NEW YORK, Feb. 23, 2024 /PRNewswire/ — The sports turf market size is forecast to increase by USD 3,284.74 million from 2022 to 2026, at a CAGR of 11.98%, according to the recent market study by Technavio. The market is segmented by type (private sports facilities, schools/colleges and universities, and professional world class stadiums), product (PP sports turf, PE sports turf, and nylon sports turf), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The private sports facilities segment will be significant during the forecast period. Indoor sports complexes, golf clubs, tennis clubs, equestrian centers, and sports training facilities are all examples of private sports facilities. These facilities invest in high-quality sports turf to provide a suitable playing surface to their members or users and should consider factors such as the type of sport, maintenance requirements, budget, and user preferences when selecting sports turf for their facility. Hence, such factors will contribute to the growth of the segment during the forecast period. To get detailed insights about inclusions and exclusions, buy the report
Technavio has announced its latest market research report titled Global Sports Turf Market 2023-2027
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.98% |
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Market growth 2023-2027 |
USD 3.28 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
11.5 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 36% |
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Key countries |
US, China, Germany, France, and UK |
The growth of the market will be driven by increasing sports sponsorship spending, the increasing awareness among stadium owners regarding low-cost maintenance of sports turf, and the advances in technology for developing artificial sports turf. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download Sample Report
Technavio has extensively analyzed 15 major vendors, including AstroTurf Corp., Avalon BV, Bellinturf , Berkshire Hathaway Inc., Challenger Turf Inc. , CoCreation Grass Corp., Controlled Products LLC, DuPont de Nemours Inc., FieldTurf USA Inc., Global Syn Turf Inc., GTR TURF Inc., Hellas Construction Inc, Leling Taishan Artificial Turf Industry Co. Ltd., Mondo Spa, Polytan GmbH, Sport Group Holding GmbH, Sports Turf and Golf Enterprises, Sprinturf, SYNLawn, and TenCate Grass Holding bv. Get a holistic overview of the Sports Turf Market by industry experts to evaluate and develop growth strategies. Download the Sample
Key Benefits for Companies
The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future – To get requisite details, ask for a custom report.
The increasing demand for outdoor sports
Various government bodies, due to the shortage of water, have imposed restrictions on landscaping services such as landscape irrigation. Resultantly, the demand is increasing year over year. Also, with the growing consumer interest in sports, various athletics tracks, golf courses, and stadiums for soccer and basketball, have been developed in recent years. Hence, such factors drive the market growth during the forecast period.
Analyst Review
The Market is experiencing a surge driven by technology advancements and the demand for low-cost maintenance solutions. Artificial sports turf has gained prominence, particularly in regions facing water shortage, prompting government bodies to advocate for its use. Stadium owners are increasingly investing in landscaping services and landscape irrigation to ensure the durability of their sports facilities. Health and safety concerns have underscored the importance of high-quality turf, especially in baseball, soccer stadiums, and basketball stadiums. Grass turf remains a staple in traditional sports like rugby and hockey, although its maintenance costs are higher. With athletics tracks and golf courses also embracing turf innovations, the market anticipates robust growth in the coming years.
The market is poised for significant growth in the forecast period, driven by increasing demand for hybrid grass turfs and synthetic reinforcing fibers in stadium, training, and sports pitches. Weather conditions pose challenges to natural grass fields, leading to grass damage and rupture, necessitating grass restoration. The playing hours and cost of maintaining grass influence the return on investment for turf solutions, while minimizing injury risk to tendons and ligaments in professional sports. Turf innovations aim to reduce recovery time for athletes, making hybrid grass turfs and synthetic fibers crucial for sustainability and performance. Vendors in this market offer diverse solutions tailored to various sports needs.
The Market is witnessing a surge in demand, driven by various factors including concerns over carcinogens present in traditional turf materials like crumb rubber infills and carbon black. Instances of lead contamination in scrap tire-based turfs have prompted governments to consider regulations, with some cities like Boston even mulling over an artificial turf ban in parks. Market reports indicate a shift in purchase criteria, with consumers prioritizing toxic chemicals-free alternatives. Understanding the adoption lifecycle is crucial, from the innovator’s stage to the laggard’s stage, to gauge adoption rates and penetration. Companies must navigate price sensitivity and employ effective growth strategies to capitalize on the burgeoning market. Download the Sample
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The sports apparel market size is estimated to grow at a CAGR of 6.82% between 2022 and 2027. The market size is forecast to increase by USD 75.6 billion.
TOC
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.
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SOURCE Technavio
