Baseball equipment in the US: Key market research findings
- Attractive financial compensation drives market growth
- Bats account for a majority of the market revenue
- Key vendors – Adidas, Amer Sports, Newell Brands, Mizuno, Nike, and Performance Sports Group
Technavio’s market research analysts predict the baseball equipment market in the US to grow at a CAGR of almost 4% between 2016 and 2020. The growth of this market can be accredited to the attractive financial compensation of making baseball a lucrative career. The salaries of professional players, especially MLB players, has been increasing over the last few years. These increasing salaries have attracted many people to take up baseball as a professional sport, and have helped it become one of the most attractive sports in the world. Another advantage of MLB tournaments over the NBA and IPL is that the MLB has more players than the latter tournaments. MLB has over 800 players, while the NBA and IPL have less than 600 players each in a season. Such a large number of players needed for the sport is also attracting many players outside the US.
The new market research report from Technavio presents a breakdown and analysis of the baseball equipment segments based on the product.
“Since baseball is a game where even an inch can change the game, many clubs, players are trying to capture those inches. In 2014, MLB Advanced Media introduced a revolutionary plan for in-ballpark infrastructure which was designed to measure every play on the field and to answer analytic questions in order to understand the outcome. In 2016, FlightScope, a leader in sports technology, announced its new product FlightScope Strike which uses its signature 3D tracking radar technology to provide players, teams, and coaches with the most detailed data and skill analysis,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the bats segment is likely to continue its dominance over the baseball equipment market in the US by accounting for almost 28% of the overall market revenue. Baseball bats are of four types, based on the materials used — wood, aluminum, composite, and hybrid. The use of different types of bats depends on official specifications that govern the equipment, which is considered the standard for all teams associated with a given league and the divisions that make up the league. Although different bats are used across different leagues, the wooden bat remains the most commonly used type.
The key vendors in the baseball equipment market in the US include Adidas, Amer Sports, Newell Brands, Mizuno, Nike, and Performance Sports Group. The market is dominated by a few leading vendors who compete based on product offerings and geographical reach. Competition in the market is likely to intensify during the forecast period owing to the increase in product extensions and market shares. Vendors in the market are launching innovative equipment to increase their market shares. Other vendors in the market are trying to increase their market share by launching innovative products such as tracking technologies, lightweight gloves, and also through the enhancement of swing speed of the bats.
A more detailed analysis is available in the Technavio report, Baseball Equipment Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
