Global Sports Protective Equipment Market: Snapshot
The global sports protective equipment market is witnessing a strong rise on the ground of to the growing interest of young generation in various types of sports, increasing need for sporting goods, and the bolstering popularity of sports leagues. In addition to this, the rising number of sports events is expected to fuel the demand for sports protective equipment significantly over the next few years. The growing awareness among consumers regarding safety and security during games is also projected to reflect positively on the sales of sport protective equipment, worldwide, in the near future.
The global market for sports protective equipment stood at US$7.10 bn in 2016. Expanding at a CAGR of 3.80% between 2017 and 2025, this market is likely to rise to US$9.82 bn by the end of 2025.
Water Sports and Racing to Report High Demand for Sports Protective Equipment
Sports protective equipment are extensively utilized in water sports and racing, ball games, and mountaineering and rock climbing. Among these, the demand for sports protective equipment is higher in water sports and racing. Analysts anticipate this trend to remain so over the next few years. Coasteering, snorkeling, water skiing, and jet skiing are some of the most popular water sports while racing sports include running, car racing, cycling, skating, motorsport.
Thailand, the U.S., India, Mauritius, and Australia are some of the famous destinations for water sports across the world. The tourism industry in these countries is fairly strong and, owing to this, a fair amount of tourists engage themselves in water sports every year, which in turn, calls for the usage of protective equipment.
Europe to Continue Leading Global Sports Protective Equipment Market
Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America are the key regional markets for sports protective equipment across the world. Europe, among these, has emerged as the leading regional market. In 2016, it acquired a share of more than 41% in the overall market, thanks to the increasing interest of the youth towards water sports and racing. With this region poised to host a number of major sports events in the coming years, it is expected to maintain its dominance over the global market for sports protective equipment in the years to come.
Asia Pacific and North America are the other prominent regional markets for sports protective equipment in the world. China and India are the prime domestic markets for sports protective equipment in Asia Pacific. The increasing support from the government to encourage sports activities is likely to boost the sports protective equipment market in Asia Pacific over the next few years. The North America market, on the other hand, is likely to be driven by the increasing number of high-profile sporting events in the near future.
The global market for sports protective equipment is marked by some strong competition from the major players operating in it. Frequent mergers and acquisitions, partnerships and joint venture, product innovation, research and development, geographical expansion are some of the key the strategies adopted by the leading players to ensure long term sustenance in this market. Nike Inc., Adidas AG, Puma SE, Asics Corp., Amer Sports Corp., Xenith, Under Armour Inc., McDavid Inc., Mueller Sports Medicine Inc., and Grays International are some of the prominent vendors of sports protective equipment across the world.
Global Sports Protective Equipment Market: Overview
Sports equipment market is expected to experience relentless development amid the given period of forecast. Increasing participation in sports related activities combined with growing awareness provided about security offered by these items is driving the interest for protective equipment market all around the globe. In addition to this, the fast development of the e-commerce industry has only added to the development of this market in the current conditions. Online channels of distribution offer different advantages such as multiple brands, various choices of products, colors, measure, range of prices, easy delivery, and time saving among others. The development of the e-commerce industry has enabled the players in the market to reach out to a broader client base and offer different items according to customer's preference, which is also helping in the overall development of the market.
The research report about the global sports protective equipment market segments the global market in terms of type of product and application. The global market for sport protective equipment can be further segmented in terms key geographical regions. Such precise segmentation of the global market is designed in a manner to help the potential buyers to make an informed decision and better their overall business model.
The research report Sports Protective Equipment Market (Product Type - Head Protection, Hand Protection, and Lower Body Protection; Application - Water Sports and Racing, Ball Games, and Mountaineering and Rock Climbing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025 spreads the global market scenarios of sports protective equipment over key geographical regions. The study report on global market expects the quick development of the market for the given forecast period of 2017 to 2025. The positive development diagram of the market is ascribed to a few viewpoints that are well talked about in the research report. The precise costing assessment and value chain evaluation are also discussed in the research report. This study report is focused on different product types and various channels of distribution of sports protective instruments to reach varied client base. The research report tries to incorporate historical data of the global market alongside the present market situations. Depending on the developments and trends and the past and current market scenarios, tries to present the future market assessment for a period of 2017 to 2025.
Global Sports Protective Equipment Market: Trends and Opportunities:
Sport protective equipment are heavily used in the sports such as water sports, motor racing, mountaineering, and ball games. One of the key driving factors expected to drive the overall growth of the global market for sports protective equipment is the rising interest of young population in these various sports. Other important factors projected to augment the growth of the market are the growing demand for sporting good and ever increasing popularity of different sports leagues. Additionally, the rising number of sporting events coupled with increasing awareness about safety while playing sports are projected to drive the overall growth of the global market in the coming years of forecast period.
Global Sports Protective Equipment Market: Geographical Segmentation
The global market for sports protective equipment can be segmented into key geographical regions. These regions include North America, Middle East and Africa, Asia Pacific, Europe, and Latin America. The regional market of Asia Pacific and North America are expected to show promising growth rate over the course of the given forecast period.
Global Sports Protective Equipment Market: Key Companies
Some of the key players in the global sports protective equipment market include names such as Nike Inc., Puma SE, Adidas AG, Amer Sports Corporation, Asics Corporation, Xenith, McDavid Inc., Mueller Sports Medicine Inc., and Under Armor Inc., among others.
The segments covered in the global sports protective equipment market are as follows:
- Head Protection
- Hand Protection
- Lower Body Protection
- Water Sports & Racing
- Ball Games
- Mountaineering and Rock Climbing
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America