United States sports protective equipment market: $2.1 billion industry forecast by 2018
Protective Sports Equipment: The North American Market - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-21 09:08:03
The United States sports protective equipment market is expected to reach nearly $1.9 billion in 2013. The industry is forecast to grow to $2.1 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 2.6% for the period 2013 to 2018.
The National Football League currently faces law suits by over 4,000 of its former players on the grounds that it did not do enough to inform them about the dangers of concussion. The cases, which are still in the early stages of being heard, could result in potentially large damages if the courts rule in the plaintiffs´ favor. In fact, the number of boys playing youth and high school football has declined to the point where college and professional teams have expressed concerns over a shrinking pool of young talent in the game.
While the risks of playing football are more widely known due to its popularity, every other sport must contend with safety risks of its own. Cycling, football, snow sports, ice hockey and roller sports as the largest markets for protective equipment in the U.S. Together these five sports accounted for more than 81% of the market in 2012, a share that is expected to grow to over 82% by 2018.
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