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The harness saddlery equipment market size is estimated to grow at a CAGR of 5.2% between 2023 and 2028. The market size is forecast to increase by USD 493.53 million. The growth of the market depends on several factors growing awareness and popularity of equestrian events, rising interest in outdoor sports, and focus on safety and comfort in equestrian activities. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by product (saddle equipment and harness equipment), end-user (amateur and professional), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Harness Saddlery Equipment Market Forecast 2023-2027
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Horse-riding events are extremely popular among consumers, particularly among affluent consumers who opt for horse-riding and related events as a major leisure time activity as they have a status symbol associated with them. There are a large number of horse-rising and other equestrian events held around the world, which are aimed at displaying the rider's horsemanship skills and, therefore, attract thousands of spectators as well as participants every year.
However, all these events are expected to witness a huge number of spectators and attract equestrian enthusiasts and professionals to buy harness saddlery equipment, which, in turn, will drive the growth of the global harness saddlery equipment market during the forecast period.
Riders, owners, and trainers are increasingly seeking harness saddlery equipment that is tailored to their specific needs, providing a unique and individualized experience. This trend toward customization has witnessed significant growth due to several factors and has transformed the way harness saddlery equipment is designed, produced, and used. Advancements in technology have also facilitated the rise of customization in harness saddlery equipment. Innovative tools, such as 3D scanning and imaging, enable accurate measurements of both the rider and the horse.
Moreover, riders can select various options, including saddle flaps, seat sizes, tree widths, and panel configurations, to create a saddle that caters to their preferences and the horse's needs. This level of customization allows riders to achieve a better experience for the rider and enhanced performance for the horse. Thus, the above-mentioned factors are expected to increase the adoption of harness saddlery equipment, which will drive the growth of the global harness saddlery equipment market during the forecast period.
Though adventure sports, including equestrian, provide a great thrill, boost adrenalin, and help conquer fear, they can also result in grave injuries and accidents for participants. The high degree of injuries and fatal accidents associated with such activities has become one of the pertinent factors in restricting the growth of the global equestrian tourism market, which, in turn, will hamper demand for harness saddlery equipment.
Furthermore, many insurance companies offer limited coverage for injuries incurred during outdoor sports activities. Thus, such factors are expected to negatively impact the growth of the global harness saddlery equipment during the forecast period.
The saddle equipment segment is estimated to witness significant growth during the forecast period. Saddles are designed to provide comfort, stability, and support for both the rider and the horse during various equestrian activities. The saddle equipment segment provides a wide range of products such as saddles, stirrups, girth, breastplates, saddle pads, and others to cater to diverse riding disciplines and rider preferences.
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The saddle equipment segment was the largest segment and was valued at USD 993.13 million in 2018. For riders engaging in long-distance riding or endurance competitions, endurance saddles are designed with features that prioritize the comfort of both the rider and the horse. These saddles typically have a wide, padded seat and extra padding in crucial areas to reduce pressure points and impact during long rides. The design of Western saddles is focused on supporting the rider during maneuvers while distributing the rider's weight evenly over the horse's back. Thus, the above-mentioned advantages are expected to increase the demand for saddle equipment, which will propel the growth of the saddle equipment segment of the global harness saddlery equipment market during the forecast period.
Based on end-user, the market has been segmented into amateur and professional. The amateur segment will account for the largest share of this segment.? The amateur segment of the global harness saddlery equipment market is a significant and rapidly growing category that caters specifically to amateur riders who are passionate about horseback riding. Furthermore, amateur riders often take pride in caring for their horses and thus require access to high-quality grooming tools, such as brushes, combs, hoof picks, and grooming sprays. These grooming products help maintain the horse coat, mane, and tail in optimal condition, promoting good hygiene, health, and overall well-being. Thus, the above-mentioned advantages are expected to increase the adoption of amateur harness and saddle equipment, which will propel the growth of the amateur segment of the global harness saddlery equipment market during the forecast period.
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North America is estimated to contribute 37% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America is a popular destination for a large number of physically exerting sports activities liked by both inbound and outbound tourists. An increase in awareness of the benefits of a physically active lifestyle and the thriving industry of adventure tourism is expected to drive market growth during the forecast period. The increased number of working and independent women, the growing number of start-ups, and the rise in the number of dual-income households are some of the other major factors that drive the growth of the equestrian tourism industry in the region.
In addition, the region-specific governing body is the American Equestrian Trade Association (AETA), which unites and advances the equine trade business community by delivering education, trade shows, and services to sustain, support, and help grow a strong equestrian industry. For instance, the AETA governs 370 organizations that are involved in the manufacturing, distribution, and retailing of products for both horses and riders. Such factors will drive the growth of the harness saddlery equipment market in the region during the forecast period.
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. However, in 2021, the demand for these products rebounded with the resumption of leisure activities and the reopening of retail stores due to the initiation of large-scale COVID-19 vaccination drives in the region. Such factors will drive the growth of the regional harness saddlery equipment market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alamo Saddlery - The company offers harness saddlery equipment such as tack and saddles.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Alamo Saddlery, Albert Kerbl GmbH, Antares, Billy Cook AMT LLC, Bobs Custom Saddles, Cactus Saddle, Cashel Co., Circle Y Saddles Inc., County Saddlery, Double J Saddlery, Fabtron, Greg Grant Saddlery, Hammersmith Nominees Pty Ltd., HR Saddles and Tack, Louisa Maria Cuomo Saddles, Martin Saddlery, National Bridle Shop Inc., Tex Tan Western Leather Co., Tory, Tucker Saddlery, and Weaver Leather LLC
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The harness saddlery equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Harness Saddlery Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
Market growth 2024-2028 |
USD 493.53 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, Australia, UK, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alamo Saddlery, Albert Kerbl GmbH, Antares, Billy Cook AMT LLC, Bobs Custom Saddles, Cactus Saddle, Cashel Co., Circle Y Saddles Inc., County Saddlery, Double J Saddlery, Fabtron, Greg Grant Saddlery, Hammersmith Nominees Pty Ltd., HR Saddles and Tack, Louisa Maria Cuomo Saddles, Martin Saddlery, National Bridle Shop Inc., Tex Tan Western Leather Co., Tory, Tucker Saddlery, and Weaver Leather LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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