Global Basketball Equipment Market to Exhibit a Decent CAGR of 0.9% by 2028

“Global Basketball Equipment Market: Product Type, Portability, Growth Rates and Shares, and Forecast: 2019-2028” is a recently produced reports by research team at Market.US. Тhе glоbаl Ваѕkеtbаll Еquірmеnt mаrkеt іѕ рrојесtеd tо bе UЅ$ 34.7 Мn іn 2018 tо rеасh UЅ$ ХХ Мn bу 2028 аt а САGR оf 0.9%.

Basketball was invented during 1991-92 at Springfield College Massachusetts by Dr James A. Naismith.  It is a sport played by two competitive teams, with each team made of five players. Teams compete with each other to collect points through shooting the basketball in the baskets. Basketball equipment is the equipment used while playing basketball. Equipment such as backstop, backboard, hoop, basket goal, scoreboard, shot clock, basket accessories and basket training equipment are considered as basketball equipment.

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It is commonly known that the only equipment of importance in a game of basketball is the ball and the court. However, on a competitive level, this game would require the use of more equipment such as score sheets, clocks, scoreboards, whistle-operated stop-clock systems, alternating position arrows, and other miscellaneous accessories.

In recent years, due to the influence of social media and the internet the demand for sports and sporting goods/equipment has drastically increased which is subsequently leading to a surge in revenue growth of the basketball equipment market. Another factor that is contributing to the increase in the demand for basketball equipment is the rising awareness among individuals concerning the practice of healthier lifestyles through regular exercise.

Unfortunately, the strict rules and regulations regarding the selection of equipment that is imposed by basketball federations on both national and international levels may restrain the revenue growth of the basketball equipment market over the next 10 years. Another key factor that may hinder market growth are the various restrictions set by respective governing authorities concerning basketball equipment which many manufacturers may not agree to comply with.

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The demand for appropriate sporting equipment from the non-conventional sectors of basketball (streetball) is expected to positively contribute to the revenue growth of the global basketball equipment market.

The growing popularity of basketball among adults and children, as well as the steady increase in the number of basketball sporting events being held on a global-level is expected to increase the demand for quality basketball equipment in the years to come.

In terms of portability, the in-ground segment of the basketball equipment market accounted for the majority revenue share in 2019. And, with respect to product type, the backboards segment accounted for the majority revenue share of the global basketball equipment market.

The key players of the global basketball equipment market are – Vаrѕіtу Вrаndѕ Іnс., Віѕоn Іnс., Drареr Іnс., ААLСО, Gаrеd Ноldіngѕ LLС., Gоаlѕеttеr Ѕуѕtеmѕ Іnс., Lіfеtіmе Рrоduсtѕ Іnс, Fіrѕt Теаm Ѕроrtѕ Іnс., and Роrtеr Аthlеtіс among others.

North America accounted for a majority revenue share of the global basketball equipment market owing to the rising adoption of basketball in colleges and schools of the region. The market in the Asia Pacific, South America, as well as the MEA regions are expected to index steady revenue growth over the forecast period.

Кеу Маrkеt Ѕеgmеntѕ

Роrtаbіlіtу

Іn-Grоund
Роrtаblе

Рrоduсt Туре

Васkbоаrdѕ
Оthеr Рrоduсt Туреѕ

Кеу Маrkеt Рlауеrѕ іnсludеd іn thе rероrt:

Vаrѕіtу Вrаndѕ Іnс.
Віѕоn Іnс.
Drареr Іnс.
ААLСО
Gаrеd Ноldіngѕ
LLС
Gоаlѕеttеr Ѕуѕtеmѕ Іnс.
Lіfеtіmе Рrоduсtѕ Іnс
Fіrѕt Теаm Ѕроrtѕ Іnс
Роrtеr Аthlеtіс аnd Оthеr Рrоmіnеnt Рlауеrѕ

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source https://wiredrelease.com/press-release/global-basketball-equipment-market-to-exhibit-a-decent-cagr-of-0-9-by-2028-2021-07-12