Indoor Climbing Walls in the US Industry Market Research Report Now Available from IBISWorld
(PR Web Via Acquire Media NewsEdge) Los Angeles, CA (PRWEB) October 15, 2013
The Indoor Climbing Walls industry slipped during the recession but has since lifted itself up, bolstered by rising disposable income and falling unemployment. Companies in the Indoor Climbing Wall industry operate climbing wall centers or indoor rock climbing centers. Since the industry is heavily reliant on consumers, revenue tends to ebb and flow with fluctuations in per capita disposable income and employment levels. As unemployment surged and disposable income plummeted during the recession, consumers cut back on discretionary spending, opting to participate in relatively low-cost recreational activities, such as hiking. Nevertheless, disposable income rebounded in 2010, allowing consumers to increase participation in indoor wall climbing. As a result, industry revenue is expected to grow in the five years to 2013.
According to IBISWorld Industry Analyst Brandon Ruiz, “The Indoor Climbing Walls industry has a low level of market concentration, is highly fragmented and consists mainly of small businesses that cater to a specific geographical niche.” Typically, industry operators develop a customer base by word of mouth rather than using brand recognition, which prevents large players (such as Touchstone Climbing Inc., Rockreation Inc. and Vertical World) from developing a strong market share (see IBISWorld report OD4377 for major player market shares). As a result, IBISWorld expects that no industry operator accounts for more than 5.0% of industry revenue. During the five years to 2013, market share is anticipated to remain low, as operators continue to develop a local market niche by attracting health conscious consumers that want to diversify their gym experience.
The industry is also increasingly becoming a fitness alternative to gyms and other fitness centers. Consumers are shifting their preference from yoga, Pilates and various other exercises, to indoor wall climbing. Additionally, consumers aged 25 and younger are lifting industry revenue higher, as they are more likely to participate in-group events, such as birthday parties, climbing lessons and youth group activities. Moreover, this market segment tends to have more available leisure time for sports and other recreational activities.
“Over the five years to 2018, the Indoor Climbing Walls industry is expected to continue benefiting from rising disposable income and falling unemployment,” says Ruiz. One of the largest obstacles for the industry was the perceived risk of injury while participating in indoor wall climbing. To this end, improvements in safety equipment technology, such as automated belays, a device used by climbers and belayers to decrease the likelihood of a serious injury, are expected to propel revenue growth as injury concerns are alleviated and consumers shift their perception of indoor wall climbing from being an extreme sport to a mainstream activity. As a result, IBISWorld expects industry revenue to grow in the five years to 2018.
For more information, visit IBISWorld’s Indoor Climbing Walls in the US industry report page.
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IBISWorld industry Report Key Topics
Companies in the Indoor Climbing Walls industry operate climbing wall centers or indoor rock climbing centers. A climbing wall is an artificially constructed wall with grips for hands and feet, and it is usually used for indoor climbing.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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