To thrive in this rapidly transforming marketplace, today’s businesses call for innovative and superlative solutions. In addition, businesses can recognize the extent of the marketing problems, causes for failure of particular product (if any) already in the market, and prospective market for a new product to be launched. CAGR levels for the market with respect to its rise or fall are estimated in Global Sports Protective Equipment Marketreport for the forecast period of 2018 to 2025. By understanding client’s requirements precisely, this report brings together business and product information for the sustainable growth in the market.
Global Sports Protective Equipment Market is expected to rise from its initial estimated value of USD 5.93 billion in 2018 to an estimated value of USD 8.70 billion by 2026, registering a CAGR of 4.92% in the forecast period of 2018-2026.
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Market Definition: Global Sports Protective Equipment Market
The global sports protective equipment market deals with the equipment and accessories of sports which are mainly used to prevent injuries and keep the players safe during the sports activities. The equipment is made for all the parts of a human body. The rise in the sports equipment markets is mainly due to the increase in the sports and recreational activities. The consumer expenditure on sports protective equipment has also increased in the recent years. However, the growth may decline at a certain rate due to the decreasing profit margins.
The sports protective equipment can be segmented based on sports type, product type, distribution channel, area of protection and end users. Based on the product, the sports’ protective equipment can be segmented into hand protection, head protection, the lower body and others. The head protection segment is expected to hold the major market share.
- The rise in demand for the sporting goods and increasing popularity of sports leagues, and recreational activities, drives the market of the sports protection equipment.
- The increasing prominence of various distribution channels in the form of online stores and multi-specialty stores is another major factor toward the growing market.
Key Developments in the Market:
- In 2016, the Australian Government launched Asian Sports Development Partnerships (ASP) program of USD 4 million worth leading to developments in sports across the Asia-Pacific region.
- In 2017, 2ND Skull received USD 100,000 in funding from the NFL as part of HeadHealthTECH Challenge II. The company mainly deals in creating protective skull caps for tough contact sports such as football and rugby.
- In March 2018, Xeros Technologies acquired Gloves Inc., providing personal protection equipment cleaning, inspection and repair services in the Miami metro areas.
Global Sports Protective Equipment Market Competitive Analysis:
Global sports protective equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sports protective equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Global Sports Protective Equipment Market Key Competitors:
Few of the major competitors currently working in global sports protective equipment market are: Adidas, Amer Sports, Nike, BRG sports, Under Armour, PUMA SE, Fortune Brands Home & Security, Inc., Dunlop Sports Group Americas Inc., DAIWA SEIKO CO., LTD. and Jaren Corporation.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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