Variant
Market Research state that the global sports protective equipment 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. The global market is majorly driven by growth
in national & international sports activities, upsurge in consumer
awareness regarding fitness & health, and upsurge in disposable income. However,
high cost of this equipment may hinder the market growth in the coming years.
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Product
type, area of protection, distribution channel, and geography are the key
segments of the global sports protective equipment market. Product type segment
includes protective eyewear, helmets & other headgear, face protection
& mouth guards, and pads, guards and chest protectors & gloves. Area of
protection is further bifurcated into head & face protective equipment, lower
extremity protective equipment, upper extremity protective equipment, and trunk
& thorax protective equipment. By distribution channel, the global sports
protective equipment market is categorized into multi-retail stores, specialty
retail stores, and online stores & others. By distribution channel, the
specialty retail stores generated the maximum revenue in 2016 followed by
multi-retail stores.
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The
global sports protective equipment market by geography is segmented into North
America, Europe, Asia-Pacific, and RoW. North America accounted for the largest
market share of 37.9% in 2016, and is expected to continue its dominance during
the forecast period, driven by high per capita income and growth in
participation of various sports in the region. Asia-Pacific accounted for the
second largest market share of 32% in 2016. In terms of growth, Rest of the
World (RoW) is expected to grow at a fastest CAGR of 6.3% over the forecast
period 2016-2024.
Major
players in the sports protective equipment market include, Nike Inc., Amer
Sports Corporation, Puma SE, Asics Corporation, Adidas Ag, Vista Outdoor, Under
Armour Inc., Shock Doctor, BRG Sports, and
Xenith, among others.
For information, contact:
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