In 2021, the global for basketball hoops market was strong and is projected to experience rapid revenue growth throughout the forecast period. This growth is due to the rising popularity of basketball as both a competitive sport and a leisure activity, resulting in increased engagement in the sport and a significant increase in viewership of professional basketball games. Basketball is played by two teams, with five players on each side, and portable versions of hoops are available that can be easily moved from one location to another, unlike inground basketball hoops. Basketball hoops can be installed in a variety of locations, such as driveways, car parks, lawns, or beside pools. Despite the fragmented nature of the basketball hoops market, the increasing number of international sports competitions worldwide and the growing demand for portable hoops are expected to drive market revenue growth.
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Top Companies Operating in the Global Basketball Hoop Market Report:
- Vаrѕіtу Вrаndѕ Іnс. (U.S.)
- Віѕоn Іnс. (U.S.)
- Drареr Іnс. (U.S.)
- ААLСО (U.S.)
- Gаrеd Ноldіngѕ LLC (U.S.)
- Gоаlѕеttеr Ѕуѕtеmѕ Іnс. (U.S.)
- Lіfеtіmе Рrоduсtѕ Іnс. (U.S.)
- Fіrѕt Теаm Ѕроrtѕ Іnс. (U.S.)
- Роrtеr Аthlеtіс (U.S.)
Major Driving Factors of Basketball Hoop Market:
· Increasing popularity of basketball: The rising popularity of basketball worldwide has led to a surge in demand for basketball hoops. The sport is played at all levels, from amateur to professional, and requires a basketball hoop to play.
· Growing interest in outdoor activities: With the increasing focus on health and fitness, people are becoming more interested in outdoor activities such as basketball. This has led to an increase in demand for outdoor basketball hoops.
· Technological advancements: Technological advancements in basketball hoop design and construction have led to the development of more durable, portable, and adjustable basketball hoops. For example, some basketball hoops now come with an electronic height adjustment system.
· Increasing disposable income: As disposable income increases, people are willing to spend more on leisure activities such as basketball. This has led to an increase in demand for higher-end basketball hoops.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2019-2030)
- Inground Hoop
- Portable Hoop
- Wall-Mountedl Hoop
Application/ End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Amateur Activities
- Professional Venues
Key Takeaways of the Global Basketball Hoop Market Report:
· A comprehensive overview of the global Basketball Hoop industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Basketball Hoop market.
· Elaborate study of the leading regional markets in the global Basketball Hoop market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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