In 2021 and 2022, the global cricket equipment market was estimated to be worth USD 564.43 million and USD 594.46 million, respectively. During the projection period, the market is anticipated to grow at a CAGR of 6.05% to reach USD 897.02 million by 2029. The market's growth is predicted to be driven by growing demand for cricket bats and equipment from a variety of institutions, including schools, colleges, cricket clubs, and fitness centers. The market is anticipated to increase as a result of rising consumer demand for personalized sports goods and cricket accessories. It is anticipated that a shift in customer preferences towards branded goods will aid in the growth of the industry. This information is provided by Fortune Business InsightsTM in the "Cricket Equipment Market, 2024-2029" research.

Information Source:

https://www.fortunebusinessinsights.com/cricket-equipment-market-104485 

List of Top Key Companies Covered in the Cricket Equipment Market:

• Kookaburra Sport Pty Ltd (Australia)
• Grays International (K.)
• Sommers (Australia)
• KIPPAX WILLOW LIMITED COMPANY (U.K.)
• Bradbury (Australia)
• Blue Tongue Sports (Australia)
• Adidas AG (Germany) 
• Stag Cricket (K.)
• Salix Cricket Bat Co. Ltd (K.)
• Blankbats (K.)

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Increasing Occurrences of Cricket Leagues to Drive Market Development

Growing cricket leagues in several nations, including Australia, England, and India, is expected to fuel the growth of the cricket equipment market. Numerous prestigious and spectacular Twenty20 tournaments, including Big Bash, IPL, and T20 Blast, are held all over the world, drawing large crowds of spectators. The creation of reasonably priced sporting goods is anticipated to propel market expansion. The Government of India awarded millions of dollars in funding to 62 sports infrastructure projects in various categories in the Northeast area in December 2021 as part of the Khelo India plan. Increased millennial spending on sporting goods is also expected to fuel market expansion.

However, it is anticipated that rising raw material costs may hinder market expansion.

Segments

Protective Gear Segment to Dictate as it Offers Great Safety to Players

The market is segmented into categories such as bats, balls, protective gear, and others based on the kind of product. Since protective gear greatly increases player safety, it is expected to dominate the market. It is important that the equipment is used correctly and is of good quality. The equipment consists of gloves, leg padding, a helmet, and sunglasses or safety glasses.

Men to Lead the Segment as Cricket Equipment is Widely Used by Them

The market is divided into men and women based on end consumers. Given how frequently males use cricket equipment, the men's category is anticipated to have a significant share. On the basis of revenue, the category also accounted for 75.49% in 2021. During the course of the forecast period, a CAGR of 5.94% is also anticipated.

Regional Insights

Asia Pacific to Lead Market Share Due to the Presence of Various Players

The market share of cricket equipment is anticipated to be dominated by Asia Pacific because of the presence of players in numerous nations, including Australia, India, Pakistan, and New Zealand. The region was valued at USD 180.61 million in 2021 as a result of the increased demand for more flexible cricket bats and equipment. The use of cricket equipment is mostly being driven by the ongoing rise of small-scale producers who can provide goods at affordable prices in Asian nations including Australia, China, India, Japan, and others.

Competitive Landscape

Focus on Upgrade Product Portfolio by Key Players to Progress Market Course

Various players of the market have been focusing on providing flexible and efficient cricket game equipment and accessories, appropriate for all types of players. Sommers is focused on offering free design services to strengthen its customer base. This will help the company to implement things sensibly while delivering value to the customers.

Key Industry Development

• Kippax Willow Limited Company is putting efforts into offering after-sales services in case of any disputes or defects. This is set to drive the product segments, a renewed focus on customer value to boost sales, and increased usage of innovative sales tools.