Global Luggage Market (Size of $30,967 million in 2014) to Witness 6% CAGR during 2015 – 2020

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Global Luggage Market (Size of 30,967 million in
2014) to Witness 6 CAGR during 2015 2020
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Luggage Market
The global luggage market is expected to increase
from 30,967.0 million in 2014 to reach 43,356.0
million in 2020, growing at a CAGR of 5.5. The
global luggage market is mainly driven by
changing lifestyles and increasing urbanization,
which is further creating opportunities for
luggage sales among high net-worth individuals.
Growing interest of people in tourism is an
important driver boosting the global luggage
market demand. The Asia-Pacific luggage market is
expected to witness the fastest CAGR of 6.7
during 2015 2020. Evolving technologies in the
luggage industry are also expected to boost the
luggage market growth. Explore report description
with detailed TOC https//www.psmarketresearch.co
m/market-analysis/luggage-market
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Luggage Market
Luggage as a fashion accessory is also
influencing luggage suppliers to provide modern,
lightweight luggage items suitable for continuous
use. Luggage as a fashion accessory has become
popular over the last few years, especially in
developed and mature markets such as that in the
U.S. which has led to increase in demand for
luggage, especially business related luggage. In
Europe, spending on travel and tours is expected
to increase with increasing business trips and
leisure trip due to lowering of air travelling
costs. The information and data in the
publication Global Luggage Market Size, Share,
Development, Growth and Demand Forecast to 2020
represent the research and analysis of data from
various primary and secondary sources. Bottom-up
approach has been used to calculate the global
Luggage market by product. The market numbers for
countries are obtained through top-down approach.
PS Market Research analysts and consultants
interact with leading companies of the concerned
domain to substantiate every data presented in
this report. The company base its primary
research on discussions with prominent
professionals and analysts in the industry, aided
by informed and detailed online and offline
research.
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Luggage Market
The demand for lightweight durable consumer
products such as luggage is increasing globally.
Lightweight luggage is easier to carry and
handle, and provides comfort to customers.
Luggage companies are utilizing raw materials,
such as polycarbonate resins, to decrease the
weight of luggage. There have been several
technological advancements in the luggage market,
such as provision for increased level of security
and utility in the baggage. These luggage
products are expected to be popular among the
high net worth individuals population. Additional
features, such as connectivity, have been added
to the luggage, which has increased their
traceability and security. For added consumer
preferences for security, smart luggage is
equipped with various technologies and features,
such as bluetooth-enabled lock, global
positioning system (GPS), and a USB port for
recharging electronic devices, such as mobile
phones. The major companies operating in the
global luggage market include Samsonite
International S.A., Inc., Tumi Holdings, Inc.,
VIP Industries Ltd., VF Corporation, Briggs
Riley Travelware, Rimowa GmbH, MCM Worldwide, and
Louis Vuitton Malletier S.A..
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Luggage Market
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uggage-market/report-sample
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