The U.S. market for protective sport equipment is expected to reach about $2.2 billion by 2020
(PRWEB) September 16, 2015
Wellesley, Mass., September 16, 2015 – Manufacturers across the major segments of the protective sports equipment market continue to develop new helmet technology to reduce the forces associated with concussion and brain injury. BCC Research estimates in its new report that emerging technology could raise average helmet costs by as much as 50%, depending on the technology.
The U.S. market for protective sports equipment reached $1.9 billion in 2014. This market is expected to reach $2 billion by 2015 and $2.2 billion by 2020, reflecting a five-year (2015-2020) compound annual growth rate (CAGR) of 2.9%. Football equipment, the fastest growing segment, should gain $166.5 million during the forecast period to reach $521.4 million in 2020, demonstrating an 8% CAGR. Cycling, the largest segment, should total $884 million in 2020, up from $773.7 million in 2015, achieving a CAGR of 2.7%.
The National Football League (NFL) was sued by more than 5,000 of its former players on the grounds that it did not do enough to inform them about the dangers of concussion and is not doing enough to take care of players who were injured. In 2015, a federal judge approved a settlement that provides up to $5 million per player for serious medical conditions associated with repeated head trauma.
Concern about the risk of concussion is increasing, from the NFL to youth football leagues. These concerns are driving the market towards more sophisticated—and expensive—types of helmets, making helmets the fastest-growing segment of the football market. On the negative side, concerns about concussion risks have been blamed for recent declines in youth and high school football participation, which has adversely impacted the market.
“Concussions are the most common injury among high school football players. Teenagers are especially susceptible to these mass cellular suicides. This is largely because their brains are still developing, which means that even a slight loss of cells can alter the trajectory of brain growth,” says BCC Research analyst Andrew McWilliams. “BCC Research anticipates that growing concerns about concussions will lead to the widespread adoption of advanced helmets designed to mitigate the danger of concussions. While it is too early to predict what types of helmet technologies will be adopted, the available data suggest that they will add at least fifty percent to the average cost of a helmet.“
Protective Sports Equipment: The North American Market (AVM085B) provides an overview of the protective sports equipment market, including an analysis of the items in that category, manufacturing techniques, properties, and prices for the North American market. Analyses of market trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at firstname.lastname@example.org.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email email@example.com.