According to the latest market study released by Technavio, the global boxing equipment market is expected to grow at a CAGR of more than 5% during the forecast period.
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Technavio has published a new report on the global boxing equipment market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global Boxing Equipment Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global boxing equipment market into three major product segments. They are:
- Boxing gloves
- Protective gear
- Training equipment
Global boxing gloves market
Gloves are the most important equipment for boxing as these constitute the basic requirement for both training purposes and professional matches. Boxing gloves protect the hands of the wearer, including the knuckles and wrists, and they also reduce the impact of strikes and punches on the opponent. Sparring and other forms of boxing training demand different kinds of boxing gloves. These gloves are specifically designed to reduce superficial facial injuries.
“With the increasing popularity of boxing, many health and fitness clubs have started including boxing workout classes as a part of their fitness programs. All these factors, coupled with the relatively high replacement rate of boxing gloves, will have a positive impact on the growth of the global boxing gloves market over the coming years,” says Brijesh Kumar Choubey, a lead analyst at Technavio for outdoor gear research.
Global protective gear market
The global boxing protective gear market is the second-largest segment of the global boxing equipment market as it includes different types of mandatory products needed for the sport. Protective gear for boxing includes hand wraps, protective headgear, groin protector for men, and mouth guards. The increasing number of boxing tournaments being organized in different parts of the world is also a key driver for this segment.
Global training equipment market
“Training equipment for boxing is important for people undergoing boxing training in health and fitness clubs and boxing institutions. The market for this segment is driven by the increasing number of health and fitness clubs, which offer fitness boxing as a part of their fitness programs,” says Brijesh.
Training equipment for boxing includes heavy bags, speed bags, and double end punching bags. This category generates the lowest revenue compared with the other segments as most people undergoing training prefer to share these products rather than buying them individually.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Adidas
- Century Martial Arts
- Everlast Worldwide
- Hayabusa Fightwear
- Twins Special
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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