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Sports Equipment Market Size, Historical Growth, Opportunities and Forecast To 2025 | Grand View Research, Inc.

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Sports Equipment Market Size, Historical Growth, Opportunities and Forecast To 2025 | Grand View Research, Inc.

August 25
01:32 2021
Sports Equipment Market Size, Historical Growth, Opportunities and Forecast To 2025 | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, rapid technological advancements and continual innovations to keep pace with dynamic consumer preferences are working in favor of the market.

The global sports equipment market size is expected to reach USD 89.22 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 3.5% over the forecast period. The industry is witnessing a considerable growth across the globe owing to increasing adoption of sports and recreational activities by people for stress management and growing health awareness. Widespread media coverage of several global sports events, such as FIFA World Cup, Commonwealth Games, and Olympic Games, amplifies the popularity and expands the global reach of sports, thereby encouraging youth to take part in sports.

In recent times, government institutions are making recreational activities an obligatory inclusion in curriculum of schools and colleges. Besides this, they are taking initiatives to popularize adoption of sports activities in their countries and motivate young athletes. These initiatives include allocating substantial funds for the development of sports infrastructure, apart from organizing several sports events.

Additionally, an increase in people’s participation has been noted in various sports such as golf, basketball, and football, owing to enhanced standards of living and a greater willingness to spend on leisure activities. Emerging economies such as India, China, and Brazil are observing improvements in living standards, which is projected to boost the sports equipment market growth.

However, in recent times, a proliferation of counterfeit products, in addition to rising product prices, is estimated to negatively impact the market over the forecast period. Nevertheless, enhancement and innovation of products, thanks to usage of better quality raw materials, are poised to offer new opportunities to the market.

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Sports Equipment Market Report Highlights

 The sports equipment market is anticipated to post a CAGR exceeding 3.0% during the forecast period, on account of increasing occurrence of chronic diseases and obesity. With people across the world growing more inclined to adopt  healthier lifestyles, maintain a healthy body, and lose weight, sports is growing in popularity as a means to achieve the aforementioned objectives

 On the basis of product type, the balls game segment is expected to dominate the market throughout the forecast period. Burgeoning popularity of ball games such as football and basketball is projected to spur the growth of the segment

 Rising disposable income, convenience of shopping, and ease of internet connectivity are supporting development of the e-commerce and m-commerce industries. These factors render the process of purchasing sports equipment online more convenient for end users

 Increasing tendency/predisposition of consumers to adopt healthier lifestyles, resulting in requirement of purchasing sports equipment and other related goods, is one of the key factors propelling the market in APAC

 The market is noting intense competition owing to presence of numerous players including Nike, Inc.; Puma SE; Adidas AG; Billabong International Limited; Callaway Golf Co.; Jarden Corporation; Sports Direct International; Taishan Sports. Low entry and exit barriers in this market further contribute to increase in competition

 Companies are focusing on expanding their market presence through mergers and acquisitions and are also increasingly investing in research and development activities for improving their products for enhanced durability and comfort.

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Sports Equipment Market Segmentation

Grand View Research has segmented the global sports equipment market on the basis of product, distribution channel, and region:

Sports Equipment Product Outlook (Revenue, USD Billion, 2014 – 2025)

     Ball over net games
    Ball games
     Fitness/Strength equipment
     Athletic training equipment

Sports Equipment Distribution Channel Outlook (Revenue, USD Billion, 2014 – 2025)

     Online retail
    Specialty & sports shops
     Department & discount stores

Sports Equipment Regional Outlook (Revenue, USD Billion, 2014 – 2025)            

     North America
        • U.S.
        • Canada
        • Germany
        • U.K.
        • France
     Asia Pacific
        • China
        • India
        • Japan
        • Australia
        • New Zealand 
    • Latin America
        • Brazil
        • Mexico
     Middle East & Africa

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About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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