The global sports equipment market is expected to grow at a significant rate during the forecast period owing to the increasing adoption of sports and other recreational activities by people for stress management. Further, the health benefits associated with sports is also a major driver for the growth of global sports equipment market. The increasing per capita disposable income has also created greater willingness to spend on leisure activities among consumers. Increasing participation in sports activities, especially in schools and colleges is anticipated to drive the growth of sports equipment market by 2028.
Additionally, the manufacturing companies are coming up with new product improvement which is further creating the demand for sports equipment among global consumers. Sports is also a form of exercise and with growing prevalence of obesity around the world, people are getting indulged in sports. The popularity of sports events such as FIFA World Cup, Commonwealth Games and Olympic Games is encouraging youths to take part in sports. Hence, this is further supporting the growth of sports equipment market, globally.
Global sports equipment market can be segmented based on
Based on distribution channel, the global sports equipment market is segmented into online retail, specialty & sports shops and department and discount retailers. The online channel is expected to dominate the global market owing to the increasing usage of mobile phones and other electronics by people to browse for and shop online.
Major companies operating in the global sports equipment market include Adidas AG, Amer Sports, Callaway Golf Co., Sumitomo Rubber Industries Limited, Nike, Inc., Puma SE, Mizuno Corporation, Sports Direct International PLC, Under Armour and Yonex Co., Ltd, among others. Leading sports equipment companies are undertaking growth strategies like mergers and acquisitions to increase their market share and global reach.
Objective of the Study
- To analyse and forecast the market size of global sports equipment market.
- To forecast global sports equipment market based on sports type, product, end use, distribution channel, company and regional distribution.
- To identify drivers and challenges for global sports equipment market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global sports equipment market.
- To identify and analyse the profile of leading players operating in the global sports equipment market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of sports equipment companies across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the vendors which could not be identified due to the limitations of secondary research.
Market insights research calculated global sports equipment market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by Market insights research.
Key Target Audience
- Sports equipment manufacturing companies/partners
- Suppliers/Distributers
- End-Users
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to sports equipment market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as sports equipment manufacturing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
