Press release
Sports Equipment Market Growing at 3% CAGR by 2020
According to a new market report published by Persistence Market Research “Global Market Study on Sports Equipment: Ball Sports to be the largest segment by 2020”, the global Sports Equipment market was valued at USD 66,528.8 million in 2013 and is expected to expand at a CAGR of 3.0% from 2014 to 2020, to reach USD 81,821.0 million by 2020.
North America holds the largest market share for sports equipment, followed by Europe and Asia Pacific. Developed markets in the U.S. and European countries dominate the sports equipment market. The U.S and Canada are the largest markets for sports equipment in North America. According to the United Nations World Tourism Organization (UNWTO), in 2010, Europe, Latin America, and North America together accounted for approximately 70% of the global adventure sports segment. Demand for sports equipment in the developing economies of Asia Pacific is expected to show high growth prospects during the forecast period. Countries such as Japan, China, India, and Australia are witnessing rapid economic growth, which, in turn, is further expected to drive the sports equipment market in this region.
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The sports equipment market is segmented on the basis of product (ball sports, adventure sports, fitness equipment, golf equipment, winter sports, and other sports equipment) and region (North America, Europe, Asia Pacific, and Rest of the World). In terms of revenue, the global market for sports equipment grew from USD 61,778.7 million in 2010 to USD 66,528.8 million in 2013. It is expected to grow to USD 81,821.0 million in 2020 expanding at a CAGR of 3.0%. Ball sports hold the largest share in the sports equipment market. This segment is projected to increase from USD 17,592.6 million in 2014 to USD 21,778.6 million in 2020, at a CAGR of 3.6%.
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The sports equipment market is fragmented with several players, including Amer Sports, Adidas AG, Callaway Golf Company, PUMA SE, Cabela’s Incorporated, GLOBERIDE, Inc., MIZUNO Corporation, Nike Inc., Jarden Corporation, and YONEX Co., Ltd.
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