LONDON--(BUSINESS WIRE)--The global volleyball equipment market size is expected to grow by USD 196.56 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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With the huge success of volleyball competitions at the Olympic Games, FIVB World Championships, the FIVB World League, the FIVB World Grand Prix, the FIVB World Cup, and the FIVB Grand Champions Cup, the participation rate, as well as the number of leagues and tournaments, continues to grow exponentially at all levels. The Volleyball Federation of India (VFI) announced a 10-year commercial partnership with sports marketing firm Baseline Ventures in February 2018. The partnership was for a new tournament, Pro Volleyball, which is promoted by Baseline Ventures. With the increasing popularity of volleyball, the global market for volleyball equipment will register significant growth over the next five years.
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As per Technavio, the advent of 3D printed volleyball shoes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Volleyball Equipment Market: Advent of 3D Printed Volleyball Shoes
The advent of 3D printed volleyball shoes is one of the major trends being witnessed in the global volleyball equipment market. Market competitors are investing a good amount of their revenue in R&D to design technologically advanced volleyball shoes. For instance, Peak Sport Products (a Chinese sports equipment company) released the world’s first 3D printed volleyball shoes in China Volleyball Super league (CVL) all-star game in April 2018.
“Other factors such as the growth in the number of recreational players, and the increasing number of children participating in sports activities will have a significant impact on the growth of the volleyball equipment market value during the forecast period,” says a senior analyst at Technavio.
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Volleyball Equipment Market: Segmentation Analysis
This market research report segments the volleyball equipment market by product (balls, shoes, protective gear, and others) and geography (Europe, North America, APAC, South America, and MEA).
The European region led the volleyball equipment market share in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the improvements in product quality and advances in functionalities and performance.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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