Basketball Equipment Market

Report Overview

The Basketball Equipment Market is expected to be worth around USD 1461.88 million by 2031 from USD 950.4 million in 2021, growing at a CAGR of 4.40% from 2021 to 2031.

In basketball, two opposing teams each have five players on the court. The teams score points by launching the basketball into an elevated horizontal hoop. To participate in a basketball game, individuals need to have a variety of equipment such as a backstop, basket goal, backboard, scoreboard, hoop, shot clock, and basketball accessories such as socks, shoes, etc. The NBA (National Basketball Association) and other professional organizations have strict guidelines for the official basketball equipment they utilize.

Global Basketball Equipment Market Scope:

Equipment Type Analysis

By equipment type, the basketball equipment market is divided into basketball shoes, accessories, basketballs, and training equipment. Due to its quality and design, specifically suited for the intensity of this game with constant running and jumping, the basketball shoe segment is expected to hold a significant market share in the years to come.

These shoes offer comfort, stability, and flexibility and even serve as shock absorbers. The popularity of this sport and endorsements and advertisements by players, celebrities, and sports figures are expected to help the basketball accessories market overgrow over the projected period.

Distribution Channel Analysis

Based on the distribution channel, the global basketball equipment market is segmented into specialty and sports shops, department stores, and discount retailers. Owing to its accessibility, convenience of purchase, and options for end users, the specialized and sports category is expected to have a significant market share throughout the projection period. The availability of products in department and discount stores is considerably more practical. Thus these stores are expected to expand over the forecast period.

Key Market Segments:

By Equipment Type

• Basketball Shoes
• Basketballs
• Basketball Accessories
• Basketball Training Equipment

By Distribution Channel

• Specialty and Sports Shops
• Department and Discount Stores

Equipment Used for Basketball:

• The Backboard
• The Ball
• The Hoop
• Handbags
• Rings & Rims
• Basketball Nets
• Shot Clocks
• Ball Racks
• Ball Pump
• Basketball Socks
• Basketball Shoes
• Basketball Shorts
• Bags and Backpacks
• Others

Basketball Accessories:

Players take several items with them throughout a basketball game, including towels, watches, and eyeglasses. These accessories include basketball gear, headbands, wristbands, sunglasses, goggles, bags, backpacks, socks and footwear combos, etc., improving performance on the court.

Basketball Shoes:

The expansion of basketball as a recreational sport is responsible for this market’s rise. The type of shoes a player wears while playing basketball is called basketball footwear. Men’s, women’s, and children’s shoes are all included in this category.

Market Dynamics:

During the forecast period, the basketball equipment market is expected to experience substantial growth possibilities due to increased scholarships and sponsorships for sports players. A tried-and-true marketing strategy that most well-known sports equipment manufacturers use includes celebrity and athlete endorsement campaigns. Moreover, the sports business is expanding quickly, and these trends, together with globalization and easy access to the internet and media worldwide. Brewing enzyme R&D spending and technical development are anticipated to present market participants with attractive chances. These elements are expected to propel the global basketball equipment market shortly.

Increasing participation of individuals in basketball games for recreational purposes has been on the rise for over decades. Active participation in various sports and events from both genders and children is expected to surge the demand for basketball equipment in the coming years. Moreover, stable growth in increasing interest in basketball is also a supporting factor expected to fuel revenue growth of the basketball equipment market.

However, the basketball equipment market is expected to face challenges during the forecast period because of the fluctuating prices of the raw materials used to manufacture it. The basketball organization’s quality requirements and rules are the major obstacles limiting the market growth.

In recent years, the exponential boom has been experienced by the e-commerce sector. Established players have increased their offline presence to provide goods through these channels. Also, the steady surge in the offline showcasing of basketball products by various key players is expected to boost basketball equipment sales in the coming years. Moreover, the robust expansion of e-commerce giants such as Amazon, Wish, Decathlon, etc., offers a variety of products and brands at highly affordable prices, which is a factor that is also expected to provide solid opportunities for market growth.

Regional Analysis

The market is broadly divided into the following geographical regions: North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The forecast term is expected to see North America grow at a robust CAGR. A large consumer base and the popularity of basketball as a sport are also factors in the regional market expansion.

Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Basketball equipment is a thriving sector, and technological advancements and new items help it grow. Due to the rising popularity of basketball, significant players in the basketball equipment market anticipate seeing a rise in demand for the product shortly. Porter Athletic, BSN Sports, Spalding Sports Equipment, AALCO Manufacturing, Adidas America Inc., Amer Sports, Draper Inc., Rawlings Sporting Goods, Nike Inc., Korney Board Aids, ASICS, FILA, Baden Sports, Joma Sport, Lifetime Products, Under Armour Inc., McDavid, Cosco India Ltd., Jaypro Sports, LLC, and Present First Team Inc. are leading key players in the basketball equipment industry. Manufacturers are introducing cutting-edge, high-quality equipment across a variety of product lines. To increase market efficiency, suppliers are also focusing on enhancing the distribution channels, particularly the online channel. As a result, the global basketball equipment market is predicted to grow.

Market Key Players:

• Porter Athletic
• Spalding Sports Equipment
• BSN Sports
• AALCO Manufacturing
• Draper Inc.
• Adidas America Inc.
• Amer Sports
• Nike Inc.
• Rawlings Sporting Goods
• ASICS
• Baden Sports
• Other Key Players

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For the Basketball Equipment Market research study, the following years have been considered to estimate the market size: