The global sports protective equipment market is anticipated to grow at a CAGR of 6% during the forecast period 2021 to 2030 and predicted to reach US$ 14 billion by 2030.
The growing demand for sports protective equipment is expected to bolster the growth of the global sports protective equipment market during the forecast period.
Sports protective equipment are uniquely designed for certain sports to prevent injuries. Sports protective equipment plays an integral role in ensuring the safety of an athlete who is participating in some sport. The sports industry is expanding rapidly across the world, as a large number of people are increasingly taking up sports and other recreational activities. The global sports industry, today, is an all-encompassing business, which covers everything from sporting goods and apparel to broadcasting rights, sponsorships, merchandising, and gate revenues.
The demand for sports protective equipment is increasing due to strict regulations by sports organizations regarding the use of sports protective equipment. Regulatory agencies such as the International Organization for Standardization (ISO), American National Standards Institute (ANSI), Consumer Products Safety Commission (CPSC), and National Operating Committee on Standards for Athletic Equipment (NOCSAE) have tightened their regulations pertaining to the use of sports protective equipment.
Increasing Sports Safety Rules Fueling Industry Growth
Regulations governing younger players are stricter, thereby leading to the demand for sports protective equipment. As per standard guidelines, if players are not wearing proper equipment, they are removed from competition. Rule modifications and strict adherence to rules are expected to minimize the frequency of injuries. According to a report published by National SAFE KIDS Campaign and the American Academy of Pediatrics, more than 3.5 million children in the U.S. ages 14 and younger get hurt annually playing sports or participating in recreational activities. Sports and recreational activities contribute to approximately 21% of all traumatic brain injuries among American children.
Most sports-related injuries occur due to proper sports protective equipment not being used. As such, sports agencies and associations are becoming stricter regarding the usage of protective sports equipment, so as to minimize causalities.
However, the strict rules and regulation associated with various sports varies as per regions and depends on sport associations. Hence, the impact of the driver is anticipated to be medium during the forecast period.
In terms of product type, in the sports protective equipment market, the head protection segment accounted for a prominent market share, and this is anticipated to increase even more during the forecast period. The popularity of competitive sports, extreme sports, and fitness training, including strength programs, is increasing at an exponential rate. Extreme sports such as motor racing, dirt biking, mountain climbing, and water sports such as the ISA World Masters Surfing Championship and Freestyle Kayak Championships are examples of some of the popular extreme sports events that are gaining huge popularity among the population, worldwide.
|Market Size||US$ 14 billion by 2030|
|Growth Rate||CAGR of 6% From 2021 to 2030|
|Segments Covered||Product, Appliocation, Distribution Channel, Region|
|Companies Mentioned||Adidas AG, Amer Sports Corporation, ASICS Corporation, Grays of Cambridge Ltd., McDavid Inc., Mueller Sports Medicine, Inc., Nike Inc., Puma SE|
The sports protective equipment market in North America was valued at US$ 3.50 Bn in 2020, and is anticipated to rise at a CAGR of 5.7% from 2021 to 2030. The introduction of many national and international leagues in various sports is leading to the massive increase in sports participation, which demands proper sports protective equipment, indirectly projecting new requirements for these equipment.
Water sports and racing are highly popular among the North American population. Water sports such as surfing and snorkelling are fairly popular in North America, owing to its geographical conditions, surrounded by multiple beaches. Additionally, racing sports such as drag race, dirt racing, and endurance championships are some of the well-known motorsports in North America where sports protective equipment plays a major role.
The sport protective equipment market in South America is expected to witness steady growth in the coming years. The head protection equipment segment acquired a prominent share of 36%, in the sports protective equipment market in 2020, and is anticipated to grow further during the forecast period. This is due to the increasing number of participants in sports such as baseball, boxing, rugby, motorsports, etc. where head and upper body protection equipment plays a dominant role. The head protective equipment segment is closely followed by the upper body protection segment in the sports protective equipment market.
Key players operating in the global sports protective equipment market include Adidas AG, Amer Sports Corporation, ASICS Corporation, Grays of Cambridge Ltd., McDavid Inc., Mueller Sports Medicine, Inc., Nike Inc., Puma SE, Under Armour Inc., and Xenith LLC.
By Product Type
By Distribution Channel
The Sports protective equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Sports protective equipment market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Sports protective equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Sports protective equipment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Sports protective equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Sports protective equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Sports protective equipment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Sports protective equipment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Sports protective equipment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Sports protective equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Sports protective equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Sports protective equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Sports protective equipment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Sports protective equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Sports protective equipment market. These factors have benefited the growth of the global market for Sports protective equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Sports protective equipment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Sports protective equipment are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: