NEW YORK, Oct. 2, 2023 /PRNewswire/ — The sports equipment market is estimated to grow by USD 60.3 billion from 2022 to 2027, growing at a CAGR of 6.43%. The sports equipment market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer sports equipment market are Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Clarus Corp., Cosco India Ltd., DICKS Sporting Goods Inc., Freewill Sports Pvt. Ltd., JD Sports Fashion Plc, Mizuno USA Inc., New Balance Athletics Inc., Nike Inc., PUMA SE, Reebok International Ltd., Sanspareils Greenlands Pvt Ltd., Sareen Sports Industries, Skechers USA Inc., SKIS ROSSIGNOL SAS, Under Armour Inc., Yonex Co. Ltd., and Topgolf Callaway Brands Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
- Adidas AG – The company offers sports equipment such as home workout kits, and football gear.
- ANTA Sports Products Ltd. – The company offers sports equipment such as Anta Knit Running Cap, Anta Running Gloves, and Anta Neck Warmer.
- ASICS Corp. – The company offers sports equipment such as marathon running shoes, tennis shoes, and many other training shoes.
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By Geography, the market is classified as APAC, Europe, North America, South America, Middle East and Africa.
- APAC is estimated to contribute 34% to the growth of the global market during the forecast period. The growing popularity of a wide range of sports in countries like China, Japan, India, and South Korea has been one of the major factors that have contributed significantly to the development of the APAC region’s sporting equipment market. In addition, the regional market growth is being positively affected by a rise in tourism. In addition, several countries, such as China, Japan, and Australia, have increased their investment in the development of world-class sports infrastructure and hosted international sporting events. In hosting such world-class events in these regions, one of its most significant advantages is that it draws not just athletes and spectators from all over the world but also an increased interest in sports for locals. Hence, these factors are expected to drive market growth in the region during the forecast period.
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- Impactful driver- Rising health and fitness awareness among individuals
- Key Trend – Rising demand for neurostimulation
- Major Challenges – Unpredictable raw material prices
- By Product, the market is classified into ball games, fitness/strength equipment, ball over-net games, athletics training equipment, and others. The ball games segment is estimated to witness significant growth during the forecast period. These ball games include different sports that are enjoyed by people of all ages as well as skill levels. There are many different sports, which involve the use of football as its central element, within the ball games segment. Football, basketball, baseball, volleyball, tennis, and several other sports are some of the most important fields to be covered by the ball game segment in the overall sports equipment market. Furthermore, with its high popularity and extensive worldwide participation, the segment of ball games is experiencing an increasing demand from consumers. Football is one of the most common sports, as it takes place in almost every country and has an enormous fan base. Participation rates in football have been increasing because it needs only minimal equipment, mainly balls, which are accessible to a large number of people. Hence, these factors are expected to drive segment growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View a free Sample Report
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Sports Equipment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.43%
YoY growth 2022-2023 (%)
APAC, Europe, North America, South America, and Middle East and Africa
US, Canada, China, Japan, and Germany
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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