Global Sports Protective Equipment Market is estimated to reach $9,299 million by 2024; growing at a CAGR of 3.7% from 2016 to 2024. Sports protective equipment provides safety to a sportsperson with low injury risk.
Global Sports Protective Equipment Market Report, published by Variant Market Research, forecast that the global market is expected to reach $9,299 million by 2024 from $6,954 million in 2016; growing at a CAGR of 3.7% from 2016 to 2024. By geography, Rest of the World (RoW) and Asia-Pacific are expected to grow at a CAGR of 6.5% and 5.3%, respectively, during the forecast period.
Rising consumer awareness regarding health & fitness, product enhancement through R&D activities, and eminence of national & international sports activities are some of the major aspects driving the global sports protective equipment market. Though, high cost of these equipment and manufacturing of counterfeit and low-quality products may hamper the market growth.
Moreover, trending online shopping and rise in disposable income in emerging economies is expected to generate numerous growth opportunities for the market in the given forecasted period.
The global sports protective equipment market is primarily categorized on the basis of product type, area of protection, distribution channel, and geography. Classification by product type comprise face protection & mouth guards and pads, helmets & other headgear, protective eyewear, guards and chest protectors & gloves.
While, area of protection is further divided into head & face protective equipment, lower extremity protective equipment, trunk & thorax protective equipment, and upper extremity protective equipment. By distribution channel, the market consists of specialty retail stores, multi-retail stores, and online stores & others.
The pads, guards and chest protectors & gloves ruled the type segment in the year 2016, due to its widespread penetration in football, baseball, cricket, and other sports. By distribution channel, the specialty retail stores accounted for the major market share, followed by multi-retail stores in the year 2016.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical classification of the global sports protective equipment market. The largest market share of 37.9% was occupied by North America in 2016, and is projected to continue its supremacy throughout the forecast period.
The growth is attributed by high purchasing power and growth in participation of various sports such as ice hockey. Asia-Pacific dominated the second largest market with 32% of the total share, due to increase in disposable income and increased consumer expenditure on sports equipment.
In terms of growth, Rest of the World (RoW) is likely to achieve the fastest CAGR of 6.3% in the forecast period 2016-2024.
Major players operating in the sports protective equipment market include, Puma SE, Adidas Ag, Nike Inc., Amer Sports Corporation, Asics Corporation, Under Armour Inc., Xenith, Vista Outdoor, Shock Doctor, and BRG Sports, among others.
- North America
- South America
- Middle East
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