Press release
Sports Protective Gear Market 2024: Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Top Players
The sports protective gear market size has grown strongly in recent years. It will grow from $3.99 billion in 2023 to $4.31 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to awareness of sports-related injuries, growth of organized sports leagues, rise in extreme and adventure sports, influence of professional athletes.The sports protective gear market size is expected to see strong growth in the next few years. It will grow to $5.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to rising youth sports participation, sustainable and eco-friendly designs, expansion of action sports culture, rise of specialized protective gear, increasing disposable income, innovations in helmet design. Major trends in the forecast period include technological advancements in material design, customization and personalization, integration of smart technologies, collaborations with athletes.
Market Overview -
Sports protective gear refers to protective equipment used by athletes and sportspersons to protect their fingers, knees, waists, ankles, and wrists. Sports protective gear increases joint stability, safeguards joints and muscles during physical activity, and stops secondary injuries.
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Rising Sports Participation Amidst The Pandemic A Catalyst For The Surge In Sports Protective Gear Market
The increasing number of people participating in sports and recreational activities is expected to propel the growth of the sports protective gear market. The COVID-19 pandemic is one of the major reasons for the increased participation in sports and recreational activities. Due to the pandemic, people had ample free time to play sports or engage in recreational activities. Sports protective gears aids people in playing safely without any injury. For instance, in June 2022, according to the new state of the Industry Report from the Sports & Fitness Industry Association, a US-based non-profit organization that encourages engagement in sports and fitness and the health of the industry via strategic thinking, representation, study, and membership, sports, and fitness participation among Americans reached 232.6 million in 2021, the highest since the past 5 years. Therefore, the increasing number of people participating in sports and recreational activities is anticipated to fuel the sports protective gear market growth.
Competitive Landscape -
Major companies operating in the sports protective gear market report are Adidas AG, Amer Sports Oyj, ASICS Corp., Bauer Hockey LLC, BRG Sports Inc., Dunlop Sports Group Americas Inc., Mizuno Corporation, Nike Inc., Puma SE, Under Armour Inc., Vista Outdoor Inc., Yonex Co. Ltd., Kawasaki Heavy Industries Ltd., Rawlings Sporting Goods Compnay Inc., Riddell Sports Group Inc., Schutt Sports Group, Bell Sports Inc., Giro Sport Design Inc., K2 Sports LLC, Marker Volkl GmbH, Tecnica Group S.p.A., EssilorLuxottica SA, Zoggs International Ltd., DeMarini Sports Inc., Black Diamond Equipment Ltd., Head Sport GmbH, Helly Hansen AS, O'Neills Irish International Sports Company ltd.
Revolutionizing Safety The Surge Of Technological Innovations In Sports Protective Gear
Technological innovations are gaining popularity as a major trend in the sports protective gear market worldwide. Major market players are concentrating on implementing artificial intelligence in protective gear to aid sports professionals and athletes in several aspects of enhancing the spectator experience and helping to shape the look and feel of the sports enthusiasts. Such advancements enable key players to gain a competitive edge in the market. For instance, in August 2021, Venture Catalysts, an India-based company focusing on the commercialization of technologies through entrepreneurship, invested in Altor, another India-based startup that builds IoT and AI-enabled smart helmets. The smart helmet has a number of features that guarantee comfort while riding and road safety. When an accident occurs, the startup's patent-pending technology instantly recognizes it, notifies the rider's emergency contacts, and tracks the accident's position. Such investments are leading to the production of innovative sports protective gear products.
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Key Segments -
The sports protective gear market covered in this report is segmented -
1) By Type: Combine Sports Gear, Single Sports Protector
2) By Area Of Protecton: Head and Face, Trunk and Thorax, Upper Extremity, Lower Extremity
3) By Distribution Channel: Exclusive Stores, Multi-retail Stores, E-commerce Portals
4) By Application: Professionals, Hobbyist
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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