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.
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