Transparency Market Research delivers key insights on the global sports protective equipment market. In terms of revenue, the global sports protective equipment market is estimated to expand at a CAGR of ~ 5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the sports protective equipment market report.
Sports protective equipment are uniquely designed for certain sports to prevent injuries. Sports protective equipment plays an integral role in ensuring the safety of an athlete who is participating in some sport. The sports industry is expanding rapidly across the world, as a large number of people are increasingly taking up sports and other recreational activities. The global sports industry, today, is an all-encompassing business, which covers everything from sporting goods and apparel to broadcasting rights, sponsorships, merchandising, and gate revenues.
In this sports protective equipment market report, TMR predicts that, the head protection segment is expected to have a prominent market share (~35%) in the global sports protective equipment market, which was valued at US$ 8.57 Bn in 2018, and is expected to expand at a CAGR of ~ 5% from 2019 to 2027. Head protection and upper body protection equipment acquired a substantial share of the sports protective equipment market, owing to the dominance of sports such as rugby, baseball, boxing, and ice hockey, where upper body protection and head protection equipment play a major role.
In terms of product type, in the sports protective equipment market, the head protection segment accounted for a prominent market share, and this is anticipated to increase even more during the forecast period. The popularity of competitive sports, extreme sports, and fitness training, including strength programs, is increasing at an exponential rate. Extreme sports such as motor racing, dirt biking, mountain climbing, and water sports such as the ISA World Masters Surfing Championship and Freestyle Kayak Championships are examples of some of the popular extreme sports events that are gaining huge popularity among the population, worldwide.
The demand for sports protective equipment is anticipated to increase during the forecast period, with the growing participation of people in various sports. With higher participation across various sports, the impact of the driver is anticipated to be high, thereby, proliferating the demand for head protection equipment. Most sports-related injuries occur due to lack of usage of proper sports protective equipment. Hence, sports agencies and associations are becoming stricter in terms of the usage of protective sports equipment to minimize injuries.
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It will be appropriate to state that, growth in the sports protective equipment market rests on technology. Be it big brands or start-ups making their way into the sports protective equipment market, everyone strongly believes that, innovation is the key to turn the tide in a market with faint discrimination in products.
As we speak, companies across the globe are developing products that will redefine the space of sports protective equipment in the future. Famous NFL player Shawn Springs is developing a next-generation helmet based on the cloud crash technology. This claims to save players from the impact of a fall or crash in football. What’s important is that, the product has been tested for different angles and speed.
Another product under R&D is a shock-absorbing gear, which will prevent players from suffering serious injuries in rugby. Then, there is a sensor that will monitor the health of race horses. This will help authorities understand if the horse is being overworked, and thus, warn the rider, asking him/her to slow down. This will prevent falls and collisions.
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While we speak of sensors to monitor equine health, smart wearables have already their made way into the sports protective equipment market. Physiotherapists and coaches have started recognizing the importance of data that reflects players’ health on the field. Thus, they are able to custom-design training programs for each players working on specific areas of fitness.