Sports Protective Equipment Market to Reach $10.17 Bn, Globally, by 2026, at 3.9% CAGR: Allied Market Research
Pre-eminence of national & international sports event, increase in participation in sports activities, rise in consumers spending on sports protective equipment, growing consumer awareness regarding health & fitness, and surge in consumer awareness regarding health & fitness fuel the growth of the global sports protective equipment market.
PORTLAND, Oregon, July 30, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Sports Protective Equipment Market by Product Type (Helmets & Other Headgear, Pads, Guards, Chest Protectors & Gloves, Protective Eyewear, and Face Protection & Mouth Guards), Area of Protection (Head & Face, Trunk & Thorax, Upper Extremity, and Lower Extremity), and Distribution Channel (Specialty Retail Stores, Multi-Retail Stores, and Online & Others): Global Opportunity Analysis and Industry Forecasts, 2019–2026." The report provides an in-depth analysis of the drivers & opportunities, changing market trends, competitive market scenario, and market size & estimations. As per the report, the global sports protective equipment market was estimated at $7.78 billion in 2019 and is expected to reach $10.17 billion by 2026, registering a CAGR of 3.9% during 2019–2026.
Prominence of national & international sports event, rise in participation in sports activities, increase in consumers spending on sports protective equipment, growing consumer awareness regarding health & fitness, and mounting consumer awareness regarding health & fitness fuel the growth of the global sports protective equipment market. On the other hand, availability of Low-Priced counterfeit products and high prices of sports protective equipment check the growth to certain extent. Nevertheless, rise in trend of online retail and increase in disposable income in emerging economies are expected to create lucrative opportunities for the frontrunners in the market.
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The head and face protective equipment segment generated the major share in 2019–2026-
Based on product type, the head and face protective equipment segment accounted for more than half of the total market share and is expected to dominate throughout 2019–2026. Prevalence of cycling trend in Europe and mandated requirement for helmets in most of the sports have propelled the growth of the market. On the other hand, the lower extremity protective equipment segment is projected to grow at the fastest CAGR of 5.1% till 2026.
The pads, guards, chest protectors and gloves segment is to rule the roost-
Based on product type, the pads, guards, chest protectors and gloves segment garnered the highest market share, contributing to more than two-fifths of the total market revenue. This growth is attributed to its extensive penetration in a number of sports. The same segment is also predicted to cite the fastest CAGR of 4.3% during the estimated period.
North America to maintain its dominance during 2019–2026-
Based on geography, North America contributed to more than one-third of the total market share and is anticipated to lead the trail throughout the forecast period. Rise in popularity of sports events in high school, colleges, and other national & international levels in the region has driven the growth of the segment.
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Key players in the industry-
The key market players analyzed in the report include Nike Inc., Xenith,Under Armour Inc., Puma SE, Vista Outdoor, Amer Sports Corporation, Shock Doctor (Bregal Partners), Asics Corporation, BRG Sports, and Adidas Ag. Adhering to a number of high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.
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