Sports Equipment Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

As per the study initiated by Evolve Business Intelligence, the global Sports Equipment Market size accounted for USD 352.5 Billion in 2022, growing at a CAGR of 6.4% from 2022 to 2030. The sports equipment market refers to the industry that produces and sells various types of equipment and gear used in sports and recreational activities. This market encompasses a wide range of products designed to enhance performance, safety, and overall enjoyment for athletes and sports enthusiasts.
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The sports equipment market is diverse and dynamic, influenced by factors such as technological advancements, trends in sports and fitness, consumer preferences, and innovations in materials and design. The market is driven by the demand from both professional athletes and the general population engaged in sports and fitness activities.
Key Players
Some of the major Sports Equipment Market players holding high market shares include Adidas AG, YONEX Co. Ltd., Callaway Golf Company, Nike Inc. and Amer Sports. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Puma, Sumitomo Rubber Industries Ltd. and Reebok International.
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Segmental Analysis
Based on Product, the Ports and Terminal Operation Market is segmented into Ball Games, Ball over Net Games, Fitness Equipment, Athletic Training Equipment, Protective Equipment, Footwear. The Ball Games Segment is anticipated to account for the large market share. Ball games are one of the most popular sports across the world. The revenue from this niche is noticeably higher than that from other segments. The growing popularity of cricket, basketball, and football will be a determining factor in terms of future growth.
Based on Sport Type, the Ports and Terminal Operation Market is segmented into Racing Sports, Ball Sports, Water Sports, and Extreme Sports. The Ball Sports segment is expected to hold the largest market share. The growth of this segment can be attributed to the large popularity of Ball Sports such as cricket and football.
Based on sales Channel, the Ports and Terminal Operation Market is Online Retail, Specialty & Sports Shops, and Department & Discount stores. The Specialty & Sports Shops segment is expected to hold the largest market share. These stores offer a variety of branded products and provide expert customer service to help consumers get more information about the products. This distribution channel can provide convenience as it can stock popular brands, which is enhancing its growth.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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