Baseball equipment: Key market research findings
- The Americas dominate the market geographically
- Baseball bats account for a majority of the market’s revenue
- Key vendors – Adidas, Amer Sports, JardenMizuno, Nike, and Performance Sports Group
Technavio’s market research analysts predict the global baseball equipment market to grow at a CAGR of around 4% between 2016 and 2020. The demand for baseball equipment in the market is spurred primarily by the globalization of the sport. The globalization of baseball has created successful markets for baseball equipment in Asian countries like Japan, South Korea, and Taiwan and Italy and the Netherlands in the Europe. During 2015, the Americas dominated the global baseball equipment market by accounting for over 58% of the overall market space. The increase in salaries of Major League Baseball (MLB) players and the subsequent rise in popularity of the sport in the US are factors that will propel growth in the baseball equipment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the baseball equipment segments based on the product.
“Recently, vendors in the market have started focusing greatly on product innovation. Vendors are attempting to create product differentiation and gain market shares by the introduction of unique features. The Max Core by Mizuno is one such product. This baseball bat consists of an inner, hard, rigid aluminum barrel and a compressible polymer sleeve, making it a heavier balanced bat. Such innovations are a trend that will continue through the forecast period,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the baseball bat segment is expected to continue its market dominance by accounting for almost 28% of the market’s overall revenue. Baseball bats come in four different types based on the material used – wood, aluminum, composite, and hybrid. Wooden baseball bats remain the most commonly used type even though different kinds of bats are used across different leagues. The growth of the global baseball bat market can be attributed to the increasing number of players from across the globe who are joining the MLB.
Adidas, Amer Sports, JardenMizuno, Nike, and Performance Sports Group are the key vendors in the market. A few leading vendors dominate the global baseball equipment market. Despite the presence of a few vendors, the market is highly fragmented due to the presence of several local vendors. The competition is expected to intensify, which will lead to the introduction of many advanced products in the market over the next four years.
A more detailed analysis is available in the Technavio report, Global Baseball Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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