Sports Protective Equipment Market Rising With Growth In New Technology Trends Research By 2025


The global sports protective equipment market size is expected to reach USD 12.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. The market is expected to witness significant growth owing to growing popularity of sports activities in schools and colleges.
Increasing popularity of outdoor games such as soccer and American football is expected to increase the demand for sports protective gears over the forecast period. Moreover, increasing number of sports leagues and outlets is expected to provide growth opportunities for the market in the coming years. In addition, sports clubs are raising awareness among people by conducting events at various places across the world, which will have a positive impact on the sports protective equipment market growth.
For instance, since 2007, the National Football League (NFL), one of the most popular sporting leagues in U.S., has organized several events in London to increase awareness regarding American football. In 2017, NFL organized four game events in London and around 84,500 fans came to watch the match between Jacksonville Jaguars and Baltimore Ravens at Wembley Stadium.
In 2018, the head and headgear product segment dominated the market and is expected to maintain its lead over the forecast period. The growth is attributed to increasing awareness regarding head injuries. For instance, Phillip Joel Hughes was an Australian Test and One Day International (ODI) cricketer who played domestic cricket for South Australia and Worcestershire, died during the match due to head injury, which has created awareness among the young enthusiastic players. Leg protection gears are expected to register the highest CAGR of 5.6% from 2019 to 2025. The segment growth is attributed to increase in the number of participants in individual sports, such as mixed martial arts, cycling, boxing, and skating.
North America was the largest regional market in 2018. U.S. was the major revenue contributor in North America. Increasing popularity of football, field hockey, and ice hockey is anticipated to drive the regional market over the forecast period. Asia Pacific is expected to expand at the fastest CAGR of 6.7% over the forecast period. Increasing number of sports equipment outlets in India and China and rising wealth and health awareness in the region is expected to have a positive impact on the market growth.
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Further key findings from the study suggest:
·         By product, leg protection gear is projected to expand at the fastest CAGR of 5.6% over the forecast period. Head and headgear was valued at USD 2.8 billion in 2018 and is projected to witness significant growth in the next few years
·         The offline distribution channel segment dominated the global market in 2018 with 92.0% share of the overall revenue
·         North America dominated the global market in 2018 and accounted for 40.0% share in terms of revenue. This trend is projected to continue over the next few years
·         Growing popularity of field sports at the national and international levels is expected to drive the market over the forecast period
·         The industry is highly competitive due to presence of main players including Nike, Inc.; Adidas Group; MIZUNO Corporation; Shock Doctor, Inc.; BRG Sports; Amer Sports; Xenith, LLC; WARRIOR SPORTS; FRANKLIN SPORTS INC.; and Alpinestars S.p.A.
·         Various manufacturers are concentrating on new product launches and product innovation in order to expand their consumer base.
Various initiatives undertaken by government bodies and key manufacturers across the globe are likely to increase the participation in physical activities, including indoor and outdoor games. For instance, The Sport for All initiative undertaken by the President's Council on Sports, Fitness & Nutrition (PCSFN) aims to educate all Americans regarding the benefits associated with sports participation. Moreover, leading manufacturers are focusing on development of innovative products in order to meet the consumer requirements.
Protective gear manufacturers are using various raw materials such as Kevlar, innovative plastic, and carbon fiber to produce advanced protective gears. In addition, various manufacturers are focusing on providing custom products to expand their customer base and increase market share. Furthermore, innovative and advanced products are increasingly replacing old products as they are lightweight and durable. This, in turn, is likely to provide growth opportunities for the manufacturers in coming years.
Head and headgear was the largest product segment in 2018, accounting for 31.2% share of the overall revenue. Increasing number of professional leagues such as the IPL, American Football League, and World Cycling League is a key factor driving the demand for helmets and head protection gears over the forecast period. Growing popularity of American football, cycling, and baseball will further fuel the demand for head protection equipment. Rising participation in sports in various countries such as India, Africa, and China is expected to provide growth opportunities for the segment in the foreseeable future.
Leg protection gears are expected to expand at the highest CAGR of 5.6% from 2019 to 2025. Growing popularity of soccer across the globe will have a positive impact on the segment growth. For instance, according to the study, soccer or football is the most popular sport in the world. It is estimated that more than half of the world's population consider themselves to be association football fans. The sport enjoys an estimated 4.0 billion person following, and a global sphere of influence.
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https://www.grandviewresearch.com/press-release/global-sports-protective-equipment-market
Grand View Research has segmented the global sports protective equipment market on the basis of product, distribution channel:
Sports Protective Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Head & Headgear
·         Eyewear
·         Chest Protection
·         Hand Protection
·         Leg Protection
·         Others
Sports Protective Equipment Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Offline
·         Online
The offline segment held the largest share of more than 90.0% in 2018. Increasing number of sports equipment outlets in India and China is expected to have a positive impact on the growth of the market. For instance, Adidas AG, the German sportswear manufacturer, will open 3,000 new stores in China by 2020, owing to rising wealth and health awareness in the country. The key aim is to expand its retail network across the globe.
Furthermore, increase in the number of outlets will help companies to bridge the gap between consumers and companies, which will have a positive impact on the growth of the market. The online segment is expected to expand at the fastest CAGR of 7.5% over the forecast period. Online sales channel has witnessed significant growth in the last few years due to increasing internet penetration in various countries. Moreover, online retailers including Amazon, Walmart, and DICK’S Sporting Goods are fueling the segment growth.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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