Cricket Equipment Market Shows Expected Trend to Guide from 2020-2027
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The Lockdown Scenario due to the COVID-19 pandemic has caused a huge loss to the market. The major cricket events being planned in various parts of the world have to be either postponed or canceled due to the widespread virus and social distancing. The cricket equipment market has been impacted in terms of sales.
The production has been hampered due to the shutdown of many manufacturing units in various parts of the world and due to a shortage of labor. The raw material like wood, leather, and other for manufacturing the equipment has been difficult to procure.
•Impaired Supply Chain
The supply chain has been disrupted as the distribution channels have been affected and the brand stores have been closed for a certain amount of time. This has impacted the sales and revenue of the market. The main disadvantage to the cricket equipment market is the impact on consumer behavior post COVID-19 scenario.
The government has postponed and canceled cricket events which has affected the growth of the market.
•Top Impacting Factors: Market Scenario Analysis, Trends, Drivers,and Impact Analysis
The cricket equipment market has expanded over the centuries. Earlier, the bats used for batting in the game were more like a hockey stick, as the technology and advancements were made the cricket equipment market started bringing variations in the size, shape, and material used for the equipment. The advancement in the manufacturing process, availability of various raw material, increasing demand, awareness about the trends, price of the products, quality of the products, increase in the disposable income, luxurious lifestyles, trending sports events, celebrity endorsements and innovation in the existing types of equipment are the factors that drive the growth of the global cricket equipment market. However, the increase in competition, entry of new players, and availability of alternate equipment hinder the market growth. Adversely, investments in innovative types of equipment, increasing the comfort of the customers, merging of new brands and targeting the general market other than the mainstream help the industries to expand its market share.
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•Necessity is the mother of Invention
The biggest customer of this market is the cricket team of various countries. As the game has become popular, more people have been drawn toward this market. The necessity in the precision of the events and matches held has impacted the innovation in the equipment. The key players like StanceBeam and Kookaburra have collaborated to bring an advanced smart cricket bat sensor, which helps the players to analyze their game making them more meticulous. The mobile application launched by StanceBeam is used to gather all the information on the Bat speed, 3D Swing Analysis, Power Index, and other details just by a touch. Many other innovative ideas are like Helmet cams, sensors in the stump, bail and boundary lines, colored bats, various value additions in the bat and ball for providing comfort to the players have been launched in the market.
•Expanding the Market Size
Many companies have just not been limited to the mainstream. The market has been expanding and the companies are coming up with new strategies to increase market penetration. The product bunding is done in the form of cricket kits according to the market segment. Along with the basic types of equipment, the market has also witnessed the increase in demand for other accessories like footwear, bags, clothing, indoor gears, bat grips, and others serving the market growth.
•Companies covered Kookaburra, Gunn & Moore, Gray –Nicolls, SanspareilsGreenlands, Adidas, Puma, Sunridges, Reebok, SpartanSports, British Cricket Balls, Woodworm Cricket, CA sports, Sommers Sports, MRF, Kippax Cricket, Slazenger.
Key Benefits of the Report:
• This study presents the analytical depiction of the global cricket equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global cricket equipment market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cricket equipment market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global cricket equipment market analysis based on competitive intensity and how the competition will take shape in the coming years.
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