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Global ABS Luggage Market 2021: By Product (2 - wheeler, 4 – wheeler), By End User (Families, Business Trip, Short Breaks)Global ABS Luggage Market was valued at US$ XX Mn in 2018, and is expected to be valued at US$ XX Mn in 2024, and further reach a value of US$ XX Mn in 2028, with CAGR of XX% between 2019 and 2028. The global ABS luggage market offers insights on industrial chain, product definition, available product types, end users, and prominent players of the global ABS luggage market. The report also provides detailed information about major players including companys total revenue and growth rate, company business segments, segment revenue, product portfolio, contact details, geographical presence, and SWOT Analysis. The report also presents insights about company competition pattern, industry trends, political influence, and impact of macroeconomic policies. Information regarding raw material suppliers, downstream buyers, distribution networks, and sales channels will be presented in the form of a chart along with other statistical data. The global abs luggage market report has been segmented as per product type, end user, and region.Request Covid - 19 Impact
Product Overview: ABS MaterialABS or acrylonitrile butadiene styrene with chemical formula – (C8H8) x·(C4H6) y·(C3H3N) z) – is a type of thermoplastic polymer. ABS is amorphous in nature and hence has no accurate melting point, however, the glass transition temperature is nearly 105 °C. Acrylonitrile provides features such as chemical resistance and hardness to the products. For good impact resistance capability, butadiene plastic is mixed to make ABS material. ABS-based luggage is one of the most reasonable among the luggage available in the market. ABS material is very light that makes ABS luggage lighter than other options, however, it is not reliable in terms of durable.
Market Driving and Restraining FactorsIncreasing awareness about benefits of ABS luggage among customers, rapidly growing number of people traveling is a major factor expected to drive growth of the global ABS luggage market. Rising number of offers on air-fare, increasing trend of international and national trips such as family trips, solo trips, and group trips is expected to support growth of the target market. In addition, rising medical tourism for surgeries or treatment that is for long stay at hospitals, coupled with prominent features of ABS luggage such as lightweight and spacious are other factors expected to have a positive impact on the target market. Increasing disposable income, rising need for lightweight luggage are factors anticipated to drive growth of the global ABS luggage market. One of the major factors such as fragmented and limited market players across the developed and developing countries, unorganized distribution networks could restrain growth of the global ABS luggage market to a certain extent. In addition, availability of luggage in other materials and low-quality luggage offered by local players could challenge growth of the target market. Increasing technological advancements and development of innovative models with features such as USB charging, remote locking, and luggage tracking to enhance customer experience and enable users to enjoy the tour with extreme comfort is projected to present new opportunities for players operating in the global ABS luggage market in the near future. Increasing focus of manufacturers on development of ultra-lightweight luggage is a major trend in the target market which is expected to gain traction and support growth of the target market.
By Product:Among the product segments, the 4 - wheeler product segment is projected to register highest CAGR in the target market over the forecast period.
By End User:Among the end user segments, the families segment is estimated to account for major revenue share in the global ABS luggage market owing to rising demand for spacious and lightweight luggage for all the members of the family during recreational holidays and leisure.
Region Analysis:The market in the Asia Pacific is anticipated to account for substantial share in terms of revenue and register considerable revenue growth in the global ABS luggage market owing to increasing number of business tours, international and national family vacations, destination weddings, etc. The North America market is projected to register significant growth rate in the global ABS luggage market owing to presence of well-established players, and inclination towards technologically advanced products by individuals in countries in the region.
Below are the leading companies profiled in this ABS Luggage Market Report:
Chapter 1 Methodology and Scope