6 Key Research Findings from Fact.MR’s Report on Baseball Equipment Market for Forecast Period 2017 - 2026
Published : 16 Feb 2018 Industry: Sports
According to a recent Fact.MR report, a modest CAGR has been projected for the global baseball equipment market in the forecast period, 2017 to 2026. Approximately US$ 1,200 Mn worth of baseball equipment are anticipated to be sold across the globe by 2026-end.
As baseball is a sport where even an inch of distinction in its equipment can have significant impacts, several clubs and players are eyeing upon grabbing these inches. An example of this is the advent of the combination of radar gun, stopwatch and video camera for facilitating evaluation of prospective players by recording and capturing their speed. This and several other tracking technologies being introduced are likely to propel growth of the baseball equipment market. Introduction of many new baseball tournaments has emerged as a key trend proliferating participation in this sport. The focus of these tournaments is directed toward enhancing popularity of the sport worldwide, in turn creating high demand for baseball equipment. Since the recent past, many innovations have been observed in baseball equipment, especially in gloves and bats. One of the best examples of this is introduction of a heavier balanced baseball bat incorporated with an interior rigid & hard aluminum barrel coupled with compressible polymer sleeve. Such bats will enhance performance of the players by enabling more contact between the barrel area and the ball, thereby improving ball rotation, and crosswire full energy transfer.
6 Key Projections on Future of Baseball Equipment Market for Forecast Period 2017-2026
- Based on buyer type, individual buyers are likely to remain dominant in the market, in terms of revenues and sales expansion. This buyer type segment is projected to hold more than 60% share of the market by 2026-end.
- Institutional buyers will also continue to account for a significant market revenue share. In contrast, promotional buyers will account for a sluggish revenue share of the market throughout the forecast period.
- Third party online channel is anticipated to record the highest CAGR in the market through 2026, based on sales channel. Revenues from this sales channel segment will remain the largest, followed by modern trade channels.
- Sales of baseball equipment in direct to customer online outlet and direct to customer brand outlet are likely to exhibit a parallel rise through 2026, with revenues from the latter projected to remain relatively larger than those from the former.
- Bat and gloves are anticipated to continue dominating the global baseball equipment market, with revenues collectively slated to exceed US$ 1,000 Mn by 2026-end. Sales of gloves will reflect a comparatively higher CAGR than sales of bat through 2026.
- The global market for baseball equipment will continue to be dominated by North America, followed by Europe. Asia-Pacific excluding Japan will also prevail as a lucrative market for baseball equipment.
A few well-established vendors dominate global market for baseball equipment currently. Albeit only few leading vendors exist in the market, nature of this market is still fragmented owing to the occupancy of many regional and local vendors. The competition among players is likely to intensify, thereby directing the focus of manufacturers toward introducing advanced baseball equipment in the foreseeable future. Prominent players underpinning expansion of the market include Mizuno, Easton, Rawlings (Jarden), Louisville Slugger, Wilson (Amer Sports), Nokona, Under Armour, Zett, SSK, and Nike.