SPORTS PROTECTIVE EQUIPMENT MARKET TO BE VALUED AT US$ ~ 12.8 BN BY 2027
Posted by surendra choudhary on July 3rd, 2019
Transparency Market Research delivers key insights on the global sports protective equipment market. In terms of revenue, the global sports protective equipment market is estimated to expand at a CAGR of ~ 5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the sports protective equipment market report.
Sports protective equipment are uniquely designed for certain sports to prevent injuries. Sports protective equipment plays an integral role in ensuring the safety of an athlete who is participating in some sport. The sports industry is expanding rapidly across the world, as a large number of people are increasingly taking up sports and other recreational activities. The global sports industry, today, is an all-encompassing business, which covers everything from sporting goods and apparel to broadcasting rights, sponsorships, merchandising, and gate revenues.
In this sports protective equipment market report, TMR predicts that, the head protection segment is expected to have a prominent market share (~35%) in the global sports protective equipment market, which was valued at US$ 8.57 Bn in 2018, and is expected to expand at a CAGR of ~ 5% from 2019 to 2027. Head protection and upper body protection equipment acquired a substantial share of the sports protective equipment market, owing to the dominance of sports such as rugby, baseball, boxing, and ice hockey, where upper body protection and head protection equipment play a major role.
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In terms of product type, in the sports protective equipment market, the head protection segment accounted for a prominent market share, and this is anticipated to increase even more during the forecast period. The popularity of competitive sports, extreme sports, and fitness training, including strength programs, is increasing at an exponential rate. Extreme sports such as motor racing, dirt biking, mountain climbing, and water sports such as the ISA World Masters Surfing Championship and Freestyle Kayak Championships are examples of some of the popular extreme sports events that are gaining huge popularity among the population, worldwide.
The demand for sports protective equipment is anticipated to increase during the forecast period, with the growing participation of people in various sports. With higher participation across various sports, the impact of the driver is anticipated to be high, thereby, proliferating the demand for head protection equipment. Most sports-related injuries occur due to lack of usage of proper sports protective equipment. Hence, sports agencies and associations are becoming stricter in terms of the usage of protective sports equipment to minimize injuries.
Sports Protective Equipment Market: Prominent Regions
The sports protective equipment market in North America was valued at US$ 3.08 Bn in 2018, and is anticipated to rise at a CAGR of ~ 5% from 2019 to 2027. The introduction of many national and international leagues in various sports is leading to the massive increase in sports participation, which demands proper sports protective equipment, indirectly projecting new requirements for these equipment.
Water sports and racing are highly popular among the North American population. Water sports such as surfing and snorkelling are fairly popular in North America, owing to its geographical conditions, surrounded by multiple beaches. Additionally, racing sports such as drag race, dirt racing, and endurance championships are some of the well-known motorsports in North America where sports protective equipment plays a major role.
The sport protective equipment market in South America is expected to witness steady growth in the coming years. The head protection equipment segment acquired a prominent share of 35%, in the sports protective equipment market in 2018, and is anticipated to grow further during the forecast period. This is due to the increasing number of participants in sports such as baseball, boxing, rugby, motorsports, etc. where head and upper body protection equipment plays a dominant role. The head protective equipment segment is closely followed by the upper body protection segment in the sports protective equipment market.
Sports Protective Equipment Market: Key Players
Key players operating in the global sports protective equipment market include Adidas AG, Amer Sports Corporation, ASICS Corporation, Grays of Cambridge Ltd., McDavid Inc., Mueller Sports Medicine, Inc., Nike Inc., Puma SE, Under Armour Inc., and Xenith LLC.
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About the Authorsurendra choudhary
Joined: February 12th, 2019
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