Solar Charged Jackets Market Trends

Growth Drivers

Growing Trend For Adventure Activities

The concept of adventure tourism in the recent era have multiplied tremendously amongst individuals around the globe. Backed by rising household income of individuals along with the increasing spending for tourism activities and favorable support for the development of tourism industry by the government of nations around the globe, activities such as climbing, hiking, caving, rafting and others have grown exponentially over the years. Several adventure activities such as mountaineering, camping, trekking, rock climbing, mountain biking and others involve a high degree of life risks. As such, there is a surge in demand for appropriate outfits required for such type of adventure activities. The phosphorescent compound present in solar charged jacket helps it to glow in the dark. As a result, it is a great outfit for high risk involving adventure sports, as in the case of an incident which might involve search and rescue operations, the rescue operator can easily search for the person wearing the solar charged jacket. Such a factor is thereby anticipated to drive the growth of the global solar charged jacket market during the forecast period.

Rising Awareness for the Benefits of Sports

Playing sports provides several health benefits such as improved cardiovascular health, lower risk of heart diseases, weight management, relieve from stress, and several others. As a result, several governmental organizations from across the globe are creating awareness with the benefits associated with playing sports. For instance, The Association For International Sport for All (TAFISA) has set the TAFISA Mission 2030 which aims to provide a foundation for action and growth of the Sport for All and physical activity Movement to create a better world between now and 2030. As such, with the growing acceptance for sports activities in day to day life of individuals, there is a surge in the demand for professional sports wear that also meets the purpose of fashion. Products such as solar charged jacket are designed with all the features as required for sports persons and also adds to the trend in fashion apparels. Such a factor is anticipated to drive the growth of the global solar charged jacket market in the upcoming years.

Less Market Competition

Lack of competitors in the market for solar charged jacket provides an excellent opportunity for all those manufacturers who are planning to expand their product line in the solar charged jacket market. Absence of rivalries provides an opportunity to players to set a monopoly into the market thereby gaining higher profits.

Challenges

High Price of End Product

Owing to less competition and more of a monopoly product, the solar charged jacket are priced comparatively high which might hamper the sales of the manufacturer. Such a factor is anticipated to act as a barrier to the growth of the global solar charged jacket market.