ariat International, Georg Kieffer Sattlerwarenfabrik GmbH, Decathlon, Cavallo GmbH, Antares Sellier, Fabtron Inc, Mountain Horse, and HKM Sports Equipment. Various technological advancements in terms of safety of horse riding equipment products are enabling major players in the industry to upgrade their product portfolio to meet the regulatory requirements. Furthermore, players in North America and Europe such as Dainese and Ariat International, which are widely popular brands, are working continuously to maintain their position and brand value in the market for horse riding equipment. Europe is projected to hold the major share in terms of revenue in the horse riding equipment market. Various strategic initiatives by associations such as The British Horse Industry Confederation is promoting this sport in the region which is further expected to fuel the market growth over the forecast period. Additionally, the market in Asia Pacific is expected to witness considerable growth rate, due to a rise in awareness about the health benefits of the sport in the region, ultimately promoting the horse riding equipment market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.