Sport Protection Equipment Market to Experience Significant Growth during the Forecast Period, 2017-2022

FactMR has actively published a new research study titled “Sport Protection Equipment Market to Experience Significant Growth during the Forecast Period, 2017-2022 | Key Players are Adidas AG, Shock Doctor Inc., NIKE Inc., Decathlon S.A., etc” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the sports protective equipment market during the period from 2017-2022. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global sports protective equipment market is expected to showcase impressive growth at 2.3% CAGR during the period until 2022.

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The use of protective gear in sports has increased with the rise in sports-related injuries. Manufacturers and designers are focusing on developing smart sport protection equipment using wireless sensor technology and new foam technology to improve shock absorption and impact protection in various sport protection equipment. The report, compiled by FactMR, provides in-depth analysis of the global sport protection equipment market for the forecast period 2017-2022, and offers key insights about future market direction.

Concerns over rising number and severity of sports injuries has led to higher awareness on the need to use protective equipment. While regulations have helped in adoption of protective gear at national and international level, there is a long way to go before sports protective gear becomes the norm rather than the exception at amateur levels.

Sports protection equipment has gone the digital way, with manufacturers focusing on developing revolutionary sport protective equipment using sensors and materials that can provide better protection. Shock absorption and impact protection equipment are being developed by using new foam technology to protect the participant from high-speed impact. Majorly used by the professional sports person, sport protection equipment includes helmets, pads, protective eyewear, mouth guards and face protection, and gloves. Use of sport protection equipment lowers the magnitude of injury caused during sport-related impacts, and also prevents the wearer from any further damage. Sport protection equipment are designed and tested as per the safety standards & requirement of various sports.

According to a latest report by FactMR, the global sport protection equipment market is anticipated to witness slow growth, reaching US$ 9,500 Mn value by the end of 2022. Various factors are hampering the growth of the market such as high cost of equipment, increasing competition and lack of knowledge regarding the use of various sport protection equipment.

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Protective footwear is expected to remain the top-selling products in the global market during 2017-2022. Sales of protective footwear are anticipated to bring in nearly US$ 3,250 Mn revenues by the end of 2022. The report also projects North America as a leading region in the sales of protective footwear, revenues from which will procure considerable share in overall protective footwear market through 2022.

Gaining maximum revenue share in the sport protection equipment, independent sports outlet emerge as one of the most lucrative sales channels. By the end of 2017, independent sports outlets are projected to gain nearly two-fifth of global revenue share. Although global sales of sport protection equipment through franchised sports outlets is anticipated to create an incremental opportunity of over US$ 150 Mn between 2017 and 2022.

Compared to institutional buying of sport protection equipment, individual buyers will form a strong customer base in the global market. Towards the end of 2022, sales of sport protection equipment through individual buyers is expected to bring in nearly US$ 6,860 Mn in global revenues. Emergence of sports as a popular career option is also fueling the adoption of sport protection equipment, particularly among individuals. Meanwhile, institutional purchasing of sport protection equipment is witnessing a boost from rising investment influx directed by governments across several regions.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global sport protection equipment market through 2022, which include Under Armour Inc., ASICS Corporation, Adidas AG, Shock Doctor Inc., Vista Outdoor, Inc., Mizuno Corp., PUMA SE, Acushnet Holdings Corp, Amer Sports Corporation, BRG Sports, Inc., NIKE, Inc., and Decathlon S.A.

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