North America is Largest Market Share in Global Sports Protective Equipment Market in 2016


Posted June 20, 2017 by snehakumar

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.

 
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.
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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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Issued By Sneha
Country United States
Categories Business , Marketing , Sports
Tags consumer goods , sport protective equipment
Last Updated June 20, 2017