The Global Basketball Equipment Market is projected to be US$ 34.7 Mn in 2018 to reach US$ XX Mn by 2028 at a CAGR of 0.9%.
Market.us announces publication of its most recently generated research report titled, “Global Basketball Equipment Market by Portability (In-ground, Portable), By Product Type (Backboards, Other Product Types), and by Region – Forecast to 2028.”, which offers a holistic view of the global Basketball Equipment market through systematic segmentation that covers every aspect of the target market.
Basketball was invented during 1991-92 at Springfield College Massachusetts by Dr James A. Naismith. It is a sport played by two competitive teams, with each team made of five players. Teams compete with each other to collect points through shooting the basketball in the baskets. Basketball equipment is the equipment used while playing basketball. Equipment such as backstop, backboard, hoop, basket goal, scoreboard, shot clock, basket accessories and basket training equipment are considered as basketball equipment.
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The global basketball equipment market is expected to grow at a steady rate over the forecast period. Over past few years, there has been significant growth in demand for sports in several regions, owing to the increasing influence of internet and media as a means of promoting health and fitness, which has resulted in the widespread growth of sports events. The demand is backed by the growing interest of youngsters and teenagers. Demand for basketball events is also influenced by rising consumer spending power, which is expected to support the growth of the basketball equipment market. However, regulations imposed by national/international basketball federations on the selection of equipment could limit the growth of the market. Moreover, demand from the non-conventional sector, such as streetball could be a novel opportunity for the target market in the near future.
Global Basketball Equipment Market Revenue (US$ Mn), 2018–2028
The increasing number of sports events, particularly basketball events across the globe is a key factor propelling the growth of the global basketball equipment market. Also, the growing popularity of basketball among both children and adults is significantly increasing demand for basketball equipment over the forecast period. Healthy growth in spending power and increasing disposable income of customers is expected to support the growth of the market globally
However, International basketball association such as NBA, FIBA, etc. have certain standards for selection of basketball equipment, which the majority of manufacturers may not comply with. This limits these manufacturers towards directing sales towards these important segments, which is a key factor expected to challenge the global basketball equipment market.
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The global basketball equipment market is segmented on the basis on portability, product type and region. On the basis of portability, the market is segmented into In-ground, portable. The In-ground segment accounts for the majority share in the global basketball equipment market. On the basis of product type, the market is segmented into backboards, other product types. The backboards account for a majority share in the global basketball equipment market.
Global Basketball Equipment Market by Portability, 2018
On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. North America accounts for the majority share in the global Basketball Equipment market, owing to increasing adoption of basketball in schools and institutes. APAC is expected to register the highest growth rate over the forecast period. Countries and regions such as China, Japan, South America and MEA are expected to register stable growth over the forecast period.
The research report on the global Basketball Equipment market includes profiles of some of the major companies such as Varsity Brands, Inc., Bison, Inc., Draper, Inc., AALCO, Gared Holdings, LLC, Goalsetter Systems, Inc., Lifetime Products, Inc, First Team Sports Inc, Porter Athletic and Other Prominent Players
Key Market Segments
- Other Product Types
Key Market Players included in the report:
- Varsity Brands Inc.
- Bison Inc.
- Draper Inc.
- Gared Holdings
- Goalsetter Systems Inc.
- Lifetime Products Inc
- First Team Sports Inc
- Porter Athletic and Other Prominent Players
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