Boxing is one of the popular contact sports that involves punching and defense skills. Various types of boxing equipment such as gloves, punching bags, hand wraps, headgear, protective gear etc. are used while training. The global boxing equipment market is gaining significant traction owing to increasing participation of people in combat and fitness sports. Proper boxing equipment helps absorb the impact of punches and prevents injury.
The Global boxing equipment market is estimated to be valued at US$ 2.18 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the boxing equipment market are Kingston Technology Corporation, Apple Inc., SanDisk Corp., Samsung Electronics Co. Ltd., Skullcandy, Inc., Microsoft Corporation, Sony Corp., Capdase International Limited, and Moshi, by Aevoe Group. The emergence of smart and connected fitness technologies present lucrative growth opportunities in the market. Devices that can track performance metrics, connect to apps, store music and more are gaining popularity. Technological advancements such as use of advanced materials for higher durability and comfort are further fueling the demand for boxing equipment.
Market Drivers
The growing popularity of combat and contact sports among young population is a key factor driving the Boxing Equipment Market Share. Participation in amateur and professional boxing events has surged significantly over the past few years. Additionally, increasing health awareness and focus on fitness is encouraging gym memberships and participation in combat sports. Aggressive marketing by manufacturers through online and offline channels is also boosting the sales of various boxing accessories and gear.
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