NEWARK, Del, April 11, 2023 (GLOBE NEWSWIRE) -- The global Cricket Equipment Market size is set to reach US$ 630.42 million in 2023. Overall sales of cricket equipment are likely to surge at 6.05% CAGR, taking the forecasted market valuation to US$ 1134.33 million by the end of 2033.
The cricket equipment market is expected to grow thanks to the expansion of cricket leagues around the world, especially in India, England, and Australia. The popularity of Twenty20 cricket matches is reflected in the proliferation of high-profile and spectacular T20 tournaments around the world.
Government spending on sports infrastructure is expected to rise, and the market should benefit from the rapid investment being made to promote technological advances in areas like sports analytics, sports medicine, and the creation of affordable sports equipment. As an example, the Government of India supported 62 sports infrastructure projects across a variety of disciplines the Northeast region in December 2021 as part of the Khelo India scheme.
Get a PDF Sample with the Latest Market Insights @
https://www.futuremarketinsights.com/reports/sample/rep-gb-16964
The rising popularity of cricket among young generations has fueled the expansion of the cricket products industry in recent years. The modern youth has also taken an active role in self-care, becoming more proactive, mindful, and driven by concerns for their own health. The expansion of the cricket kit market might be helped along by this.
The demand for high-end products, such as cricket kits, has increased as the average American's spending habits have shifted in recent years. The average monthly expenditures of millennials on sports, including cricket, far exceed those of any other generation. Young people's increasing purchasing power are likely to expand the cricket kits market.
The manufacturing of goods and the worldwide sale of those goods are both constrained by fluctuations in the cost of raw materials. Product demand is being stifled all over the world due to rising manufacturing costs and technological
barriers. The rising price of raw materials has a knock-on effect on a company's production costs. In turn, this raises the retail price of cricket products, which slows the industry's sales growth.
The price of timber, for example, went up from $US 550 per thousand in 2020 to US$ 850 per thousand in 2021, as stated in a report published by the National Association of Home Builders (NAHB) in February 2022.
Key Takeaways
- Asia Pacific is expected to dominate the cricket kits market due to the presence of key cricket-playing nations like India, Australia, and Pakistan.
- Cricket products are expected to be the most popular equipment, contributing a significant share of the market revenue.
- Online sales channels are expected to witness significant growth due to increasing internet penetration and convenience for customers.
- Key players in the market are focusing on product innovations, collaborations, and partnerships to enhance their market share.
- The high cost of advanced and high-quality cricket products is a main restraint, especially for amateur players and those from developing countries.
- Regulations and safety standards for cricket products manufacturing and sales are expected to become stringent, which may increase compliance costs for manufacturers and suppliers.
Speak to our Research Expert @
https://www.futuremarketinsights.com/ask-question/rep-gb-16964
Competitive Landscape:
Many different types of small and medium-sized businesses make up the cricket equipment market's competitive landscape. There are only a handful of companies that control most of the market. Key market participants are:
- Adidas
- Gunn & Moore
- Sanspareils Greenlands
- Kookaburra
- Puma SE
- Gray-Nicolls
- Sareen Sports
- Slazenger
- Nike, Inc.
- MRF Limited
The products, prices, channels, and reputations of these businesses are all in a state of constant flux as they compete with one another. They put a lot of money into research and development to come up with innovative new products, like bats, balls, and protective gear that are lightweight and have improved performance. The company is also working to raise awareness of its brand by securing sponsorships and endorsing other companies’ products.
Alongside these global powerhouses is a slew of small regional and local firms catering to regions or markets. Price, quality, and service to customers are all points of competition for these businesses. To meet the ever-evolving demands of consumers, the company is also diversifying its product line.
Key Segments
Cricket Equipment Industry by End-User:
- Cricket Equipment Industry for Men
- Cricket Equipment Industry for Women
Cricket Equipment Industry by Product Type:
- Cricket Equipment Industry for Bat
- Cricket Equipment Industry for Ball
- Cricket Equipment Industry for Protective Gear
- Cricket Equipment Industry for Others
Browse Full Report with Facts and Figures of Universal Testing Machine Market Report @
https://www.futuremarketinsights.com/reports/cricket-equipment-market
1. Executive Summary | Cricket Equipment Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
Complete TOC with Report Preview:https://www.futuremarketinsights.com/reports/cricket-equipment-market
Have a Look at Related Research Reports in the Consumer Product
Domain:
Self-tanning Products Market: The global self-tanning products market net worth is estimated to be around US$ 1,142 million in the year 2023. During the period from 2023 to 2033, According to FMI prediction, the self-tanning products market is to expand at a CAGR of 5.9% during the period from 2023 to 2033. By following this strong growth rate, the global self-tanning products market valuation is anticipated to reach US$ 2,026 million by 2033.
Bathtub Market: The adoption of bathtubs is expected to increase at a CAGR of 5.77% during the forecast period. The bathtub market size is anticipated to rise from US$ 10.79 billion in 2023 to US$ 18.91 billion by 2033.
Luxury Furniture Market: According to the recent report by Future Market Insights (FMI), the luxury furniture market size is estimated to stand at US$ 38.97 billion by 2033. Over the forecast period, the market is assessed to trail at a CAGR of 5.6%. For the year 2023, FMI has estimated the market to be worth US$ 22.6 billion.
Asia Pacific Hats Market: In the previous year 2022, FMI found that the Asia Pacific hats market was worth around US$ 1.08 billion. The market size is anticipated to expand at a CAGR of 5.3% during the years 2023 to 2033. FMI further predicts that the Asia Pacific hats market valuation to reach US$ 1.91 billion by the end of this forecast period.
Bentonite Cat Litter Market: The bentonite cat litter market is predicted to increase significantly at a 5.8% CAGR during the forecast period, reaching an estimated value of US$ 5.57 billion by 2033. The global demand for bentonite cat litter is expected to surpass US$ 3.17 billion in 2023.
About Future Market Insights, Inc.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
