Overview:

The global basketball equipment market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Equipment such as backboard, hoop, hoop lights, and LED’s, etc. that are used during the basketball match are called as basketball equipment. The equipment can either be fixed type or portable type.

Market Dynamics:

Rising sponsorship and scholarship coupled with rising investment by professional clubs in equipment and accessories purchase are major factors driving growth of the global basketball equipment market. In addition, growing popularity of the game in Asian countries and rising investment in development of basketball courts and facilities in the countries are other factors expected to further fuel growth of the target market to significant extent.

Moreover, rising number of online sales channels is another factor supporting the market growth. However, fluctuating raw material prices is a key factor expected to hamper growth of the global market to certain extent in the forecast period.

Key Trends:

New product launches by key manufacturers is a key trend observed in the global basketball equipment market. For instance, in 2020, Goalsetter, a key manufacturer of basketball hoops and accessories launched Launch(R) series, which include a telescopic pole for custom courts. Thus, rising focus on product launches by key players is expected to drive growth of the global market.

Regional Analysis:

For detailed understanding of market dynamics, the global basketball equipment market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounted for highest share in terms of revenue in 2018 in the global market. Presence of key teams and major manufacturers in the region are key factors driving growth of the target market in this region. The market in Asia Pacific is expected to witness highest growth during the forecast period, owing to rising basketball sport competitions in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Basketball Equipment Market, By Portability:

• In-ground
• Portable

Global Basketball Equipment Market, By Product:

• Backboards
• Other Products

Key Players Covered:

Key players operating in the target market includes, Varsity Brands, Inc. Bison, Inc., Draper, Inc., Porter Athletic, Inc., Aalco Metals Limited, Gared Holdings, Inc., Goalsetter Systems, Inc., Lifetime Products, Inc., First Team Sports, Inc., and Spalding Sports Equipment.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Basketball Equipment Market by portability, product, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global basketball equipment market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.