The travel bags global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Travel bags Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The travel bags market size has grown strongly in recent years. It will grow from $18.31 billion in 2023 to $19.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to transportation evolution, fashion and design trends, consumer preferences and lifestyle changes, marketing and advertising, colonial expansion, cultural shifts and social norms.
The travel bags market size is expected to see strong growth in the next few years. It will grow to $27.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to urbanization and mobility, global travel trends, luxury travel, travel regulations and security measures, e-commerce expansion. Major trends in the forecast period include rise in demand for eco-friendly materials, innovative features like built-in chargers, GPS tracking, personalized customization options, versatile design, convenience for modern travelers.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising tourism sector is expected to propel the growth of the travel bags market going forward. Tourism refers to the activity of traveling to different places, typically for leisure, recreation, or cultural exploration. Tourism is on the rise because of several factors, including rising social media and digital influence, increased mobility, increasing sporting events and music festivals, and more. Travel bags are used as essential tools for tourism to ensure convenience, storage, organization, and protection of their belongings while navigating the challenges of travel. For instance, in June 2022, according to reports shared by the US Department of Commerce, a US-based executive department of the federal government, international arrivals for travel and tourism in US states increased to 22.1 million in 2021 from 19.2 million in 2020. Therefore, the rising tourism sector is driving the growth of the travel bags market.
Market Trends –
Major companies operating in the two-way radio market are developing advanced solutions, such as portable two-way radios, to enhance mission-critical communication for frontline workers. Portable two-way radios are handheld communication devices that allow users to transmit and receive messages wirelessly. These radios are versatile, affordable, and easy to use, making them ideal for various applications like public safety, construction, and other events. For instance, in November 2023, Hytera Communications Corporation, a China-based communications equipment company, launched a new generation of intrinsically safe (IS) two-way radio series, including the HP79XEx DMR Portable Two-way Radio and the PT890Ex TETRA Portable Radio. The new radios, aimed at enhancing personnel safety and communication efficiency, are certified by various explosion-proof standards, making them suitable for industries like oil and gas, mining, chemical, firefighting, and more. These radios are designed to prevent sparking during use, limit heat generation, and ensure safety in hazardous environments with flammable dust and vapors.
The travel bags market covered in this report is segmented –
1) By Product: Duffle, Trolley, Backpacks
2) By Material Type: Polyester, Fabric, Leather, Other Material Types
3) By Price Range: Premium Price, Medium Price, Low Price
4) By Distribution Channel: Online, Offline
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Regional Insights –
North America was the largest region in the travel bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the travel bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the travel bags market are Louis Vuitton Moët Hennessy, Kering S.A, Eagle Creek Inc., Hermes international, VF corporation, callaway golf company, Samsonite International S.A., Marel Inc., Fenix outdoor, Tumi Holdings Inc., Pelican Products Inc., Black Diamond Equipment Ltd., Delsey SA, Patagonia Inc., Longchamp SAS, Travelpro International Inc., Thule Group, Kipling Retail LLC , High Sierra Sport Company, Timbuk2 Designs Inc., Briggs & Riley Travelware LLC, Swissgear, Rimowa GmbH, Deuter Sport GmbH, Everest Bag
Table of Contents
1. Executive Summary
2. Travel bags Market Report Structure
3. Travel bags Market Trends And Strategies
4. Travel bags Market – Macro Economic Scenario
5. Travel bags Market Size And Growth
…..
27. Travel bags Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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