NEW YORK, Oct. 27, 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 Sample before buying
Technavio has announced its latest market research report titled Global Sports Equipment Market 2023-2027
Company Offering:
Adidas AG – The company offers sports equipment such as home workout kits, football gear.
ANTA Sports Products Ltd. – The company offers sports equipment such as Anta Knit Running Cap, Anta Running Gloves, Anta Neck Warmer.
ASICS Corp. – The company offers sports equipment such as marathon running shoes, tennis shoes and many other training shoes.
For details on companies and their offerings – Buy the report!
By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market.
· APAC is estimated to account for 34% of the global market growth during the forecast period. The increasing popularity of a wide range of sports in countries like China, Japan, India, and South Korea is one of the primary factors contributing to the growth of the global sports equipment market in APAC. Moreover, the rise in tourism in the region has had a positive impact on the market growth. Several countries such as China, Japan, and Australia are investing in developing world-class sports infrastructure and hosting international sporting events, which is advantageous as it not only attracts athletes and spectators from around the world but also generates a heightened interest in sports among the local population.
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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
Market Segmentation
The ball games segment is estimated to witness significant growth during the forecast period. The global market for sports equipment includes a variety of ball games that contribute to its growth. These games are enjoyed by people of all ages and skill levels and involve the use of a ball as the central element. Football is one of the most popular ball games and is played in nearly every country, with a massive following. This is because football requires minimal equipment, primarily just a ball, which makes it accessible to a wide range of people. As a result, the growth of this segment is expected to continue, driving market growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
Related Reports:
The in-the-water sports equipment market size is estimated to grow at a CAGR of 4.43% between 2022 and 2027. The market size is forecast to increase by USD 6,085.46 million.
The smart sports equipment market size is estimated to grow at a CAGR of 22.12% between 2022 and 2027. The market size is forecast to increase by USD 19,159.7 million.
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Sports Equipment Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.43% |
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YoY growth 2022-2023 (%) |
5.11 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Key countries |
US, Canada, China, Japan, and Germany |
TOC:
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 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
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SOURCE Technavio
