Press release
Running Gear Market Research by New Business Expansion Plans, Regional Segments, Future Growth Potentials| 2032
Running Gear Market
Running Gear Market Size was valued at USD 19.8 billion in 2021. The running gear market industry is projected to grow from USD 22.8 billion in 2022 to USD 62.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.40% during the forecast period (2022 - 2030). One of the primary market drivers boosting market expansion is the large rise in the proportion of customers who are health-conscious due to the growing understanding of the benefits of physical activity and fitness.
Running has evolved from a simple form of exercise to a global phenomenon, with millions of enthusiasts hitting the pavement or trails every day. Alongside this growth, the running gear market has flourished, offering a wide range of apparel, footwear, accessories, and technology designed to enhance performance, comfort, and safety.
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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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Running Gear Market Regional Analysis:
Health and fitness market based companies in the running gear market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The expansion of the e-commerce sector will be a key growth driver for regional markets. However, the supply and demand gap will turn out to be a threat. For the forecast period 2017 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and health and fitness vertical based companies are spread across the United States, Canada, and Mexico.
The shifting preference for cheaper alternatives will turn out to be a major challenge from 2017 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by running gear for measuring heart rates as well as the shortage of devices due to insufficient production, suggests the report. Similarly, the health and fitness sector's segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the running gear market covers the Middle East and Africa. Forecast based on the report's findings are presented for the forecast period till 2023.
Running Gear Market Segmentation:
The health and fitness sector has seen growth across sensors, market type, and products segments owing to the focus on running and other sports and the rising participation numbers due to health consciousness. To study the market, analysts have further segmented sensors, market type, and products into sensors based on 3-axis accelerometer sensor, altimeter sensors, bioimpedance sensor, gyroscope sensor, and temperature sensor. The market is further segmented into products sub segment which is split into fitness tracker & wearable, footwear and apparel, and software. Additionally, the running gear market based on market type is segmented into departmental stores, online retail, and specialty stores.
The segmental analysis presented in the report provides health and fitness field-based organizations insights into key growth factors such as reliance on smartphone apps for online shopping as well as challenges such as increasing reliance on smart phones the market will face from 2017 to 2023. Investment in health routines and the global running gear market demand are some of the key factors having an influence on health and fitness industry-based companies, suggest analysts as per the running gear market report. But the report also identifies concerns regarding high cost and the shortage of professional services as major threats companies in health and fitness will face till 2023.
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Gone are the days of wearing a basic t-shirt and sneakers for a run. Today, runners have access to a plethora of specialized gear tailored to their specific needs and preferences. From moisture-wicking fabrics and cushioned midsoles to GPS-enabled watches and hydration packs, the evolution of running gear reflects advancements in material science, biomechanics, and sports technology. Whether you're a casual jogger, a seasoned marathoner, or a trail runner tackling rugged terrain, there's a piece of gear designed to optimize your performance and enhance your experience.
The running gear market is a dynamic and thriving ecosystem driven by innovation, technology, and consumer demand. As more people embrace running as a lifestyle and seek ways to stay active and connected, the market will continue to evolve, offering innovative gear and solutions that empower runners to achieve their goals and enjoy their journey, one stride at a time.
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