Sports Equipment Market Size, Grow to $412.1 Billion by 2032 | CAGR 4.5% | Analysis and pure information

The global sports equipment market was valued at USD 250.3 billion in 2021 and it is expected to reach USD 412.1 billion at a CAGR of 4.5% during the forecast period.

MILWAUKEE, WISCONSIN, USA, August 24, 2022 /EINPresswire.com/ — According to a market report published by Sheer Analytics and Insights, the global sports equipment market was valued at $250.3 billion in 2021 and is expected to reach $412.1 billion at a CAGR of 4.5%. during the forecast period. Over the past few years, the global sports equipment market has witnessed significant growth owing to the increase in the number of participants in numerous sports activities and the growing consumer awareness of health and fitness. Moreover, e-commerce is also emerging, which is another key driver for market growth. However, many sports equipment such as ball sports, adventure sports, summer sports, winter sports and other sports equipment are increasing due to the growing demand in developing countries. This growing demand is fueling the market and is expected to provide growth opportunities over the coming years. There are other sports equipment such as bowling, wheel sports and pogo sticks, indoor and outdoor games. These verities of sports equipment are witnessing growing demand in several regions which will drive the market in the coming years. Therefore, major players are producing more new sports equipment products for their large number of users.

Nowadays, youngsters all over the world are encouraged by several sports activities and tournaments such as Olympic Games, Commonwealth Games, FIFA World Cup, etc. These sports require equipment developed by sports industries. Moreover, these sports industries are adopting advanced technologies and trying to adapt their innovative products to keep pace with rapidly changing global trends. Moreover, the governments of several countries are supporting the major players in their countries by creating more investments associated with R&D activities. Along with this, e-commerce is also growing these days. These major factors are likely to accelerate the growth of the market in the future. Manufacturing companies in several countries receive multiple government support, particularly for research and development. This would develop the sports equipment and transform it into innovative products according to the preferences of each sportsman.

Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/sports-equipment-market-21

Various types of diseases are on the rise among a large number of young people these days. Thus, the younger generation is ready to change its way of life and to move towards several physical and sporting activities. In doing so, they want to be fit and recover from chronic illnesses. This main factor is helping the market grow in various regions. Additionally, new developments in sports equipment, latest trends in sports life, multiple consumer preferences and new sports products in developing countries are driving the global sports equipment market to acquire more growth opportunities. in the future. Urbanization and income growth are some of the other factors contributing to the potential of the sports equipment market. These are expected to propel the market with significant growth over the next few years from 2022 to 2032.

A few years ago, the outbreaks of COVID-19 began. This epidemic situation has for a time shaken the growth of the sports equipment market. Manufacturing companies had to stop production due to complete shutdowns. This was the major reason hindering the growth of the market during this period. Also, in some developing countries, people think that sports equipment is expensive, so they cannot afford to buy sports accessories. So it can hamper the market. Another challenge is the fluctuating exchange rates for some time. This could be a reason for hampering the growth of the market.

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Some novelties on the sports equipment market:

In 2022, Dior and Technogym are jointly launching a range of refined sports equipment. The limited-edition collection includes a treadmill, workout bench, and exercise ball, among others.
In 2022, UMBRO launched youth sportswear and equipment at JCPENNY. This new collection includes clothing for boys and girls, as well as soccer balls and cleats, and would include classic Umbro styles such as plaid jerseys and shorts.
In 2022, Wilson Sporting Goods launched a performance-based tennis collection. This would provide top-selling styles with new technical parts, designed to perform at the highest level on and off the pitch.
Hence, these new launches are expected to boost the growth of the global sports equipment market during the forecast period of 2022 to 2032.

According to the study, the major players dominating the global sports equipment market are Adidas AG (Germany), ASICS Corporation (Japan), Anta International Group (China), Callaway Golf (USA), Columbia Sportswear (USA) , FILA Holdings (South Korea). ), Financière Pinault (France), Iconic Brand Group (United States), Li-Ning (China), Lululemon Atheletica (Canada), MASH HRX Company (India), Holdings Limited (United Kingdom), Mizuno (Japan), Nike (USA), Polar Electro (Finland), Sumitomo Rubber Industries (Japan), Under Armor (USA), Yonex (Japan), VectorX (India), VF Corporation (USA), among others.

The global sports equipment market has been segmented into:

The global sports equipment market – by product type:

1) Play Equipment

Balls
Flying discs
Goal posts
Nets
Snowshoes
Rods and tackle
Sticks, bats and clubs
Counters and bases

2) Player equipment

Shoe
Protective equipment
Training equipment
Special sports equipment

The global sports equipment market – by distribution channel:

Online retail
Offline Sports
Specialty and sports shop

Department stores and discount stores

The global sports equipment market – by type of sport:

locust
Soccer/ Soccer/ Rugby
Hockey
Athletics
Boxing/ Wrestling
Badminton
Others

The global sports equipment market – by regions:

North America

WE
Canada
Mexico

Europe

Germany
France
Italy
UK
Russia
Rest of Europe countries

Asia Pacific

India
China
Japan
South Korea
Australia
Rest of Asia-Pacific

LAMEA

Brazil
Saudi Arabia
Rest of LAMEA

Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/sports-equipment-market-21

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