Published Date: 2019-06-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7259
Sports equipment are one of the most essential things required during sporting activities. They are specifically designed and manufactured as per the requirements of the sport. Sportspersons not only use sports equipment from the safety point of view but also to complete the sport. For instance, athletes can use sports equipment as a tool to play the sport or as a protective gear. With the increasing risk of injuries during sporting activities, companies are manufacturing sports equipment with specialized and more protective features.
The rising trend of sports equipment donation is expected to highlight the global market. In May 2019, a young American hockey player from New York was reported to collect hockey equipment such as hockey sticks to donate to local sports clubs through the organization Stick Up to Cancer. In the same month, US beverage company Keurig Dr. Pepper sponsored a grant program to donate over 2,500 pieces of sports equipment to a number of local sports and children’s organizations.
Increasing awareness about general health and fitness is foretold to augment the demand in the global sports equipment market. Continuous product innovation and aggressive technological developments are other significant factors driving the growth of the global market. Use of high-quality manufacturing materials to improve product performance is expected to increase the interest of consumers and create new opportunities in the global market.
However, the rising sales of counterfeit products and expensive manufacturing cost are prophesied to hold back the growth of the global sports equipment market. Moreover, product defects are anticipated to result in product recalls, thereby hampering sales in the long run.
● Ball Over Net Games
● Ball Games
● Athletic Training Equipment
● Fitness/Strength Equipment
By Distribution Channel
● Online Retail
● Specialty and Sports Shops
● Department and Discount Stores
Among product segments, ball games are anticipated to account for a telling share of the global sports equipment market during the forecast period. They generate a significant amount of revenue in the global market because of their high popularity and growing interest of people across the world. Among distribution channels, specialty and sports shops are foreseen to take a larger share of the global market as they offer a wide range of products and have expert customer service professionals to provide the required information and support.
North America and Europe are predicted to attain remarkable growth in the global sports equipment market. Among these regions, North America could show slightly better market growth because of the rising consumer spending on sports goods. Other factors foretold to augment the demand in the North America market are the increasing number of health initiatives where playing sports is encouraged to fight the rising problem of obesity. Furthermore, growing healthcare awareness is expected to bode well for the North America market.
Some of the major players of the global sports equipment market are Adidas AG, Nike, Inc., and Puma SE. The researchers have also profiled other important players including Mizuno Corporation, Callaway Golf Co., Amer Sports, and YONEX Co. Ltd.
QY Research obtains and collates market data from various sources that are reliable and all-encompassing. With the help of continuous data filtration, it makes sure that only validated and authentic sources are taken into consideration for the research study. Some of the important objectives of primary research are gaining insights into the current and future situations of the market and validating findings and other data on the basis of acceptability and accuracy. For secondary research, the analysts use case studies, demographic and economic data, independent investigations, government publications, and company reports.
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NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
Sports play an integral part in the society and have gradually evolved as an independent industry. Evolution of sports science, wearable technologies, and precision-driven training of sportspersons have collectively led to a thriving industry over the years. Over the years, the number of participants have also increased. Involvement of women in sporting activities and growing number of events has given the sports industry a whole new dimension to explore.
The research reports on the sports industry look at the changing demographics and the evolving technologies. They evaluate the future of outdoor and indoor sports industry and the shifting perspective towards health that will impact the industry. Topics such as GPS-equipped gear, smart materials, smart sporting equipment, and 3D simulations for accurate assessments have been studied by analysts in the research reports. The publications include evaluation of milestones achieved by this industry and the involvement of governments in shaping the overall industry through the years.
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