Spikeball Equipment Market and Forecast
According to Fact.MR, the spikeball equipment market is expected to develop steadily between 2021 and 2031. While the market is likely to recover from the crisis in the mid-term of the projection period, demand is predicted to expand faster than in the past in the long run and will surpass valuation of US$ 90 Bn during similar time frame.
The increasing awareness among the people in the past few years for a healthy lifestyle has uplifted the demand for various sports across the world. They piqued the interest of the youth population in a variety of sports to boost the demand for spikeball equipment.
What are the Driving Factors for Spikeball Equipment Market?
Spikeball, also known as round net, is a popular sport that combines volleyball and four-square activities. It is played between two players. Summer camps, picnics, parties, and youth organizations are all great places to play spikeball. Spikeball has gained appeal as an outdoor activity as a result of this, boosting the relevance of the youth population in the sports business.
The spikeball equipment market is expanding as more powerful spikeball equipment is introduced, as well as increased demand for spikeball equipment for tournaments and outdoor activities.
Spikeball equipment is predicted to acquire importance as spikeball equipment manufacturers innovate their goods by delivering strong designs and playing nets with conveniently foldable legs, enhancing competitiveness in the sports market and positively impacting spikeball equipment demand.
Low-quality local vendors and counterfeit spikeball equipment are two major difficulties that could stymie the spikeball equipment market's growth.
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COVID-19 Impact on Spikeball Equipment Market?
Lockdown limitations imposed by the Covid-19 epidemic prevented people and equipment from moving around the globe. Overall production and income shrank as a result of halted manufacturing units around the world.
Pandemic has downturn the spikeball equipment sales due to limitation on outdoor activities. From both the demand and supply sides, a pandemic impact on the spikeball equipment can be noticed. The supply side is in a downturn as a result of rising government policies and a shortage of trained laborers, as well as a decline in outdoor activities and spikeball equipment expenditures.
The decline in consumer per-capita spending on sports items halted production up to a limit. E-commerce was severely affected during the COVID-19 causing dip in the market sales channel.
However, as countries around the world began to lift lockdowns after the third quarter of 2020, the spikeball equipment market began to see increased demand as a result of the people increasing awareness to stay fit.
Global Outlook of Spikeball Equipment Market
Spikeball equipment market covers six prominent regions which are North America, Latin America, Europe, East Asia, South Asia and the Middle East and Africa. Among them, Europe is the market leader due to heavy spending on sports activities as well as a large number of participation in sports activities.
Finland in Europe is having the highest time spend by people on sports activity where a man on average spend 37 minutes while female spend 30 minutes on sports or exercise daily. Similarly, in Germany, both genders spend the same amount of time on sport and exercise each day, with averages of 27 minutes.
Succeeding Europe, is North America and the Asia Pacific, due to increasing sports activities in schools and organizations. Spikeball equipment demand is expanding in North America and the Asia Pacific, owing to increased government support for sporting activities, which is likely to contribute to market growth.
Whereas the Latin American market experienced market growth after the 2016 Olympics in Brazil there has been an increase in population engagement, which could be one of the driving drivers for the spikeball equipment market in Latin America.
The Middle East and Africa has snatched up the smallest market, but it is expected to contribute a considerable portion of the worldwide market over the forecast period
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Germany and U.S Spikeball Equipment Market trends
Germany spikeball equipment demand is highest to higher penetration of fitness enthusiast and government spending in healthcare and sports sector of the country. Approximately more than US$ 62.1 Bn on sports and recreational activities in Europe.
While U.S spends more than US$ 33.3 Bn on athlete equipment. The increasing interest among people in outdoor sports has poised the growth of spikeball equipment market. The active target market of spikeball is the result of the target age group which is 16-30 years.
Who are the Key Manufacturers of Spikeball Equipment Market?
The key players of spikeball equipment market are
- Sports Basement
- UT Rec Sports
- Palos Sports
- Rogue Fitness
- Franklin Sports
- Spikeball Inc.
- Brewtown Recreation Spikeball
- Urban Sports LA
- Gopher Sport
- Super Tots Sports
- Bubble Soccer 2u
The spikeball equipment industry is always investing in product upgrades to emphasize their product range and maintain a strong position in the industry. The spikeball equipment industry is fragmented, resulting in fierce competition among newcomers. To maintain their market position, industry leaders are pursuing organic and inorganic expansion tactics such as mergers, acquisitions, and partnerships.
Manufacturers have come up with the upgraded version of spikeball game which is targeting on the nets instead of catching. This game is hitting like a storm due to a large number of the population who cannot catch the ball providing them better alternative.
An Adaptive Approach to Modern-day Research Needs
Spikeball Equipment Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Playing Net & Frame
- Inflating Needle
- Storage bag
- Independent Sports Outlet
- Franchised Sports Outlet
- Sports Variety Stores
- Sport Leagues
- Summer Camps
- Outdoor Recreational Activities
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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