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Sports Equipments Market to Witness Siginficant Incremental Opportunity During 2014-2020
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Moreover, product improvement through R&D activities and an emergence of e-commerce is likely to fuel growth of the sports equipment market in the near future. North America is the major market for sports equipment, followed by Europe and Asia Pacific. In North America, the U.S. and Canada dominate the sports equipment market. Asia Pacific is expected to be the fastest growing market for sports equipment during the forecast period.
The sports equipment market is segmented on the basis of product (ball sports, adventure sports, fitness equipment, golf equipment, winter sports, and other sports equipment) and region (North America, Europe, Asia-Pacific, and Rest of the World). In terms of revenue, the global market for sports equipment grew from USD 61,778.7 million in 2010 to USD 66,528.8 million in 2013. It is expected to grow to USD 81,821.0 million in 2020 expanding at a CAGR of 3.0%. The ball sports equipment segment is expected to be the market’s most lucrative during the forecast period. This segment is expected to grow from an estimated USD 17,592.6 million in 2014 to USD 21,778.6 million by 2020 at a CAGR of 3.6%.
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