April 12, 2024
Boxing Equipment Market

Boxing Equipment Market is Estimated to Witness High Growth Owing to Technological Advancements in Smart Gloves

The boxing equipment market comprises gloves, wraps, mouthguards, headgear, protective gear, boxing bags, and other equipment used for sparring and training purposes. Boxing gloves help absorb the impact of punches to protect fighters’ hands and increase the intensity of the punches. Protective gear like headgear, wraps, and mouthguards prevent injuries in contact sports like boxing. The rising popularity of boxing as a recreational and professional sport is driving the demand for quality protective equipment. Advancements in smart boxing gloves allow monitoring punch speed, power, and form for better training results. 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 2030.

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 rising popularity of recreational and professional boxing is driving participation creating opportunities for market growth through sponsorships, funding, and equipment sales across emerging economies. Technological advancements like smart gloves equipped with sensors allow tracking punch metrics, improving form, and skill development over time.

The integration of artificial intelligence and augmented reality in boxing equipment like gloves can analyze form, facilitate real-time feedback, and strategize training regimens. Such advancements are aimed at providing an immersive practice experience and enhancing athlete performance.

Market Drivers

The growing health and fitness trends encouraging contact sports like boxing are fueling equipment demand. Boxing improves cardiovascular endurance, strength, reflexes and provides a full-body workout. The rising popularity of MMA and combat sports originating from boxing is also propelling the market.

Online videos and streaming of boxing matches on digital platforms are popularizing the sport amongst amateur audiences. The coverage promotes the sport and equipment brands, furthering market reach. Investments in infrastructure development and funding at grassroots levels are supporting participation growth.

Current Challenges in Boxing Equipment Market

The Boxing Equipment Market Trends faces challenges in terms of rising safety concerns regarding equipment and health issues among amateur boxers caused due to lack of proper gear. Regulations regarding manufacturing standards and safety certifications of equipment vary across countries making international supply difficult. High initial investments and operating costs also restrict new entrants in the market.

SWOT Analysis

Strength: Dedicated user base and growing popularity of combat sports among youth. Innovation in materials and designs have improved protective capabilities.
Weakness: Boxing perceived as a violent sport restricting growth potential in some markets. Equipment requires periodic replacement incurring recurring costs.
Opportunity: Emergence of new competition formats like mixed martial arts increasing demand. Growing female participation expanding consumer base.
Threats: Strict regulations and certification standards raise compliance costs. Online retail channels intensifying competition.

Geographical Regions

North America accounts for the largest share in terms of value due to widespread popularity and commercialization of boxing. Large consumer base and presence of leading brands strengthen market concentration in the region.

Asia Pacific exhibits fastest growth due to rising living standards and health awareness in developing countries like India and China propelling sport’s growth. Expansion of organised retail and online channels improving accessibility in the region supports demand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.