Sports Equipment Market Size, Trends, Outlook, Opportunities and Industry Forecast 2024 - 2031 | Nike Inc., Adidas AG, Amer Sports, New Balance Athletics

Market Overview:

The sports equipment market is estimated to be valued at USD 400.31 Bn in 2024 and is expected to reach USD 622.08 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Market Dynamics:

Rising health and wellness consciousness coupled with growing participation in sports and outdoor recreational activities are expected to drive the growth of global sports equipment market over the forecast period. According to a study, more than 50% of the adults in North America participate regularly in some form of physical activity. Sports equipment enables safe participation in various sports and helps avoid injuries, further augmenting their demand. Additionally, increasing disposable incomes in developing economies is also contributing towards the market growth, as consumers are willing to spend more on fitness and sports gear. These factors are expected to support market growth during the forecast period.

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Major Drivers for Growth of Sports Equipment Market:

Increasing Participation of People in Recreational Sports and Physical Activities

The sales of sports equipment have witnessed significant increase in recent times owing to rising health awareness among people and growing participation in recreational sports and physical activities. With growing health consciousness, more and more people are focusing on regular exercise and outdoor activities to stay fit. Sports such as badminton, golf, football, tennis, swimming etc are attracting lot of new participants which is driving the demand for associated equipment such as sports apparel, balls, rackets, bats, etc. In addition, busy lifestyle has compelled people to opt for weekend recreational sports as a stress buster which is benefiting the sports equipment market.

Major Opportunity for Sports Equipment Market:

Growing Adoption of IoT and Augmented Reality Technologies

The integration of latest digital technologies presents a massive opportunity for transforming the sports equipment industry. The adoption of IoT, augmented reality, 3D printing etc. allows equipment to be designed with smart and interactive features. For example, implementation of sensors enables real-time performance tracking of athletes along with equipment diagnostics. AR/VR enabled gear facilitates remote training, performance analysis and skill development. In addition, technologies like 3D printing provides opportunities for on-demand customization as per unique body structures and specifications of athletes. Sports brands leveraging digital advancements can offer more immersive experiences to users as well as scope for new revenue streams through interactive apps and virtual coaching programs.

Major Trend in Sports Equipment Market:

Surge in Adventure and Extreme Sports Participation

The sports market is witnessing a rising trend where non-traditional adventure and extreme form of sports are gaining immense popularity among enthusiasts worldwide. Especially youth are displaying high interest in activities involving thrill, stunts and challenges like rock climbing, paragliding, bungee jumping, sky diving, jet skiing, trail running etc. As participation grows extensively in these adventure sports, the demand is burgeoning for associated protective gear, boots, harnesses and accessories. Manufacturers are also introducing hi-tech performance wear designed for unfavorable weather conditions and terrains. To capitalize on this surging interest, brands are participating in adventure sports sponsorships and partnerships which is further fuelling the growth trajectory of the overall market.

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Top Companies Included in This Report:

★ Nike Inc.
★ Adidas AG
★ Amer Sports
★ New Balance Athletics Inc.
★ Daei Sportswear & Equipment
★ Kering S.A.
★ Sports Direct International plc
★ Black Diamond Equipment
★ Ltd
★ ANTA Sports Products Limited
★ Yonex Co.
★ Ltd
★ Adidas AG
★ MIZUNO Corporation
★ Quiksilver Inc.
★ Globeride Inc.
★ Callaway Golf Company
★ Shenzhen Taishan Sports Technology Co.
★ Ltd
★ Callaway Golf Co.
★ BPS Direct LLC
★ Yonex Co.
★ Ltd
★ Under Armour

Market Segmentation:

By Product Type:

★ By Product Type: Athletic training equipment , Ball games , Ball over net games, and Others
★ By Distribution Channel: Online retail , Specialty & sports shops , Department & discount stores, and Others

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Sports Equipment Market by Players

Chapter 4: Market Size of the Sports Equipment Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Sports Equipment Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Sports Equipment industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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