SPORTS EQUIPMENT MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The sports equipment market is estimated to be valued at USD 400.31 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. The global sports equipment market has witnessed substantial growth over the past few years owing to increasing participation in sports and fitness activities among people across the world. Various factors, such as rising health awareness, growing urbanization, and improving living standards, have encouraged individuals to actively engage in sports and incorporate physical exercise in their daily routine. This has significantly boosted the demand for high quality sports equipment from both amateur and professional players. Manufacturers are launching innovative products with improved design and features to attract new customers. The market is expected to grow at a steady pace during the forecast period due to ongoing product premiumization and growing interest of young population in different games and workouts.

Market Dynamics:

The key drivers contributing to the growth of the global sports equipment market include increasing spending on health and wellness, rising number of health clubs and gyms, and growing middle class population with higher discretionary incomes. Moreover, ongoing innovations in material sciences and technologies have led to the development of equipment with enhanced performance and durability. Rising popularity of sports in developing countries presents significant business opportunities for existing as well as new players. However, the availability of low-cost counterfeit products continues to limit the revenues of established brands. Also, increasing trade tariffs amongst major economies may hamper the cost competitiveness of the market. Going forward, the integration of smart technologies and focus towards eco-friendly production methods will shape the market dynamics.

Key Features of the Study:

• This report provides in-depth analysis of the global sports equipment market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global sports equipment market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include 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. and Under Armour.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global sports equipment market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sports equipment market.

Detailed Segmentation-

• By Product Type:
• • Athletic training equipment
  • Ball games
  • Ball over net games
  • Others
• By Distribution Channel:
• • Online retail
  • Specialty & sports shops
  • Department & discount stores
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • 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