Running Gear Market Size, Opportunities, Revenue, Industry Trends | Top Key Players - Apple Inc, Adidas

Market Overview

With a CAGR of 15.4%, the running gear market will be worth USD 62.03 billion by 2030.

The accessories and outfits that people use when jogging or participating in similar activities are referred to as running gear. It mostly consists of athletic wearables like shoes, goggles, gloves, jackets, tights, and smartwatches. To minimize skin chafing and wind or rain penetration, goods like gloves and coats are often skin-fit and composed of water-resistant materials. Running gear also acts as a protective layer, lowering the risk of injury and improving airflow while engaging in any physical activity.

Due to the spike in disposable income, customers are becoming more and more motivated to use cutting-edge technologies. Due to this, products have become more expensive and have been quickly incorporated into consumers' regular exercise routines like jogging. To draw in new customers, manufacturers are also putting stylish patterns and premium materials into their running clothes. Additionally, the growing popularity of marathons running on a global scale and manufacturers' active social media marketing campaigns are fueling the expansion of the athletic gear market.

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Consumer behavior is significantly different around the world, and consumers are adjusting to the changing norms. Consumer purchasing habits, behavior, and opinions have been impacted by COVID-19. Shopping is becoming more ethical, with an emphasis on necessities and locally produced items. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policies. Covid-19 consistently affects 9 out of 10 people's purchasing habits.

Market Segment

● By Sensor Type

Throughout the forecast, the 3-axis accelerometer sensor will dominate the running gear market in terms of sensors.

● By Products

Over the projection period, the software will dominate the running gear market in terms of product.

● By Market Type

Over the projection period, the running gear market will be dominated by online retail.

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Regional Analysis

Throughout the forecast period, North America is anticipated to hold a sizable portion of the market. This is because athletes frequently take this. One of the most recent developments in the area is the production of running apparel. This combines casual and sporty looks, and it is expected to significantly boost the market. Increased interest in adopting healthy lifestyles is anticipated to boost demand for various running apparel in the country throughout the forecast period. This will entice consumers to purchase and engage in fitness/strength activities.

Key Players
Apple Inc. (U.S.)
Samsung Electronics Co Ltd. (South Korea)
Suunto (Finland)
Altra Running (U.S.)
Adidas (Germany)
Garmin International (U.S.)
Seiko Epson Corporation (Japan)
Stryd (U.S.)
Xiaomi Inc. (China)
Lumo Bodytech (U.S.)
Fitbit (U.S.)
Sensoria Inc. (U.S.)

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Industry News

Nike has announced the opening of 15 locations in the United States in 2021 as part of its innovative "Nike Refurbished" service, which will allow customers to return Nike shoes within 60 days of purchase and have their shoes transported to a specialized team.

Puma will launch its New Cushioning Tec, developed in collaboration with the MIT Design Lab, on its Lifestyle Running Shoe in 2020. The Xetic invention from Puma is a revolutionary cushioning platform that resembles 3-D printing but is built of foam rather than plastic.

Under Armour announced the introduction of Curry in 2020 in collaboration with NBA player Stephen Curry. The company introduced athletic footwear and clothing for basketball, golf, and other sports.

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