$ 16.67 Billion Growth in Global Luggage Market 2020-2024 | Includes Insights on Key Product Offered by Major Vendors | Technavio

NEW YORK, March 2, 2021 /PRNewswire/ -- The luggage market is expected to grow by USD 16.67 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the luggage market in optimistic, probable, and pessimistic forecast scenarios.

Enterprises will go through the Response, Recovery, and Renew phases. Get a Free Sample Report Delivered Instantly to Know More

The luggage market will witness a Negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth Increased in 2020 as compared to 2019.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

This post-pandemic business planning research will aid clients to:

• Adjust their strategic planning to move ahead once business stability kicks in.
• Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure

Key Considerations for Market Forecast:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

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Related Report on Consumer Discretionary Include:

Global Smart Carry-on Bags Market - Global smart carry-on bags market is segmented by technology (USB charging and others), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America). Get an Exclusive Free Sample Report

Global Car Rack Market - Global car rack market is segmented by product (bike car rack, roof rack, ski rack, roof box, and water sports carrier) and geography (APAC, Europe, MEA, North America, and South America). Get an Exclusive Free Sample Report

Major Three Luggage Market Participants:

adidas AG

adidas AG operates its business through segments such as Footwear, Apparel, and Hardware. Key products offered by the company include Diablo Duffel Bag Small and Wheeled Team Bag.

Delsey SA

Delsey SA operates its business through segments such as Suitcase, Backpack, travel bag, and Briefcase and accessory. The company offers traveling luggage bag with double spinner wheels.

LVMH Moët Hennessy - Louis Vuitton

LVMH Moët Hennessy - Louis Vuitton operates its business through segments such as Wines and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelry, Selective Retailing, and Other and holding companies. Key products offered by the company include Horizon, Icon, Safari Dior Oblique, and others.

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Luggage Market 2020-2024: Segmentation

Luggage market is segmented as below:

• Product
• Travel Luggage
• Casual Luggage
• Business Luggage
• Sports Luggage
• Distribution channel
• Specialty Stores, Department Stores, Hypermarkets, And Supermarkets
• Online Retail
• Warehouse Clubs
• Geography
• APAC
• Europe
• MEA
• North America
• South America

The luggage market is driven by the growing travel and tourism industry. In addition, other factors such as the introduction of convertible and foldable luggage are expected to trigger the luggage market toward witnessing a CAGR of about 7% during the forecast period.

Get more insights about the global trends impacting the future of the luggage market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR41090

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Report Page:https://www.technavio.com/report/luggage-market-industry-analysis

SOURCE Technavio

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