Global Sports Equipment Market 2016-2020
Market outlook of the sports equipment market
Technavio's research analyst predicts the global sports equipment market to grow at a CAGR of around 3% during the forecast period. The increased awareness of a healthy lifestyle is a key driver for the growth of this market. A hectic lifestyle coupled with rising health issues such as obesity has created a demand for fitness-related sports equipment. The growing concerns over obesity have led the WHO to declare it formally as a global epidemic. For instance, during 2013, New Zealand accounted for 38% of the world obese population.
The rising demand for lightweight sports equipment is also expected to propel the market growth during the forecast period. Modern lightweight sports equipment help consumers yield high performance due to their excellent stiffness and high strength. Moreover, they also give full control to the user over the equipment and provide them with a high level of flexibility. Carbon fibre is emerging as a popular replacement for traditional metal, wood, and steel in modern sports equipment.
Product segmentation and analysis of the sports equipment market
The ball sports segment dominated the market during 2015, with a market share of 24%. The global popularity of sporting events such as cricket, basketball, and football is the key growth driver for this segment. This research report anticipates the ball sports equipment market to reach a market value of around US $20 billion by the end of 2020.
Segmentation by retail format and analysis of the sports equipment market
Speciality and sports shops
Department and discount stores
Speciality and sports shops accounted for 46% of the market share during 2015. The convenience provided by this distribution channel and its ability to stock popular brands have been driving the growth of this segment. Moreover, these stores provide consumers with numerous discounts on the equipment driving their popularity further.y
Geographical segmentation and analysis of the sports equipment market
North America accounted for around 38% of the market share during 2015 and is expected to reach a revenue of around US $ 31 billion by the end of 2020. People are increasingly becoming health conscious, and there is a growing problem of obesity in the region. Consequently, a greater number of people engage in one or the other sporting activity to remain fit and healthy, which is boosting the growth of the sports equipment market. The growing health related issues in this region has been driving the market growth. For instance, according to Organisation for Economic Co-operation and Development (OECD), around 35% of the American adults were considered to be obese during 2014.
Competitive landscape and key vendors
The global sports equipment market is highly fragmented due to the presence of numerous small and large vendors. With rising competition, the industry has been witnessing consolidation wherein smaller entities are being acquired by or merged with major players.
The leading vendors in the market are -
Other prominent vendors in the market include ASICS, Billabong International, Callaway Golf C, Columbia Sport, Daiwa Seiko, Dunlop Sports Group Americas, New Balance, Puma SE, Quicksilver, Yonex.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global sports equipment market?
What are the key market trends impacting the growth of the sports equipment market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global sports equipment market?
Trending factors influencing the market shares of the APAC, Europe, North America, and ROW?
What are the key outcomes of the five forces analysis of the sports equipment market?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global Sports Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Sports Equipment Market: Adidas, Amer Sports, Jarden, Mizuno, Nike and Under Armour
Other Prominent Vendors in the market are: ASICS, Billabong International, Callaway Golf C, Columbia Sport, Daiwa Seiko, Dunlop Sports Group Americas, New Balance, Puma SE, Quicksilver, Yonex.
Commenting on the report, an analyst from Technavio’s team said: “The global sports equipment market shows immense potential to grow during the forecast period because of the presence of certain positive trends in the market. One such major trend is the increasing demand for lightweight sports equipment. Lightweight sports equipment is replacing its traditional counterpart, which is both heavy and old fashioned. Another trend noticed in the market is the increasing demand for eco-friendly products in sports equipment.”
According to the report, the global sports equipment market is driven by many growth factors, one of which is a rise in disposable income levels and living standards. The increase in per capita income, especially in developing countries, has increased the demand for sports equipment worldwide.
Further, the report states that increasing availability of counterfeit products is a major challenge faced by the global market.
Adidas, Amer Sports, Jarden, Mizuno, Nike, Under Armour, ASICS, Billabong International, Callaway Golf C, Columbia Sport, Daiwa Seiko, Dunlop Sports Group Americas, New Balance, Puma SE, Quicksilver, Yonex.