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Sports Equipment Market to register a growth rate of 3.2% from 2019 to 2024

07-09-2020 02:40 PM CET | Sports

Press release from: Market Research Future

Sports Equipment Market

Sports Equipment Market

Sports equipment are used for enhancing the training. The rise in physical disorders has spread awareness about the benefits of exercise and improving appearance, which has gradually increased the demand for specialized sports equipment and has helped the market in getting more robust with time. On witnessing the current trends, the global sports equipment market is expected to show nearly 03.5 % annual growth on global levels.

With the popularity of sports equipment, the demands for the advanced products is also increasing, which is good news for the market but also keeps the market players busy to keep up the research & development measures. The global sports equipment has limitless fields like golf, ball sports, winter & adventure sports and others. The governmental authorities are making the sports activities mandatory at school levels to increase the awareness about the fitness and motivating them, which is largely beneficial for the market concerning present and future aspects.

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Also, the global forecast of world level and regional level sports activities is attracting and motivating people towards new sports, which is useful for the widening of the sports market’s area. With the rising graph of the global sports equipment market, the challenges like increasing equipment prices and the presence of fake products are damaging the market’s growth rate. Apart from these factors, the companies are regularly working towards developing the quality of products and better training equipment.

Market Segments of Sports Equipment global market

The global sports equipment market is segmented into two parts:

Types: Fitness & training equipment, balls, sticks, nets, sports gear and others are the types of sports equipment available.

Distribution channels: Sports equipment are available through offline and online portals.

Recent Industry News

The global sports equipment market apart from success is facing the challenge from fake products market and rising prices. The offline supply from brand stores, supermarkets and other medium is expected to stay at the top, but the online supply will be the fastest-growing distribution channel during the survey period. The American region will maintain its lead, but the Asia Pacific region will emerge as the fastest-growing market during this time frame.

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Regional Market Summary

The global sports equipment market is observed based on four major regions, namely, America, Europe, Asia Pacific and The Middle East & Africa.

The American region is the current market leader period. Increasing sports activities, presence of advanced training facilities and key market players in this region are some of the factors boosting the market here. This region will lead the tally in the observation period. The European region is the second-largest market due to increasing health issues from unhealthy lifestyles, handsome production capabilities and other factors.

The Asia Pacific region is the third-largest market and will emerge as the fastest growing market due to the large population base, rise in per capita incomes, increasing awareness and other reasons.

Rest of the regions are growing slowly as compared to other markets due to limited disposable incomes.

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