Sports protective equipment market to reach $10.17 billion by 2026: AMR
PORTLAND, OREGON, USA, July 27, 2022 /EINPresswire.com/ — According to the report published by Allied Market Research, the global sports protective equipment market earned $7.78 billion in 2019 and is expected to reach $10.17 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026. The research offers detailed analysis of changing market dynamics, major segments, competitive scenario, key winning strategies and market size and projections.
Popularity of domestic and international sporting events, increase in sporting activities, increase in consumer spending on sports protective equipment, and increase in consumer awareness related to health and fitness are driving the growth of the global sports protective equipment market. However, the availability of cheap counterfeit products and the expensive nature of sports protective equipment is hampering the growth of the market to some extent. On the other hand, the arrival of the e-commerce trend and the increase in the disposable income of the inhabitants of emerging countries would offer new opportunities to market players.
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Based on the protection area, the head and face protective equipment segment contributed more than half of the total share and is expected to maintain its dominant position by 2026. This is due to the advent of the cycling trend in Europe and the compulsory wearing of helmets. in most sports. On the other hand, the lower limb protective equipment segment is expected to grow at the highest CAGR of 5.1% from 2019 to 2026.
By product type, the pads, protectors, chest protectors and gloves segment accounted for the highest market share, accounting for more than two-fifths of total revenue. The same segment is expected to register the highest CAGR of 4.3% from 2019 to 2026. This growth is due to its wide application in a number of sports.
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Based on geography, North America accounted for more than a third of the total share and is expected to maintain its dominant position during the forecast period. Additionally, Asia-Pacific is expected to register the fastest CAGR of 5.5% from 2019 to 2026.
Major market players covered in the research are Nike Inc., Xenith, Under Armor Inc., Vista Outdoor, Puma SE, Shock Doctor (Bregal Partners), Amer Sports Corporation, BRG Sports, Asics Corporation, and Adidas Ag. They adopted strategies such as expansions, partnerships, mergers and acquisitions, collaborations, joint ventures and others to solidify their position in the industry.
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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