Softball Equipment Market Worth is Poised to Reach US$ 716.23 Million by 2033

The global softball equipment market is expected to garner a market value of US$ 507.75 Million in 2023 and is expected to accumulate a market value of US$ 716.23 Million by registering a CAGR of 3.5% in the forecast period 2023-2033.

Growth of the softball equipment market can be attributed to government initiatives on encouraging the population for participating in softball as a professional sport are expected to increase the demand for softball equipment in the near future.
Softball equipment includes a ball, gloves, bats, and other gear used to play the game. The most important piece of softball equipment is the ball. Softballs are larger than baseballs and have a higher bounce. They are typically made of rubber or plastic and can be white or yellow.

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4 Key Future Prospects of Softball Equipment Market for Forecast Period 2017-2026

1- North America will spearhead the global softball equipment market, in terms of revenues. Europe and Asia-Pacific excluding Japan are also expected to remain major markets for softball equipment, with sales collectively projected to account for nearly 30% market share by 2026-end.

2- On the basis of product type, bats will continue to be sought-after in the market, with sales poised to surpass US$ 350 Mn in revenues by 2026-end. Revenues from sales of softball bats are estimated to remain significantly larger than those from all the other product segments combined. Gloves are also expected to prevail as a lucrative product in the market.

3- Third party online channels and modern trade are expected to remain the leading revenue contributors to the global softball equipment market, based on sales channel. Third party online channel will also persist as the fastest expanding sales channel for softball equipment, trailed by direct to customer online channel.

4- Based on buyer type, individual segment will continue to lead the market, with an estimated revenue share of over 66% during 2017 to 2026. Institutional buyers will also latch onto a major chunk of the market's revenue share during the forecast period.

Competitive landscape:

The global market for softball equipment will continue to be dominated by few leading vendors competing in terms of market reach and product offerings. Competition in the market is expected to intensify in the upcoming years, with growing product extensions and shares of the vendors.

These vendors are introducing innovative equipment for enhancing their product portfolio and increasing their market share through products such as softball bats with enhanced swing speed, lightweight gloves, and tracking technologies.
Prominent key players driving growth of the softball equipment market globally include Nike, Newell Brands Inc., Mizuno Corporation, Under Armour Inc., Phoenix Bat Company, Adidas, Amer Sports, Zett Corporation, Schutt Sports Inc and Peak Achievement Athletics.

• Phoenix Bat Company, a key player in the softball equipment company is focusing on offering bats for men, women, youth and children. Thus, the company is customizing softball bats according to the need of the people.

• Adidas, another key player in the softball equipment market is focusing on making 60% of softball equipment with sustainable material. The company is focusing on becoming carbon neutral at the soonest.

Key Segments Profiled in the Softball Equipment Industry Survey:

• Product Type
o Bat
o Helmets
o Equipment Bag
o Gloves
o Accessories

• Sales Channel
o Independent Sports Outlet
o Franchised Sports Outlet
o Modern Trade Channels
o Direct to Customer Brand Outlet
o Direct to Customer Online Channel
o Direct to Customer Institutional Channel
o Third Party Online Channel

• Buyer Type
o Individual
o Institutional
o Promotional

• Region
o North America
o Latin America
o Europe
o Japan
o APEJ
o MEA

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Questionnaire answered in the Market outlook Report of Softball Equipment include:

• What is the key strategy deployed by large players to maximize Softball Equipment Market growth?

• What are the main challenges faced by players in the Softball Equipment market Demand?

• With the advent of technological advancement, how will the Softball Equipment market landscape change over the forecast period?

• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Softball Equipment market size?

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This release was published on openPR.