The changing dynamics in Protective Sports Equipment Market with covid-19 impact assessment
June 03, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Protective Sports Equipment Market.
It was estimated prior to this unanticipated outbreak that the Protective Sports Equipment Market will grow at 5.4% CAGR. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Protective Sports Equipment Market Segment Analysis:
Based on the product type, the market is segmented as helmet & other head gears; protective eyewear; face protection & mouthguards; and pads, guards, chest protectors, and gloves. Among these, the pads, guards, chest protectors, and gloves dominated the market and are also expected to witness the highest growth during the forecast period, owing to their applications in sports, such as ice hockey, cricket, football, and baseball along with initiatives from sport associations to develop and mandate these basic protective gears.
Based on the area of protection, the market is segmented as head & face, trunk & thorax, upper extremity, and lower extremity protective equipment. The head & face segment is expected to remain the dominant segment during the forecast period, owing to requirements of particular sports to avoid fatal injury, such as in rugby, cricket, sky & snowboard, and cycling.
Based on the distribution channel, the market has been segmented as specialty retail stores, multi-retail stores, online stores and others. Specialty retail stores dominated the protective sports equipment market as they are the traditional channels for buying sporting goods and equipment. However, online retail stores and others are expected to register higher growths during the forecast period, owing to high infiltration of smartphones and tablets, and the ease of buying various protective sports equipment through this distribution channel.
In terms of regions, North America is expected to remain the dominant market during the forecast period, owing to high per capita income along with the commonness of sports culture in the region. Asia-Pacific is expected to witness the highest growth during the forecast period, owing to increasing disposable income of consumers, rising awareness towards health & safety, and increasing participation of women in sporting events.
Some of the major players in the protective sports equipment market are Amer Sports Oyj; Adidas AG; Nike, Inc.; Under Armour, Inc., Puma SE; Asics Corporation; Vista Outdoor Operations LLC; BRG Sports; Xenith; and Shock Doctor, Inc.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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