Boxing is a combat sport that improves cardiovascular health and builds muscular strength and endurance. Boxing equipment such as gloves, bags, wraps, and pads are used to protect boxers and allow them to practice punches, kicks, and defensive techniques. Smart boxing equipment incorporates advanced technologies like sensors and connectivity features to record and analyze performance metrics.
The global Boxing Equipment Market is estimated to be valued at US$ 2.22 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of smart boxing equipment is expected to be a major trend in the boxing equipment market over the forecast period. Smart boxing equipment utilizes integrated sensors and connectivity capabilities to measure, analyze, and track performance metrics such as speed, power, accuracy, etc. of punches and kicks. The collected data can be analyzed using apps and dashboard to gain insights into technique, training progress, strengths, and weaknesses. This helps boxers and coaches optimize training programs. Leading companies are focusing on innovations in smart boxing gloves, bags, pads, and protective gear with advanced technologies. For instance, companies like Ringside offer smart boxing gloves integrated with Bluetooth and motion sensors that provide real-time feedback on a companion mobile app.
Segment Analysis
The global Boxing Equipment market is dominated by the boxing gloves segment. Boxing gloves account for over 35% of the total market share as they are an essential piece of protective equipment required for boxers of all levels. The demand for high-end professional boxing gloves is higher among professionals training at boxing gyms and those participating in professional boxing matches. Recreational and amateur boxers also contribute to the sales of cheaper entry-level boxing gloves. Other major segments include protective gear such as headgear, shin guards, mouthguards, hand wraps, and punching bags. Punching bags remain quite popular for home use among casual gym-goers and amateur boxers to practice punching techniques.
Key Takeaways
The Global Boxing Equipment Market Size is estimated to be valued at US$ 2.22 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2031.
Regional analysis: North America remains the largest as well as the most advanced market for boxing equipment globally. The popularity of boxing as a professional sport as well as fitness activity amongst recreational enthusiasts drives equipment sales. Europe is another major regional market boosted by participation in amateur and professional boxing in countries such as the UK, Germany, and Russia.
Key players: The global Boxing Equipment market is dominated by large equipment manufacturers such as Kingston Technology Corporation, Apple Inc., and SanDisk Corp. Kingston offers high-performance protective gear and punching bags targeted at professional gyms and boxes. Apple Inc. has leveraged its brand recognition to emerge as a major player in the accessories space, offering a wide range of apparel, hand wraps, and gloves. SanDisk Corp. has established itself in the mid-range segment with reasonably priced protective gear and punching bags for amateur and casual boxing. Other notable players operating in the market include Samsung Electronics Co. Ltd., Skullcandy, Inc., Microsoft Corporation, Sony Corp., Capdase International Limited, and Moshi, by Aevoe Group.
Get More Insights Here
https://www.newsstatix.com/boxing-equipment-market-analysis-size-share-growth-outlook-2023/
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