Global Basketball Equipment Market By Portability (In-Ground, Portable), By Product Type (Backboards, Other Product Types), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Basketball Equipment Market By Portability (In-Ground, Portable), By Product Type (Backboards, Other Product Types), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2030 (Includes Business Impact of COVID-19)
Trusted Business Insights has published a comprehensive market research report on, Global Basketball Equipment Market by Portability (In-ground, Portable), By Product Type (Backboards, Other Product Types), and by Region -Global Forecast to 2030, which offers a holistic view of the global Basketball Equipment market through systematic segmentation that covers every aspect of the target market.

The global Basketball Equipment market is projected to be US$ 35.3 Mn in 2020 to reach US$ 38.61 Mn by 2030 at a CAGR of 0.9%.

Basketball was invented during 1991-92 at Springfield College Massachusetts by Dr James A. Naismith.  It is a sport played by two competitive teams, with each team made of five players. Teams compete with each other to collect points through shooting the basketball in the baskets. Basketball equipment is the equipment used while playing basketball. Equipment such as backstop, backboard, hoop, basket goal, scoreboard, shot clock, basket accessories and basket training equipment are considered as basketball equipment.

The global basketball equipment market is expected to grow at a steady rate over the forecast period. Over past few years, there has been significant growth in demand for sports in several regions, owing to the increasing influence of internet and media as a means of promoting health and fitness, which has resulted in the widespread growth of sports events. The demand is backed by the growing interest of youngsters and teenagers. Demand for basketball events is also influenced by rising consumer spending power, which is expected to support the growth of the basketball equipment market. However, regulations imposed by national/international basketball federations on the selection of equipment could limit the growth of the market. Moreover, demand from the non-conventional sector, such as streetball could be a novel opportunity for the target market in the near future.


Global Basketball Equipment Market Revenue (US$ Mn), 2021 to 2030


The increasing number of sports events, particularly basketball events across the globe is a key factor propelling the growth of the global basketball equipment market. Also, the growing popularity of basketball among both children and adults is significantly increasing demand for basketball equipment over the forecast period. Healthy growth in spending power and increasing disposable income of customers is expected to support the growth of the market globally

However, International basketball association such as NBA, FIBA, etc. have certain standards for selection of basketball equipment, which the majority of manufacturers may not comply with. This limits these manufacturers towards directing sales towards these important segments, which is a key factor expected to challenge the global basketball equipment market.

The global basketball equipment market is segmented on the basis on portability, product type and region. On the basis of portability, the market is segmented into In-ground, portable. The In-ground segment accounts for the majority share in the global basketball equipment market. On the basis of product type, the market is segmented into backboards, other product types. The backboards account for a majority share in the global basketball equipment market.


Global Basketball Equipment Market by Portability, 2018


On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. North America accounts for the majority share in the global Basketball Equipment market, owing to increasing adoption of basketball in schools and institutes. APAC is expected to register the highest growth rate over the forecast period. Countries and regions such as China, Japan, South America and MEA are expected to register stable growth over the forecast period.

The research report on the global Basketball Equipment market includes profiles of some of the major companies such as Varsity Brands, Inc., Bison, Inc., Draper, Inc., AALCO, Gared Holdings, LLC, Goalsetter Systems, Inc., Lifetime Products, Inc, First Team Sports Inc, Porter Athletic and Other Prominent Players.



Below are the active patents related to Basketball Equipment Market.


Patent Number: US20120283049A1

Basketball Shooting Training Device And Method

Abstract

The disclosure relates to a device for training proper finger spacing on a basketball ball at the time of releasing the ball. The basketball training devices provided herein maintain two adjacent fingers in comfortably spaced relation to enable the player to support and release the ball from those two fingers, thereby increasing the players control of the ball and improving the accuracy of the basketball shot. A method for maintaining two adjacent fingers of a basketball players hand in spaced and angled relation when shooting a basketball is provided. A method for making the training device is also provided.

Application File Date: 2012-05-07

Application Granted Date: 2014-12-09

Inventor: Tim Singh Grover

Patent Number: US20060229149A1

Sports ball with a woven fabric and method for manufacturing such a sports ball

Abstract

The invention relates to a sports ball (1) comprising a core (2) and a cover (3) formed from a plurality of panel segments (4). One or more of said panel segments have an outer face covered with a woven fabric (7), preferably denim. The panel segments are connected at joints (6) and said woven fabric is attached to said outer face at said joints. The invention further relates to a method for manufacturing a sports ball.

Application File Date: 2005-12-02

Application Granted Date: 2011-09-20

Current Assignee: GOEDOEN HOLDING FZC

Key Market Segments

Portability

  
In-Ground
  
Portable

Product Type

  
Backboards
  
Other Product Types


Key Market Players included in the report:


  
AALCO Manufacturing
  
Adidas America Inc.
  
Amer Sports
  
ASICS
  
Baden Sports
  
Bison Inc.
  
BSN Sports
  
Cosco India Ltd.
  
Draper Inc.
  
FILA
  
First Team Sports Inc
  
Gared Holdings LLC
  
Goalsetter Systems Inc.
  
Jaypro Sports LLC
  
Joma Sport
  
JORDAN
  
Korney Board Aids,
  
Lifetime Products Inc
  
McDavid
  
Nike Inc.
  
Nivia Sports
  
Porter Athletic
  
Rawlings Sporting Goods
  
Spalding Sports Equipment
  
Under Armour
  
Varsity Brands Inc.
  
Wilson


Below are the key development related to Basketball Equipment Market in 2020 and 2021.


JUNE 2021: ADIDAS LAUNCHES NEW SHARE BUYBACK PROGRAM. Through its new strategy ‘Own the Game’ adidas expects to drive significant top-line growth and strong bottom-line expansion until 2025. As a result, the company will generate substantial cumulative free cash flow over the next five years. adidas plans to share the majority of this – between € 8 billion and € 9 billion – with its shareholders through regular dividend pay-outs in a range of between 30% and 50% of net income from continuing operations, complemented with share buybacks. Source

FEBRUARY 2021: ADIDAS STARTS DIVESTITURE PROCESS FOR REEBOK. As part of the development of its new five-year strategy, adidas has concluded its assessment of strategic alternatives for Reebok. As a result of this review, the company has now decided to begin a formal process aimed at divesting Reebok. Going forward, the company intends to focus its efforts on further strengthening the leading position of the adidas brand in the global sporting goods market. Accordingly, adidas is going to report Reebok as discontinued operations from the first quarter 2021 onwards. More details on adidas’ strategic business plan until 2025 will be unveiled at the company’s virtual Investor and Media Day on March 10, 2021. Source

September 2020: Amer Sports announces Senior Management changes. Amer Sports Corporation (“Amer Sports”) announced a number of executive leadership changes. Mr. Heikki Takala has decided to resign from his role as President and CEO and will move into a role as a special advisor to the Board of Directors for Amer Sports. Mr. Jie Zheng (James), as the Board Executive Director, has assumed Mr. Takala’s responsibilities, supported by the appointment of Mr. Michael Hauge Sorensen as Chief Operating Officer, a newly created role at Amer Sports. The appointments come as Amer Sports enters its next phase of growth. Source