Global Sports and Leisure Equipment Market - Segmented by Product Type, Distribution Channel, and Geography - Growth, Trends and Forecasts (2022 - 2030)
The global sports and leisure equipment market is expected to register a CAGR of 4.5% during the forecast period, 2018 to 2023.
The global sports and leisure equipment industry is projected to grow at the significant growth rate during the forecast period owning to growing influence of e-commerce in sales of sports equipment across the globe. Improvement in distribution channels has enabled the industry to reach out to a wider customer base, which is expected to play key role in development of the market. Consumers are attracted towards several benefits as well as convenience such as- easy delivery, time saving and more options, is also expected to boost the market growth.
Growing Awareness towards Healthy Lifestyle to Drive the Sports and Leisure Equipment Market Growth
Rising awareness among consumers about health and fitness training equipment and the improvement in distribution channel supporting the market growth from last few years. Nevertheless, availability of counterfeit products and growing prices of original sports equipment are confining the growth of the sports and leisure equipment market to some extent. However, improvement and innovation of sports equipment products due to the demand of better quality raw material is expected to offer new opportunities for market growth in upcoming years. For example, introduction of modern materials used in badminton offer additional strength that permits better string tension. Earlier, there would be distortions in the head of the racket and it would fracture as the tension grew.
Fitness Sport Equipment to Witness Significant Growth in Upcoming Years
Due to popularity of ball sports, sports and leisure equipment market is led by ball sports equipment segment as growing popularity of ball sports such as cricket, football, hockey etc. across the globe. Development countries will witness the demand for fitness, golf, winter sports, sports, adventure sports, billiards, bowling, wheel sports, pogo sticks, and indoor games in upcoming years. Rising popularity and viewership of global sports events such as the FIFA World, Olympic Games, and Commonwealth Games is encouraging the number of sport participations across the globe. The sports and fitness equipment market is quickly accepting with new technologies such as wearable technology, big data analytics, social media and sensor technology in order to keep pace with rapidly changing global trends in the market.
Asia-Pacific Region to Witness Significant Growth during Forecast Period
Asia-Pacific holds the significant market share for sports and leisure equipment market, followed by North America. In North America, developed markets in the US and Canada dominate the sports and leisure equipment market. Growing demand for sports equipment in the developing countries of Asia Pacific is expected to show high growth prospects during the forecast period. For instance, the Chinese government is taking measures to promote social sports and increase consumption of sporting goods and services from last few years. Badminton and basketball are most popular sports in China which is likely to boost the demand of ball sports equipment in China.
Key Developments in the Sports and Leisure Equipment Market
Oct 2015: NuBells offer relief with a revolutionary new dumbbell design popular pro-style dumbbells which have two key features that free weight aficionados need—a solid steel core construction and protective outer coating available in a variety of colors. The steel core provides long-lasting durability, while the coating ensures a comfortable grip and protection for your floor.
Jun 2018: Nike opens innovative sports centre in Moscow. The innovative multi-purpose space opened offering Moscow’s youth the opportunity to be more active and enjoy the new facilities which cover a wide range of sports such as badminton, volleyball, soccer etc.
Sports and Leisure Equipment Market Competitive Landscape
Sports and Leisure Equipment Market Major Key Players are Adidas AG, Amer Sports, PUMA SE, Callaway Golf Company, Jarden Mizuno, ASICS, Billabong International, Colombia Sport, Daiwa Seiko, New Balance, Quicksilver, and YONEX Co, Ltd
Reasons to Purchase Sports and Leisure Equipment Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Sports and Leisure Equipment Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
The global sports and leisure equipment industry is projected to grow at the significant growth rate during the forecast period owning to growing influence of e-commerce in sales of sports equipment across the globe. Improvement in distribution channels has enabled the industry to reach out to a wider customer base, which is expected to play key role in development of the market. Consumers are attracted towards several benefits as well as convenience such as- easy delivery, time saving and more options, is also expected to boost the market growth.
Growing Awareness towards Healthy Lifestyle to Drive the Sports and Leisure Equipment Market Growth
Rising awareness among consumers about health and fitness training equipment and the improvement in distribution channel supporting the market growth from last few years. Nevertheless, availability of counterfeit products and growing prices of original sports equipment are confining the growth of the sports and leisure equipment market to some extent. However, improvement and innovation of sports equipment products due to the demand of better quality raw material is expected to offer new opportunities for market growth in upcoming years. For example, introduction of modern materials used in badminton offer additional strength that permits better string tension. Earlier, there would be distortions in the head of the racket and it would fracture as the tension grew.
Fitness Sport Equipment to Witness Significant Growth in Upcoming Years
Due to popularity of ball sports, sports and leisure equipment market is led by ball sports equipment segment as growing popularity of ball sports such as cricket, football, hockey etc. across the globe. Development countries will witness the demand for fitness, golf, winter sports, sports, adventure sports, billiards, bowling, wheel sports, pogo sticks, and indoor games in upcoming years. Rising popularity and viewership of global sports events such as the FIFA World, Olympic Games, and Commonwealth Games is encouraging the number of sport participations across the globe. The sports and fitness equipment market is quickly accepting with new technologies such as wearable technology, big data analytics, social media and sensor technology in order to keep pace with rapidly changing global trends in the market.
Asia-Pacific Region to Witness Significant Growth during Forecast Period
Asia-Pacific holds the significant market share for sports and leisure equipment market, followed by North America. In North America, developed markets in the US and Canada dominate the sports and leisure equipment market. Growing demand for sports equipment in the developing countries of Asia Pacific is expected to show high growth prospects during the forecast period. For instance, the Chinese government is taking measures to promote social sports and increase consumption of sporting goods and services from last few years. Badminton and basketball are most popular sports in China which is likely to boost the demand of ball sports equipment in China.
Key Developments in the Sports and Leisure Equipment Market
Oct 2015: NuBells offer relief with a revolutionary new dumbbell design popular pro-style dumbbells which have two key features that free weight aficionados need—a solid steel core construction and protective outer coating available in a variety of colors. The steel core provides long-lasting durability, while the coating ensures a comfortable grip and protection for your floor.
Jun 2018: Nike opens innovative sports centre in Moscow. The innovative multi-purpose space opened offering Moscow’s youth the opportunity to be more active and enjoy the new facilities which cover a wide range of sports such as badminton, volleyball, soccer etc.
Sports and Leisure Equipment Market Competitive Landscape
Sports and Leisure Equipment Market Major Key Players are Adidas AG, Amer Sports, PUMA SE, Callaway Golf Company, Jarden Mizuno, ASICS, Billabong International, Colombia Sport, Daiwa Seiko, New Balance, Quicksilver, and YONEX Co, Ltd
Reasons to Purchase Sports and Leisure Equipment Market Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Sports and Leisure Equipment Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
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