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. There
are several driving factors of the global sports protective equipment market
such as increase in consumer awareness related to health & fitness, rise in
national & international sports activities, and upsurge in disposable
income. However, high cost of this equipment may hinder the market growth in
the coming years. Increasing trend of online shopping would provide several
growth opportunities for the market.
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Major
segments of the sports protective equipment market are product type, area of
protection, distribution channel, and geography. Product type is bifurcated
into helmets & other headgear, face protection & mouth guards, protective
eyewear, and pads, guards, chest protectors & gloves. Area of protection segment
includes lower extremity protective equipment, head & face protective
equipment, upper extremity protective equipment, and trunk & thorax
protective equipment. The pads, guards, chest protectors, & gloves dominated
the type segment in 2016, driven by its extensive penetration in football, baseball,
cricket, and other sports. Furthermore, multi-retail stores, online stores
& others, and specialty retail stores are the key sub segments of distribution
channel. By distribution channel, the specialty retail stores generated the
maximum revenue in 2016 followed by multi-retail stores.
North
America, Europe, Asia-Pacific and RoW are the key segments of the global sports
protective equipment market. North America accounted for the largest market
share of 37.9% in 2016, and is expected to continue its dominance during the
forecast period, owning to increase in per capita income and rise in
participation of various sports such as ice hockey in this region. Moreover,
Rest of the World (RoW) is expected to attain the fastest CAGR of 6.3%, over
the forecast period 2016-2024.
The
key market players in the sports protective equipment market are Adidas Ag, Puma
SE, Vista Outdoor, Asics Corporation, Nike Inc., Under Armour Inc., Shock
Doctor, BRG Sports, and Xenith, among others.
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