Sports Equipment Market: Global Industry Overview and Forecast (2024-2030) Trends, Dynamics, Segmentation

Sports Equipment Market Overview:

Sports equipment, refers to gear, clothing, tools, and equipment used in sports competitions and varies based on sport. The materials used vary from protective gear, nets and balls. Sports equipment can be used as a tool or protective gear to assist athletes in playing the sport. Over the years, these devices have evolved as sports have begun to require more protective gear to prevent injury. Sports equipment can be found at any department store or specialty sports equipment stores.

 

Sports Equipment Market report examines the market's growth drivers and segments (Conductive Material, Application, End-User, and Region). Data has been provided by market participants and regions (North America, APAC, Europe, MEA, and South America). This market study takes an in-depth look at all of the significant advancements occurring across all industry sectors. To provide key data analysis for the historical period (2017-2020), statistics, infographics, and presentations are used. The report examines the Sports Equipment markets, Drivers, Restraints, Opportunities, and Challenges. This SMR report includes Sports Equipment investor recommendations based on a detailed analysis of the current competitive landscape of the Sports Equipment market.

 

 

To get more Insights: Request Free Sample Report

 

COVID-19 Impact on Sports Equipment Market:

The Covid-19 epidemic has had a devastating effect on a number of industries, including the athletics and fitness industry. Many tournaments and sporting events, including the Olympics, have been postponed or their format changed. As a result, market participants are trying to assess the underlying impact of cash flow disruption, insecurity, and the potential decline in arrival and long-term engagement.

 

Sports Equipment Market Dynamics:

Continuous innovation and rapid technological advances in line with the changing consumer preferences drive Sports Equipment market growth. Increased awareness of the benefits of a healthy lifestyle and the importance of sports and physical activity, stimulates the growth of sports equipment market.

 

Increasing popularity of national and international events, such as the Soccer World Cup, the Olympic Games, and the Cricket World Cup, is also accelerating the growth of the sports equipment market. Growing cases of lifestyle-related health problems, such as stress and obesity, are forcing more people to do outdoor and strenuous activities and this increases the need for a variety of fitness and sports equipment. The growing availability of world-famous sportswear products also contributes to the demand for the product. Women's participation in sports is a major factor that can rise the sports eqipment market growth. According to the BBC, the difference between the number of men and women participating in sports in England has dropped to 1.55 million in 2018.

 

The gap is expected to shrink in the coming years and this will have a positive impact on the demand for sports equipment. Spending on such items has gradually increased over the years as a result of growing awareness of the benefits of these games in their physical development. India and China are the most lucrative  sports equipment market. Rising incomes and improved consumer living standards are important factors that accelerate product demand in these countries. In addition, low production costs and a successful manufacturing industry are likely to further market growth in Asia Pacific.

 

Companies are trying to increase market penetration by increasing brand awareness through TV and print ads, the Internet, social media, team support, and relationships with various athletic athletes who are interested in fitness. In addition, promoters of social media and sports professionals are advocating for a variety of brands that may contribute to the growth of the sports equipment market.

 

 

 

Sports Equipment Market Segment Analysis:

By Product Type, the football sector dominated the sports equipment market and had a significant revenue share of 34.0% in 2023. As football matches are the most watched in the world, the revenue from this segment is much higher than in other segments. The segment is expected to testify to a CAGR of more than 6.3% over the forecast period. The growing global popularity of events such as cricket, basketball, and soccer are expected to be one of the key factors contributing to the growth of the category.

 

On the other hand, part of the strength / strength equipment is expected to prove a very high CAGR during the forecast period. In recent times, there has been a dramatic change in the way people live in urban areas, due to their robustness, complexity, and operating culture. The growth of health concerns coupled with rising consumer income increases their athletic inclination and stamina.

 

By Distribution Channel, the share of specialty and sports stores dominated the sports goods market and accounted for a budget of 45.0% in 2023. These stores have a comprehensive portfolio of branded products and provide much-needed support and information to consumers through professional customer service staff. In addition, the usability provided by this distribution channel and its ability to acquire popular products added to the growth of this segment.

 

Half of online stores are expected to register a CAGR of 7.4% in the sports equipment market from 2022 to 2030. Increased internet penetration among consumers and targeted marketing by companies to reach all customer contact areas is likely to accelerate the growth of this segment. In addition, the increasing use of smartphones, the increase in consumer spending, the growing online penetration and online shopping from e-commerce platforms are factors that may drive partial growth in the forecast period.

 

 

Sports Equipment Market Regional Insights:

In 2021, North America held the largest Sports Equipment market share. The presence of key industrial players, increased acceptance of the Sports Equipment market. North America region had held a substantial share of revenue of 31.7% by 2021. The growing popularity of sports such as football, basketball, etc., encourages the district government to establish stadiums and provide improved sports knowledge. to citizens. This is expected to create a positive market perception of market growth in the forecast period.

 

In Asia Pacific, the sports equipment market is expected to witness a very high CAGR of 7.3% over the forecast period. By 2021, Asia Pacific countries registered a rapid increase in sales of durable equipment due to COVID-19. India has also made significant strides in foreign missions over the past few years due to the growing popularity of the games and the rising number of related leagues.

 

While, a great demand in Australia may be due to the growing focus on sport. In addition, growing consumer spending and consumer spending on all emerging markets such as India, China, and Middle Eastern countries are expected to boost the demand for sporting goods. These countries also hosted various athletic events and developed infrastructure to attract more people to participate in many sporting events, which in turn stimulated the growth of the Asia Pacific market.

 

The objective of this report is to present an in-depth analysis of the Sports Equipment Market to industry stakeholders. The report provides the recent trends in the Sports Equipment Market and how these factors will impact on new business investment and market enhancement during the forecast period. The report also provides an understanding of the potential of the Sports Equipment Market and the competitive structure of the market by analyzing market leaders, market fans, and regional players.

 

The quality and quantity data provided in the Sports Equipment Market report assist the readers to understand which market Conductive Materials, regions are expected to grow in value, market factors, and key opportunity areas, which will impact industry growth and predictable market growth with respect to time. The report includes the competitive status of key competitors in the industry and their recent developments in the Sports Equipment Market. The report also provides a comprehensive set of factors such as company size, market share, market growth, revenue, production capacity, and profits of key players in the Sports Equipment Market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Sports Equipment Market is easy for a new player to gain an edge in the market, do they come and go in the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political factors that help in analyzing how much a government can impact the Market. Economic variables assist in the calculating economic performance drivers that can affect the Market. Analyzing the impact of the overall environment and the impact of environmental concerns on the Sports Equipment Market is aided by legal factors.

 

Sports Equipment Market Scope:

Sports Equipment Market
Market Size in 2023	USD 399.18 Bn.
Market Size in 2030	USD 616.25 Bn.
CAGR (2024-2030)	16%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Product Type Football Basketball Cricket Others
	by Distribution Channel Specialty Stores and Sports Shops Online Departmental and Discount Stores
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Sports Equipment Market Key Players

1. Adidas AG (Germany)
2. Amer Sports (Finland)
3. Callaway Golf Co. (US)
4. Sumitomo Rubber Industries Limited (Japan)
5. Nike, Inc. (US)
6. Puma SE (Germany)
7. Mizuno Corporation (Japan)
8. Sports Direct International PLC (UK)
9. Under Armour (US)
10. Yonex Co., Ltd (Japan)
11. Beat All Sports (India)
12. Sanspareils Greenlands Pvt Ltd (India)
13. Reebok (US)
14. Asics (Japan)
15. Nivia Sports (India)