Baseball Equipment Market: Growing Demand to Impact Revenue Share during 2017-2026
Approximately US$ 1,200 Mn worth of baseball equipment are anticipated to be sold across the globe by 2026-end.
[UKPRwire, Fri Apr 19 2019] Growth of the global baseball equipment market is anticipated to remain affected by innovations in bats & gloves, developments in tracking technology, and introduction of new tournaments. In addition, various development programs being undertaken by MLB for increasing the participation rate in the sport will create demand for baseball equipment in the upcoming years. The report, compiled by Fact.MR, provides in-depth analysis of the global baseball equipment market for the forecast period 2017-2026, and offers key insights about future market direction.
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In the United States, according to a survey by The Harris Poll, the second most popular sport is Major Leagues Baseball. Popularity of baseball is further gaining significant momentum in Europe, with an exceptional performance of the Netherlands in World Baseball Classic League, 2013. Introduction of several new baseball tournaments is an emerging trend fuelling participation in the sport. These tournaments aim at enhancing popularity of baseball worldwide, thereby creating high demand for relevant equipment. Over the past few years, several innovations have been witnessed in baseball equipment, particularly in baseball gloves and bats. A great example of this is the introduction of heavier balanced baseball bats incorporated with an inner rigid hard aluminum barrel along with a compressible polymer sleeve. These bats enhance the player’s performance by enabling more contact of barrel area with the ball, improving ball rotation, and increasing size of crosswire full energy transfer.
A recently published report of FactMR envisages the global market for baseball equipment to register a modest CAGR between the period 2017 and 2026. Baseball equipment sales across the globe are expected to account for roughly US$ 1,200 Mn revenues by 2026-end.
North America to Dominate Global Baseball Equipment Market
In North America, participation in baseball has been surging significantly in light of option available to youth for selecting baseball as a professional career. A large number of individuals have depicted high interest in baseball since the recent past in the region, which in turn has driven demand for baseball equipment. North America has been slated by the report to remain the fast-expanding as well as the largest market for baseball equipment.
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Among products available in the baseball equipment market, bat is expected to retain its dominance with a revenue share of approximately 66% during 2017 and 2026. The rise in wages of baseball players in tandem with surging popularity of the sport has been driving demand for baseball bat. Baseball bats manufactured by using wood are expected to remain preferred among players.
A few major vendors hold dominance in the global market for baseball equipment. Albeit there are only few leading vendors, nature of the market is highly fragmented on the back of the occupancy of many local and regional vendors. Competition among players in the global baseball equipment market is likely to intensify, which in turn will drive manufacturers to introduce advanced products in the foreseeable future. Key players sustaining expansion of the market, as identified by the report, include Easton, Mizuno, Rawlings (Jarden), Wilson (Amer Sports), Louisville Slugger, Nokona, Zett, SSK, Under Armour, and Nike.
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