Travel Bags Market Growth and Segments, 2016-2026
Travel Bags Market
Share, Global Trends,
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Segmentation and Forecast,
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The global luggage market can be segmented into travel bags, business bags and casual bags.
Global travel bags market comprises products that are used for travelling, such as carry-ons
(hand bags or cabin bags) and suitcases.
Global travel bags market can be broadly segmented into hard sides, soft sides, and hybrid
according to the material used for their manufacturing. Global travel bags market accounts
for nearly 40% to 50% share of the global luggage market. It is expected to increase at a
steady compound annual growth rate during the forecast period 2016-2026.
GlobalTravel Bags Market: Drivers & Restraints
On a macroeconomic level, the key factors driving the growth of the global travel bags
market include resurgence in the global economy, increasing urbanisation, and increase in
disposable income among the middle class in emerging economies. The global tourism
industry took a hit during the financial crisis of 2007-08, and this had far-reaching effects on
the global travel bags market. However, as the global economy witnesses a resurgence, and
tourism activities gain momentum, demand for travel bags is steadily increasing.
The middle class in emerging economies has ramped up demand across a wide range of enduse industries, most notably consumer electronics and automobiles. The impact of this
burgeoning consumer segment is also visible in the travel bags market, as rapid globalisation
has led to an increase in the number of people traveling for business and leisure activities.
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The global travel bags market is highly fragmented, and although established players have a
strong positioning in developed countries, a number of regional players account for a
sizeable share of the market in developing countries. A number of local players also use the
logos of leading brands on their products, creating fake products, which are then sold at a
fraction of the cost of the original. This significantly eats into the revenue share of the
leading players in the market.
Travel Bags Market: Segmentation
•On the basis of types, global travel bags market is segmented into:
•Trolley bags and suitcases
•On the basis of the type of materials used, global travel bags market is segmented into:
•On the basis of price, global travel bags market can be segmented into:
•Low price (generally includes highly fragmented local brands)
On the basis of distribution channel, global travel bags
market can be segmented into:
Travel Bags Market: Region-wise Outlook
In developing market regions, especially Asia-Pacific and Latin America, global travel bags
market is anticipated to have high growth during the forecast period due to increase in
disposable income, urbanization, and global travel, specially the rail and air travel which
is estimated to grow with a single digit CAGR during the forecast period. North America
and Europe are expected to have robust growth during the forecast period with growing
per capita expenditure on travel & tourism and increasing purchasing power of the
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Travel Bags Market: Key Players
Some of the key players in global travel bags market include Samsonite company stores,
LLC., VF Corporation, Targus group international, Inc., Rimova, Delsey, Crown, VIP,
Shanghai Fochier Intel’ Co. Ltd., Tumi, Inc. Antler and New travel sports co. ltd.
In Europe, growth of the absorption chillers market is anticipated to be driven by steady
demand from the frozen food sector. Asia Pacific and Middle East & Africa (MEA) are
expected to offer substantial growth opportunities to absorption chillers manufacturers,
owing to overall economic growth in the region. Decades of strong economic growth has
resulted in the emergence of a burgeoning middle class in APEJ and MEA, which is
ramping up demand across a broad spectrum of end-use industries. Steady growth in the
region’s food processing sector, especially frozen food, is expected to ramp up demand
during the forecast period.
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Absorption Chillers Market: Key Players
•Some of the key players in the global absorption chillers market are as follows:
•MultiChill Technologies Inc
•Kirloskar Pneumatic Company Ltd
•World Energy Absorption Chillers Europe Ltd
•LG Air Conditioning (Shandong) Co., Ltd.
•Hitachi Appliances Inc.
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