ID: MRFR/CR/6611-HCR | February 2021 | Region: Global | 90 pages
Sports Equipment Market is projected to register a growth rate of 3.20% from 2019 to 2027 to reach a market size of USD 97.16 Billion by the end of 2027. Rising popularity of licensed merchandise sports equipment and growing demand for advance and high-quality products for better performance are some of the factors leading to the rise in the global sportswear market share. Moreover, a large section of young people are leading sedentary lifestyles which can lead to a multitude of lifestyle-related diseases. In order to stay fit, there is an increasing tendency to participate in sports, which, in turn, is estimated to drive the growth of the market over the review period. However, fluctuating exchange rates and the increasing presence of counterfeit products are expected to hinder the overall sports equipment market growth during the forecast period.
The sports equipment market has been segmented based on type, distribution channel, and region.
Based on type, market has been classified into balls, sticks, bats, & clubs, nets and goalposts, sports gear, and others. The balls segment is expected to be the largest and fastest-growing market during the review period.
On the basis of distribution channel, market has been divided into store-based and non-store-based. The store-based segment has further been classified as hypermarkets and supermarkets, specialty stores, and others. The store-based segment is expected to hold the larger share of the global market from 2019 to 2027. However, the non-store-based segment is expected to register a higher growth rate during the forecast period.
The global market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American market has further been segmented into the US, Canada, and Mexico.
The European market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The sports equipment industry in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Sports Equipment Market Share (%), by Region, 2019
Source: Secondary Sources and MRFR Analysis
The market in North America is expected to dominate the global sports equipment market during the forecast period. The presence of established sports equipment manufacturers, as an important part of the sporting goods industry, and the popularity of various sports including baseball, soccer, hockey, and basketball are primarily driving the regional market growth.
The Asia-Pacific sports equipment industry is expected to register the highest CAGR during the forecast period. The high growth of the organised retail sector, as well as the increasing importance of sports activities for better fitness and health, are some of the factors boosting the growth of the regional sports equipment industry. High product promotion and launch of smart sports equipment in Japan, China, and Indonesia are further adding to the regional market growth.
Global Sports Equipment Market, by Type
Global Sports Equipment Market, by Distribution Channel
Global Sports Equipment Market, by Region
|Market Size||USD 97.16 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Distribution|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kering S.A. (France), Nike, Inc. (US), ANTA Sports Products Limited (China), Adidas AG (Germany), Quiksilver, Inc. (Australia), Callaway Golf Company (US), Sports Direct International plc (UK), BPS, Direct, LLC (US), Shenzhen Taishan Sports Technology Co., Ltd (China), Globeride, Inc. (Japan), MIZUNO Corporation (Japan), Yonex Co., Ltd (Japan), Black Diamond Equipment, Ltd (US), New Balance Athletics, Inc. (US), Daei Sportswear & Equipment (Iran)|
|Key Market Opportunities||
|Key Market Drivers||The presence of established sports equipment manufacturers, as an important part of the sporting goods industry, and the popularity of various sports including baseball, soccer, hockey, and basketball are primarily driving the regional market growth.|