>Global Sports Equipment Market, By Type (Racing Sports, Ball Sports, Water Sports, Extreme Sports and Others), Components (Hardware and Software), Products (Ball Over Net Games, Ball Games, Fitness/Strength Equipment, Athletic Training Equipment, Protective Equipment, Footwear and Others), End-User (Commercial and Household), Distribution Channel (Online, Speciality and Sports Shops, Department and Discount Stores), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Sports Equipment Market
Data Bridge Market Research analyses that the global sports equipment market will project a CAGR of 4.20% for the forecast period of 2022-2029. Growth and expansion of merchandise industry especially in the developing economies, rising awareness about the benefits of maintaining good physical health, growing popularity of various brands and increasing personal disposable income are the major factors attributable to the growth of sports equipment market.
From the name itself, it is clear that sports equipment refers to all products or goods that facilitate successful training or performance of a particular sports activity. Sports equipment are high grade and high quality products that are used by the sportsmen during a practice or a training session or during a final performance.
Surging participation of youngsters in all kinds of sports all around the globe and rising number of product innovations are the major factors fostering growth of the sports equipment market. Rising popularity of commonwealth games and Olympics and surging awareness about the quality products will further create lucrative growth opportunities for the sports equipment market. Rising number of offline distribution channels, growing number of celebrity brand endorsements, growing health expenditure especially in the developing economies, continuous improvement in the materials used for the manufacturing of sports equipment to enhance product performance and increasing penetration of e-commerce platforms are other important factors bolstering the sports equipment market growth rate.
However, intense pricing pressure over the manufacturers and fluctuations in the prices of raw materials will pose a major challenge to the growth of sports equipment market. Premium pricing of good quality sports equipment and high competition from other counterfeit products will further derail the sports equipment market growth rate. Lack of strong distribution network in the backward areas will further restrict the scope of growth of the sports equipment market.
This sports equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on sports equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Sports Equipment Market Scope and Market Size
The sports equipment market is segmented on the basis of type, components, products, distribution channel and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of by type, the sports equipment market is segmented into racing sports, ball sports, water sports, extreme sports and others.
- On the basis of components, the sports equipment market is segmented into hardware and software.
- On the basis of products, the sports equipment market is segmented into ball over net games, ball games, fitness/strength equipment, athletic training equipment, protective equipment, footwear and others.
- On the basis of end-user, the sports equipment market is segmented into commercial and household.
- Based on distribution channel, the sports equipment market is segmented into online, speciality and sports shops, department and discount stores.
Sports Equipment Market Country Level Analysis
The sports equipment market is segmented on the basis of type, components, products, distribution channel and end-user.
The countries covered in the sports equipment market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America is dominating the sports equipment market and will continue to owing to the high market share of the products, increasing consumer spending on sports goods and increased penetration of online as well as offline channels. Asia-Pacific will continue to undergo substantial gains during the forecast period and score the highest growth rate owing to the rising participation of youngsters in national games, growing awareness about maintaining physical fitness and improving personal disposable income.
The country section of the sports equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sports Equipment Market Share Analysis
The sports equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to sports equipment market.
Some of the major players covered in the sports equipment market are Adidas, Amer Sports, Nike, BRG sports, Under Armour, PUMA SE, Fortune Brands Home & Security, Inc., Dunlop Sports Group Americas Inc., DAIWA SEIKO Co, Ltd, MIZUNO Corporation, Sports Direct International plc, Yonek Co.Ltd, Callaway Golf Company, Newell Brands, Globeride, Inc., Decathlon, The Gap, Inc., VF Corporation and New Balance, Inc., among others.
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