Sports Protective Equipment Market to Rise at CAGR of 5.2% during Forecast Period 2022-2031, notes TMR Study

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Aug 18, 2022, 21:30 ET

Rising consumer spending on sports protective equipment is likely to drive the global market for sports protective equipment
More individuals are participating in different sporting activities, which is projected to increase demand in the global market

WILMINGTON, Del., Aug. 19, 2022 /PRNewswire/ -- In 2021, the value of global protective sports equipment market size stood at US$ 8.18 Bn. The global market is anticipated to rise at a CAGR of 5.2% during the forecast period, from 2022 to 2031. The value of global sports protective equipment market is estimated to touch US$ 13.35 Bn by 2031. The market for sports protective equipment is being driven by an increase in involvement in outdoor sports activities. With more people participating in sports, there is a rising need for protective gear such boxing equipment, helmets, and footwear, which is expected to offer growth prospects for the sports equipment suppliers.

Due to the rise in sports-related injuries, individuals are also becoming more knowledgeable about the usage of protective gear for sports. This is anticipated to increase consumer demand for sports protective gear. In order to bring novel items to the market, sports safety equipment manufacturers are constantly investing on research and development projects. Since there are more sports professionals in Asia Pacific than in any other region, there is likely to be a higher demand for sports equipment substances in the region.

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Key Findings of Market Report

A rising number of individuals are participating in various sporting activities. In addition to keeping one healthy and fit, sports contribute to enhanced life satisfaction. Rise in engagement in different sporting activities is also being attributed to better understanding of health concerns and stress management. As a result, consumers are spending more on sports protective gear, which is likely to drive the global market.
Various organisations and regulatory bodies, such as the American National Standards Institute (ANSI) and the International Organization for Standardization (ISO), have set rules governing the utilization of sports protective equipment. This is anticipated to raise global demand for protective sports equipment.
The demand for sports protective equipment is rising due to better understanding about the usage of different sports equipment. An increase in the incidence of injuries amongst players of different ages is also expected to drive safety equipment for sport. Sports safety equipment has been quite popular amongst both women and men.
Given the rise in sports activities in many countries in the Asia Pacific region, including China and India, the regional market is anticipated to expand at a high CAGR during the forecast timeline. The Asia Pacific market for is also expected to be driven by the region's high participation in professional sports.

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Global Sports Protective Equipment Market: Growth Drivers

Based on product type, the demand for upper body protection equipment is anticipated to increase in the forthcoming years. The category is likely to expand as more people are taking part in fitness training, extreme sports, competitive sports, as well as different strength programs.
Based on application, the mountaineering and rock climbing categories are anticipated to dominate the global market during the forecast timeline. This is owing to the fact that mountaineering as well as small- and large-scale treks are becoming more popular worldwide.

Global Sports Protective Equipment Market: Key Players

Some of the key market players are

Mueller Sports Medicine, Inc.
Amer Sports Corporation
Grays of Cambridge (International) Ltd
ASICS Corporation
Under Armour Inc.
Nike, Inc.

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Global Sports Protective Equipment Market: Segmentation

Product Type

Head Protection
Upper Body Protection
Lower Body Protection
Footwear
Others

Application

Water Sports and Racing
Ball Games
Mountaineering and Rock Climbing
Others

End User

Professional
Non Professional

Price

Low
Medium
High

Distribution Channel

Online
Offline

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