ALBANY, New York, May 16, 2018 (GLOBE NEWSWIRE) — According to a new market report published by Transparency Market Research titled, “Sports Protective Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and forecast, 2018 – 2026′, the global sports protective equipment market is expected to reach a value of USD 10.3 billion by 2026. The market is expected to grow at a CAGR of 4.2% during the period forecast from 2018 to 2026. In terms of volume, the market is expected to reach 275.0 million units by 2026. The market in Asia-Pacific is expected to grow at a rapid rate during the forecast period.
Sports protective equipment is equipment or tools used for the safety and security of players while playing a sport. It protects players from any type of injury while playing sports. This equipment is designed for different parts of the body. Rise in demand for sports protective equipment is driven by increasing demand for sporting goods, increasing sports penetration in emerging markets, growing popularity of sports leagues and economic development.
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The sports protective equipment market can be segmented on the basis of product, application, and geography. Based on the product, the market can be categorized into hand protection, head protection, lower body protection and others. The others segment includes protective footwear, leg protection, mouth protection and eye protection. The head protection segment is expected to hold a major share of the global sports protective equipment market over the forecast period and is expected to generate revenue of almost $2.7 billion by the end of 2020.
In 2016, North America held a major market share in the global sports protective equipment market owing to the increased awareness of fitness and healthy lifestyle among people and the need for people to protect themselves when playing sports. Moreover, the increase in interest and participation in sports activities leads to the expansion of the market. Product innovation is one of the major factors driving the demand for sports protective gear globally. Moreover, researchers and manufacturers are also trying to design sports protective equipment with essential assistive features such as comfort and lightness with additional protective equipment. Therefore, new products are gradually replacing old ones, creating a significant opportunity for manufacturers during the forecast period. The head protective equipment segment is expected to grow at a significant CAGR during the forecast period, as eye and head protection is essential. Asia-Pacific is expected to be a rapidly expanding market region during the forecast period due to new tournaments and events held in the region. In addition, consumer spending on sports protective equipment and sportswear has increased in Asia Pacific. The market in the Middle East and Africa is expected to grow at a significant rate between 2018 and 2026. However, the region is expected to account for a limited market share. A growing trend in the adoption of protective equipment for sports is seen in Asia Pacific and South America. Globally, the increase in the demand for protective equipment for sports is due to the strict regulations of sports organizations regarding the use of protective equipment. The market is focused on creating new and innovative products that are lightweight and also protect the body parts of gamers.
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Leading manufacturers of sports protective equipment are identifying potential and developing innovative new products for better player safety on the pitch. Through strategic association partnerships, manufacturers of sports protective equipment are expected to more effectively develop sports services and products, market and access new technologies, distribute and create media advertising, improve business of marketing and sales, developing internationally and organizing customer service.
However, higher product prices and availability of cheaper substitutes are likely to restrict the sports protective equipment market in the coming years.
North America dominated the sports protective equipment market in 2017. In the North American region, the United States is expected to drive the sports protective equipment market owing to the stringent regulations associated with player protection against injuries during the practice of a sport. Asia-Pacific offers substantial expansion opportunities to the sports protective equipment market with increasing health and fitness awareness among people.
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The major players operating in the global sports protective equipment market are Nike Inc., Adidas AG, Puma SE, Asics Corp., Amer Sports Corp., Xenith, Under Armor Inc., McDavid Inc., Mueller Sports Medicine Inc. .and Grays International. .
The sports protective equipment market is segmented as below.
By product type
- Head protection
- Upper body protection
- Lower body protection
- Water sports and races
- Ball games
- Mountaineering and rock climbing
- North America
- Rest of North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of the Middle East and Africa
- South America
- Rest of South America
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Mr. Atil Chaudhari
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