Cricket equipment industry is projected to witness a CAGR of 3.5% during the period 2024-2032. This growth can be attributed to increasing demand for customized sports equipment.
Selbyville, Delaware, June 19, 2024 (GLOBE NEWSWIRE) —
Cricket Equipment Market size is estimated to be valued at USD 5 billion by the end of 2032. The increasing popularity and commercialization of the sport across the globe will drive the industry progression.
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Of late, the fan base of cricket is expanding beyond its traditional strongholds in countries like India, Australia, and England in addition to reaching new audiences in regions including the Middle East, North America, and Europe. Global expansion driven by international tournaments and domestic leagues, such as the Indian Premier League (IPL) and Big Bash League (BBL) and extensive media coverage is also giving the game greater exposure and appeal.
Technological advancements and innovations in cricket equipment will favor the cricket equipment market development. For example, in April 2024, the Himachal Pradesh Cricket Association (HPCA) introduced SISGrass Hybrid Pitch Technology into their practice facilities. Moreover, manufacturers are constantly investing in R&D activities to create products that enhance performance, safety, and comfort for players. Advanced materials, such as carbon fiber and dense foam are used in cricket bats and protective gear to improve durability and performance while reducing weight. The increased emphasis on player safety has further resulted in more effective protective gear, including better impact resistant helmets and improved design.
Cricket bats to gain traction
Cricket equipment market from the bats product segment is expected to expand exponentially up to 2032. The growth is due to constant advancements in bat technology and the rising demand for customized, high-performance bats among players of all age groups. Innovative features, such as lightweight yet durable controls, advanced balance and power systems, and personalized tracks tailored to individual players style are enhancing player performance and satisfaction. The rise in popularity of short genres, such as T20 cricket has led to an increased emphasis on bats, prompting players to invest in high quality equipment.
Rising popularity among men
Cricket equipment market from the men end user segment is expected to record lucrative expansion from 2024-2032 due to the predominance of male players at both amateur and professional levels worldwide. Men cricket is garnering a lot of media coverage, support and fan following, especially in cricket-dominated countries, further creating a huge demand for high-end cricket equipment. Furthermore, men cricket teams, tournaments, and competitions are encouraging the continued purchase and exchange of equipment, such as bats, pads, gloves, and protective clothing.
North America to emerge as a lucrative market
North America cricket equipment market is estimated to record substantial development by 2032 attributed to the increasing popularity of cricket among diverse communities. The establishment and expansion of cricket leagues, such as Major League Cricket (MLC) in the U.S. to provide structured venues for competitive play is attracting new participants and fans. Investments in cricket infrastructure, including new facilities and dedicated cricket academies are making way for increased access and participation in the game. Marketing efforts and partnerships with schools and universities will also promote cricket at the grassroots level, stimulating the regional industry development.
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Cricket Equipment Market Participants
Some of the prominent cricket equipment industry players include Adidas, Woodworm, Albion Sports, SS (Sareen Sports Industries), DSC (Delux Sports Company), Spartan Sports, Gray-Nicolls, Slazenger, Gunn & Moore (GM), SG (Sanspareils Greenlands), Kookaburra, Puma, Masuri, New Balance, and MRF (Madras Rubber Factory).
These firms are focusing on new product developments to proliferate their product portfolio and engaging in various growth-based strategies to widen their customer base. To cite an instance, in October 2023, DP World announced a plan to support the expansion of cricket globally by supplying 50 shipping containers filled with cricket equipment to grassroots teams, marking the start of the ICC Cricket World Cup in India.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Market 3600 synopsis, 2018 – 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Raw material analysis
3.3 Regulatory landscape
3.4 Impact forces
3.4.1 Growth drivers
3.4.1.1 Increasing demand for customized sports equipment
3.4.1.2 Rising construction of stadiums
3.4.2 Industry pitfalls & challenges
3.4.2.1 High cost of good-quality equipment
3.4.2.2 Lack of knowledge and instruction about proper usage & maintenance of sports equipment
3.5 Consumer buying behavior analysis
3.6 Growth potential analysis
3.7 Porter’s analysis
3.8 PESTEL analysis
3.9 Trade analysis
3.9.1 Export data, by key players
3.9.2 Import data, by key players
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
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