Global Sports Protective Equipment Market Worth US$ 13 billion by 2031, Expanding at a 5% CAGR from 2023 to 2031: TMR Report
The growth of the sports protective equipment market is anticipated to be driven by an increase in sports participation in the near future
Wilmington, Delaware, United States, Aug. 11, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global market for sports protective equipment was estimated to have garnered a global market valuation of around US$ 8.7 billion in 2022. The market is anticipated to grow with a steady 5.2% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 13.7 billion.
Athletes wear sports protective equipment to guard against accidents that could happen during practice or performance. Helmets, chest, face guards, and arm guards, shin guards, as well as padding for certain body parts are some examples of this gear. Athletes may occasionally use goggles, mouth guards, and other protective gear to shield their eyes or teeth from harm.
Sports protective equipment is usually intended to lessen the effects of any forces that are encountered when engaging in physical activity. Athletes have the ability to compete at their highest level while the chance of major injury is reduced. Protective equipment can provide athletes a feeling of ease and confidence, allowing them to concentrate on their performance instead of worrying about the possible injuries.
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Key Findings of Market Report
- In the near future, a number of government efforts, including tax exemptions, subsidies, and marketing campaigns, are anticipated to positively affect the growth of the sports protective equipment market.
- From 2023 to 2031, North America is anticipated to hold the greatest share.
- Asia Pacific is expected to have the industry’s quickest growth throughout the projected period.
Market Trends For Sports Protective Equipment
- Various athletic activities are being promoted by governments all around the world. They are raising people’s awareness of the value of sports and physical activity. In order to prevent injuries, a number of organizations, including the International Olympic Committee (IOC) as well as the World Anti-Doping Agency (WADA), are advocating the usage of athletic protective equipment.
- Physical and dangerous sports injuries can be lethal. The majority of sports injuries may be avoided by using the right athletic safety gear. Children in the United States suffer from traumatic brain injuries at a rate of roughly 21% despite the rarity of sports-related deaths. Sports injuries can be less severe and occur less frequently with the use of protective gear. In order to lower their risk of injury, athletes and other active individuals are depending more and more on such clothing and equipment.
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Global Sports Protective Equipment Regional Market Outlook
- From 2023 to 2031, North America is anticipated to hold the majority of the share. The market dynamics of the area are being boosted by the expansion of the impact of sports teams, leagues, and players as well as the growth in sports-related injuries. In several sports leagues, including hockey, football, and rugby, the usage of protective equipment is now required.
- Asia Pacific is expected to have a swift growth throughout the projected period. The expansion of sports activities and investments in the sports sector in Asia Pacific are driving market growth. The development in popularity of sports like soccer, cricket, as well as rugby as well as an increase in disposable income are also contributing to the region’s sports protective equipment industry statistics.
Global Sports Protective Equipment Market: Key Players
To grow their market share for sports protective equipment, vendors are concentrating on introducing new goods and spending money on marketing campaigns. The sports protective equipment market is highly competitive, with companies like 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 among others.
Some developments by the key players in the global market for sports protective equipment are:
- Puma unveiled SEASONS in September 2022, a new line of outdoor clothing and footwear for the purpose of trail running as well as other outdoor pursuits.
- The Metaspeed Sky and Metaspeed Edge high-performance running shoes were introduced by ASICS in April 2021 during the business’ Innovation Summit 2021. The human-centric running shoes are specifically made to fit both stride and cadence types of running.
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Global Sports Protective Equipment Market Segmentation
- Product Type
- Head Protection
- Face Protection
- Upper Extremities Protection
- Lower Extremities Protection
- Others (Eye and Ear Protection, etc.)
- Distribution Channel
- E-commerce Websites
- Company-owned Websites
- Hypermarkets / Supermarkets
- Specialty Stores
- Others (Retail Stores, etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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