Pune, India, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories is expected to propel the market course in a growing direction. Shifting consumer preferences toward branded products is expected to facilitate market development. Fortune Business Insights™ shares this information in its report titled “Cricket Equipment Market, 2022-2029.”
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Cricket Equipment Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 6.05% |
| 2029 Value Projection | USD 897.02 Million |
| Base Year | 2021 |
| Cricket Equipment Market Size in 2021 | USD 564.43 Million |
| Historical Data | 2018-2020 |
| No. of Pages | 178 |
| Segments Covered | By Product Type, By End-User, By Region |
| Cricket Equipment Market Growth Drivers | Rising Occurrences of Cricket Leagues Globally to Favor Market Expansion |
| Growing Spending by Millennials on Sports Equipment to Expand Product Demand |
Fortune Business Insights™ lists out all the cricket equipment market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Kookaburra Sport Pty Ltd (Australia)
- Grays International (K.)
- Sommers (Australia)
- KIPPAX WILLOW LIMITED COMPANY (U.K.)
- Bradbury (Australia)
- Blue Tongue Sports (Australia)
- Adidas AG (Germany)
- Stag Cricket (K.)
- Salix Cricket Bat Co. Ltd (K.)
- Blankbats (K.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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Drivers and Restraints
Increasing Occurrences of Cricket Leagues to Drive Market Development
Increasing occurrence of cricket leagues in various countries such as India, England, and Australia is anticipated to drive the cricket equipment market growth. Various high-profile and spectacular T20 tournaments such as Big Bash, IPL, and T20 blast are hosted worldwide, making them popular spectator events. Development of affordable sports equipment is expected to drive market growth. In December, 2021, under the Khelo India scheme, 62 sports infrastructure projects in different categories received millions in funding from the Government of India in the North East region. Growing spending by millennials on sports equipment is also set to push market growth.
However, the increasing cost of raw materials is projected to obstruct market growth.
Segments
Protective Gear Segment to Dictate as it Offers Great Safety to Players
On the basis of the product type, the market is divided into bat, ball, protective gear, and others. The protective gear segment is anticipated to dominate as it offers great safety to the players. The equipment should be of good quality and should be used properly. The gear includes a helmet, sunglasses or protective eyewear, leg pads, and gloves.
Men to Lead the Segment as Cricket Equipment is Widely Used by Them
Based on end-user, the market is bifurcated into men and women. The men segment is expected to have a major part as cricket equipment is widely used by men. The segment also accounted for 75.49% in 2021 on the basis of revenue. It is also set to have a CAGR of 5.94% over the forecast period.
Regional Insights
Asia Pacific to Lead Market Share Due to the Presence of Various Players
Asia Pacific is expected to govern the cricket equipment market share due to the presence of various players in various countries such as Australia, India, Pakistan, and New Zealand. The region reached a valuation of USD 180.61 million in 2021 due to demand for cricket bats & equipment with greater flexibility. The continuous emergence of small-scale manufacturers to offer products at reasonable rates is largely driving the consumption of cricket equipment in Asian countries such as Australia, China, India, Japan, and others.
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Competitive Landscape
Focus on Upgrade Product Portfolio by Key Players to Progress Market Course
Various players of the market have been focusing on providing flexible and efficient cricket game equipment and accessories, appropriate for all types of players. Sommers is focused on offering free design services for strengthening its customer base. This will help the company to implement things sensibly while delivering value to the customers.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Potential Opportunities due to COVID-19 Pandemic
- Global Cricket Equipment Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Bat
- Ball
- Protective Gear
- Others
- Market Analysis, Insights and Forecast – By End-user
- Men
- Women
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued…!
Key Industry Development
- Kippax Willow Limited Company is putting efforts into offering after-sales services in case of any disputes or defects. This is set to drive the product segments, a renewed focus on customer value to boost sales, and increased usage of innovative sales tools.
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