DUBLIN, April 12, 2022–(BUSINESS WIRE)–The “Sports Equipment Market Size, Share and Trend Analysis Report by Product (Net Ball Sets, Ball Sets, Fitness/Strength Equipment, Strength Training Equipment) ‘Sports Training), by Distribution Channel, by Region and Segment Forecast, 2022-2030’ report has been added to from ResearchAndMarkets.com offer.
The global sports equipment market size is expected to reach USD 578.9 billion by 2030 and is expected to grow at a CAGR of 6.4% from 2022 to 2030.
Rising awareness of health and fitness in general is one of the major factors driving the market. In addition, constant improvements in the materials used to manufacture sports equipment help to improve the performance of the products, thus increasing the rate of adoption. For example, with advances in sensor technologies, consumers are increasingly demanding equipment that can provide them with relevant performance information.
In addition, various research and development programs have been implemented by manufacturers to improve the quality of sports equipment. Nowadays, carbon fiber is increasingly being used in the manufacture of sports equipment, which is expected to influence the market growth positively over the forecast period. Additionally, sensor technology has evolved to such an extent that it can be incorporated into a multitude of sports equipment such as golf clubs, fishing rods, tennis rackets and swimming goggles, which will increase market growth.
The fitness/bodybuilding equipment segment is expected to grow at a rapid pace. The majority of the urban population has started adopting healthier eating habits and exercising regularly in order to stay fit. Increased awareness of acceptance of healthy lifestyles that involve optimal physical exercise is driving consumers to purchase and engage in fitness/strength activities, which is expected to drive demand for this segment over the of the forecast period.
The online retail segment is expected to register the fastest CAGR from 2022 to 2030. Online retail sales are expected to see substantial gains in the coming years due to rising consumer spending, market growth, and growth. growing use of smartphones, growing internet penetration to browse and purchase products online (including sports equipment). The market is consolidated in nature with the presence of a large number of international players and regional players.
Highlights of the Sports Equipment Market Report
Asia-Pacific is expected to contribute the majority of the revenue share to become the largest division in global revenue over the forecast years. The booming manufacturing industry in emerging economies such as India and China has resulted in abundant production of sports equipment. Not only the production, but the region is poised to prosper through the consumption of sports equipment due to the increase in disposable income and the expansion of international players in the region.
The fitness/bodybuilding equipment segment holds immense potential for development and is likely to evolve at the fastest pace. The fitness industry has grown tremendously in terms of the model of gyms as well as a holistic concept of fitness. Additionally, the COVID-19 outbreak has had a positive impact on people’s preferences for their fitness goals.
The online sports equipment retail channel is expected to be the fastest growing segment during the forecast period owing to the growing popularity and dependence of Gen Xers, Millennials and generation Z on internet and e-commerce platform. Consumers prefer online portals and official websites to buy premium products to get value-added services including convenient return policies, cash on delivery, and integrated and centralized customer services.
Main topics covered:
Chapter 1. Methodology and scope
Chapter 2. Executive Summary
Chapter 3. Sports Equipment Market Variables, Trends and Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. Sports Equipment Market: Product Estimates and Trend Analysis
Chapter 6. Sports Equipment Market: Distribution Channel Estimates and Trend Analysis
Chapter 7. Sports Equipment Market: Regional Estimates and Trend Analysis
Chapter 8. Competitive Analysis
Chapter 9. Business Profiles
For more information about this report visit https://www.researchandmarkets.com/r/gyz9ap
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220412005651/en/
Laura Wood, Senior Press Officer
For EST business hours, call 1-917-300-0470
For US/CAN call toll free 1-800-526-8630
For GMT office hours call +353-1-416-8900