Baseball Equipment Market in the US 2019-2023 | Increasing Customization and Product Innovation to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 14, 2019--
The baseball equipment market in the US is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled baseball equipment market in the US 2019-2023. (Graphic: Business Wire)
Baseball has been gaining popularity across the globe, especially in the US. The number of people opting to play baseball is increasing day-by-day, which has led to an increase in the sale of baseball equipment. Major league baseball (MLB) is the oldest professional sports league in the US, which has witnessed a significant increase in revenue growth. Many European players are signing contracts with MLB teams, which is further increasing the popularity of baseball. The significant rise in the number of baseball events and the increasing popularity of the game will contribute to the baseball equipment market growth during the forecast period.
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As per Technavio, the growing customization and product innovation, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Baseball Equipment Market in the US: Growing customization and product innovations
Customization of baseball equipment has become a significant trend in the US. Vendors are focusing on offering personalized products and fast delivery processes to maintain their competitive edge. Moreover, vendors have developed online platforms wherein customers can customize their equipment. Along with customization, vendors are also focusing on product innovations. Many vendors are working on materials to develop baseball bats that can hit the ball faster and farther. Vendors are partnering with technology providers to develop limited-edition baseball equipment. The rising trend of customization and product innovation will contribute to market growth significantly over the forecast period.
“Apart from the growing customization and product innovation, the necessity for quick replacement of bats and balls coupled with the rise in salaries of baseball players are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Baseball Equipment Market in the US: Segmentation Analysis
This market research report segments the baseball equipment market in the US by product (bats, gloves, shoes, balls, and protective gear and others) and distribution channel (specialty and sports shops, department and discount stores, online retail ,and others).
The specialty and sports shops segment led the market in 2018, followed by department and discount stores, online retail, and others respectively. During the forecast period, the specialty and sports shops is expected to maintain its dominance over the global market. This is due to the convenience of purchasing specific products from these stores.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: BASEBALL SPORTS
SOURCE: Technavio Research
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PUB: 10/14/2019 09:45 AM/DISC: 10/14/2019 09:45 AM