Sports Equipment Market is driven by Growing Participation in Sports and Fitness Activities
Sports equipment today forms an integral part of various sporting activities and leisure pursuits, ranging from traditional sports like football, basketball, baseball, tennis, and cricket to extreme sports and adventure activities like trekking, cycling, skiing and snowboarding. Sports and outdoor activities have numerous health and social benefits and participation in such activities has been steadily growing across both developed and developing nations. This rise in participation drives substantial demand for quality sports gear and equipment that offers improved performance and safety. Advances in material science and manufacturing technologies have enabled innovation and development of high-performance sports products that enhance athlete experience and abilities.
The Global Sports Equipment Market is estimated to be valued at US$ 622.08 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period from 2024 to 2031.
Sports Equipment Market Size includes items like athletic apparel, footwear, equipment, and gear used for sports and fitness activities by participants as well as for training purposes. Key product segments include apparel, footwear, equipment, and others. Growing health awareness and focus on wellness has bolstered participation in sports and exercise globally. This rising demand for sports and fitness activities is a major factor propelling the sports equipment industry.
Key Takeaways
Key players operating in the sports equipment market are Nike Inc., Adidas AG, Amer Sports, New Balance Athletics, Inc., Daei Sportswear & Equipment, Kering S.A., Sports Direct International plc, Black Diamond Equipment, Ltd, ANTA Sports Products Limited, Yonex Co., Ltd, Adidas AG , MIZUNO Corporation, Quiksilver, Inc., Globeride, Inc., Callaway Golf Company, Shenzhen Taishan Sports Technology Co., Ltd, Callaway Golf Co., BPS Direct, LLC, Yonex Co., Ltd, and Under Armour. Nike and Adidas dominate the global market with major market shares.
Growing health awareness and increasing participation in sports and fitness activities globally is driving robust demand for high-quality sports gear. Rising numbers of recreational and amateur athletes are boosting sales of sports apparel, footwear, and equipment. Moreover, consumer preference for technologically advanced products that enhance performance is a key factor shaping market trends.
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