DUBLIN--(BUSINESS WIRE )--The "Sports Equipment Market Size, Share & Trends Analysis Report by Product (Ball Over Net Games, Ball Games, Fitness/Strength Equipment, Athletic Training Equipment), by Distribution Channel, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global sports equipment market size is expected to reach USD 578.9 billion by 2030 and is expected to expand at a CAGR of 6.4% from 2022 to 2030.
Rising awareness regarding general health and fitness is one of the primary factors driving the market. Also, constant improvements in materials used for manufacturing of sports equipment are helping enhance product performance, thereby boosting the adoption rate. For instance, with advancements in sensor technologies, consumers are increasingly demanding equipment that can provide them with relevant insights into performance.
Moreover, various research and development programs have been introduced by manufacturers to improve quality of sports equipment. Nowadays, carbon fiber is increasingly used in manufacturing sports equipment, which is projected to positively influence the growth of the market over the forecast period. Additionally, the sensor technology has evolved to 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 augment the growth of the market.
The fitness/strength equipment segment is anticipated to grow at a fast pace. Majority of urban population has begun to adopt healthier eating habits and taking up regular physical exercise in order to stay fit. Increasing awareness regarding accepting healthy lifestyles that involves optimal physical exercise inspires consumers to purchase and indulge in fitness/strength activities, which is expected to contribute to the demand for this segment over the forecast period.
The online retail segment is expected to register the fastest CAGR from the year 2022 to 2030. Online retail sales are expected to witness substantial gains in the coming years on account of rising consumer spending, increasing usage of smartphones, rising penetration of internet to browse and shop online for products (including sports equipment). The market is consolidated in nature with the presence of a large number of international players and regional players.
Sports Equipment Market Report Highlights
Chapter 3. Sports equipment Market Variables, Trends & Scope
Chapter 5. Sports equipment Market: Product Estimates & Trend Analysis
Chapter 6. Sports equipment Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. Sports equipment Market: Regional Estimates & Trend Analysis
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900