Sports Protective Equipment Market is expected to reach a value of US$ 10.3 Bn by 2026. The market is estimated to expand at a CAGR of 4.2% during the forecast period from 2018 to 2026; market in Asia Pacific is projected to expand at a rapid pace during forecast period.
Albany, NY -- (SBWIRE) -- 05/26/2018 -- Sports Protective Equipment Market - Snapshot
Sports protective equipment includes equipment or tools used for safety and security of players while playing sports. Sports protective equipment protects players from any kind of injury while playing sports. This equipment is made for different parts of the body. Rise in demand for sports protective equipment is due to increase in demand for sporting goods, rise in penetration of sports in emerging markets, increasing popularity of sports leagues, and economic development. The sports protective equipment market can be segmented based on product, application, and geography. Based on product, the sports protective equipment market can be segmented into hand protection, head protection, lower body protection, and others. The others segment includes protective footwear, leg protection, mouth guards, and eye protection. The head protection segment is expected to hold a major market share in the global sports protective equipment market during the forecast period and is estimated to bring in revenues of nearly US$ 2.7 Bn by the end of 2020. Numerous research initiatives are undertaken by various companies worldwide to develop sports protective equipment into more versatile products.
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More advanced products and awareness among target customers are expected to drive future opportunities in the sports protective equipment market, both in developed and developing nations. Researchers and manufacturers are also trying to design sports protective equipment with essential assistance features such as comfort and light weight with extra protective gear. Therefore, new products are gradually replacing old products, creating a significant opportunity for manufacturers during the forecast period.
global sports protective equipment market
By product type the market is subdivided into head protection, upper body protection, lower body protection and footwear. In terms of application, the sports protective equipment market can be categorized into water sports and racing, ball games, and mountaineering and rock climbing. Rise in interest and participation in sports activities is resulting the expansion of the market. In addition, rise in consumer awareness related to fitness and health is boosting the demand for sport protective equipment.
The global sports protective equipment market is estimated to expand at a significant growth rate between 2018 and 2026 due to strict regulation by sports organizations regarding the use of protective equipment. Several countries across the globe are witnessing a significant demand for new and innovative products as the number of tournaments and sports events held in different countries is increasing. Sports has earned more significance both as an active and inactive source of entertainment. Therefore, consumer expenditure on sports protective equipment and sportswear has increased. Leading sports protective equipment manufacturers are identifying the potential and developing new and innovative products for better safety of players on the field. Through strategic associations and partnerships, sport protective equipment manufacturers are expected to more effectively develop sport services and products, commercialize and access new technologies, distribute and create media advertising, improve marketing and sales activities, expand internationally, and organize customer service.
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Awareness about health and fitness is increasing. The number of sports tournaments and leagues is also on the rise. This is driving demand for sports protective equipment. Based on geography, the sports protective equipment market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America held a significant share of the sports protective equipment market as due to rise in awareness about fitness and health and increasein participation of people in sports.
Major sports protective equipment market players profiled in the report include Nike Inc., Adidas AG, Puma SE, Asics Corp., Amer Sports Corp., Xenith, Under Armour Inc., McDavid Inc., Mueller Sports Medicine Inc., and Grays International.