Inclination towards Outdoor Sports to Drive the Sport Protection equipment Market in the Long Run
As per a report available on XploreMR, the global sport protection equipment market is expected to cause disruptions in the world of sports in the forecast period.
The sport protection equipment market is being driven by the growing participation on the part of schools as well as colleges in sports events/activities across the globe. This participation could be, in turn, credited to sports tournaments undertaken by the professional leagues and sports governing bodies like WHL (Western Hockey League), MLB (Major League Baseball), NFL (National Football League), and IPL (Indian Premier League).
Besides, increasing awareness regarding fitness and health has seen people getting more inclined to sports and physical activities, thereby catalysing demand for protection equipment between 2020 and 2030.
What’s does the Latest Trend Point Towards?
It has been observed that several manufacturers of sport protection equipment are into sponsorship of events at global and national levels for expanding their visibility and also gaining competitive advantage. For example – The last concluded FIFA World Cup was sponsored by Adidas. Nike was the official supplier in Rio Olympics and Under Armour in 2014 Winter Olympics. These examples have been accelerating the sport protection equipment market and the trend is expected to continue going forward as well.
On the other hand, the key manufacturers and government bodies all across are taking initiatives for increasing people’s participation in the physical activities inclusive of outdoor and indoor games. Along these lines, the President’s Council on Sports, Fitness & Nutrition (PCSFN) has come up with “The Sport for All” thing. The very objective is that of educating every American regarding advantages associated with participation in sports. The top players are also focusing on innovation for keeping the excitement of customers’ (regarding new products) intact.
The raw materials used include innovative plastic, carbon fiber, and Kevlar. Customized products are provided for increasing market share. Plus, advanced, lightweight products are being asked for as they are reported to be more durable. This factor is also expected to be a booster to the sport protection equipment market.
Head and handgear hold the largest market share due to growing number of professional leagues like World Cycling League, American Football League (apart from the ones mentioned above). The leg protection gears hold the second position. This could be credited to the ever-increasing popularity of football around the world. This is evident from the fact that more than 50% of the global population do look upon their own selves as diehard football fans. Research further states that close to 4 Bn people follow soccer. This sphere of influence is bound to ascend the cash inflow regarding sport protection equipment in the forecast period.
The outbreak of Covid-19 has resulted in economic downturn. The sports activities have also taken a backseat since Mar 2020. As outdoor sports activities/events stand annulled/postponed, the year 2020 is likely to see a dip in revenue on the count of sport protection equipment market. However, the year 2021 is expected to bring in new hopes with Covid-19 vaccine hitting the floors.
The global sport protection equipment market spans North America (Canada, US), Eastern Europe (Russia and Poland), Western Europe (Luxembourg, The Netherlands, Belgium, Nordic countries, Italy, Spain, France, UK, Germany), Asia-Pacific (New Zealand, Australia, ASEAN, Japan, India, China), MEA (North Africa, Southern Africa, GCC), and Latin America (Chile, Peru, Brazil, Mexico, and others).
North America holds the largest market share due to numerous sports being played, with growing popularity of ice hockey. Europe comes in second. Asia-Pacific holds the third position.
The key players in the sport protection equipment market include Alpinestars S.p.A., BRG Sports, Xenith, MIZUNO Corporation, Adidas Group, Nike, Inc., Amer Sports, Shock Doctor, Inc., Warrior Sports, and Franklin Sports Inc.
The use of protective gear in sports has increased with the rise in sports-related injuries. Manufacturers and designers are focusing on developing smart sport protection equipment using wireless sensor technology and new foam technology to improve shock absorption and impact protection in various sport protection equipment. The report, compiled by XploreMR, provides in-depth analysis of the global sport protection equipment market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of XploreMR’s report is to analyze the global sport protection equipment market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Sport protection equipment manufacturers, stakeholders, and suppliers in the global sporting goods & accessories industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and sports journals.
The report commences with a brief information of the global sport protection equipment market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global sport protection equipment market.
The next section offers an overview of the sport protection equipment market. This comprises an introduction to the market, along with a standard definition of the product – sport protection equipment. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global sport protection equipment market, the report provides updates about market opportunities, which can benefit leading manufacturers of sport protection equipment. With continuous evolution of the sporting goods & accessories industry, keeping a record of latest developments and trends is fundamental for sport protection equipment manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
The report provides in-depth analysis on the broad scope of global sport protection equipment market. The report includes segment-wise analysis and offers future prospects of the market. The global market for sport protection equipment is segmented on basis of product type, sales channel, buyer type and region. This section also provides country-wise analysis & forecast across key market parameters.
The report’s last section comprises of the global sport protection equipment market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global sport protection equipment market.
XploreMR is committed to offer unbiased and independent market research solutions to its clients. Each market report of XploreMR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
Sport Protection Equipment Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022Buy Now
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