Sports Equipment Market Size and Analysis by 2022: Global Top Companies, Geographical Analysis, Business Outlook with COVID-19

Kenneth Research, in its repository of market research reports, have recently added a report on Sports Equipment Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Sports Equipment Market products.

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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.

Global Sports Equipment Market is further estimated to grow at a CAGR of 3.7% from 2019 to reach USD 89.2 Billion by the year 2025. The North America region holds the highest Market share in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period. At country level, U.S, U.K. and China is projected to grow strongly in the coming years due to high rate of investment by R&D.

Major market players in Sports Equipment Market are Nike Inc., Adidas Group, Reebok International, Puma, Under Armour Inc., VF Corporation, Everlast Worldwide Inc., Wilson Sporting Goods, New Balance, Fila, and brief overview of 10 companies is also provided in the report. Rising research and development expenses cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.

SWOT Analysis of Sport Equipment Market:

Collaboration with e-commerce websites.
The rising trend to follow prominent sports players.
Increasing media coverage of global sports event. For e.g. Fifa.

Regular advancements
Increasing instances of counterfeited and forged products

Regular upgradations and advancements. For e.g. Terra Nova Equipment.
Huge investments by R&D

Intense competition among the producers.
Absence of government regulations and trade infringement.

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The Global Sports Equipment Market is segmented as By Product type and Distribution Channel and Region. The Product type is divided into ball sports, adventurous sports, fitness equipment’s, golf equipment’s, sports equipment’s, athletic equipment and athletic apparels in which ball sports contributes to the highest Market share due to greater popularity among youngsters.

Sport Equipment Market Segmentation:
By Distribution Channel
*Sports shop
*Department and discount stores
*Online retail

By Product type
*Ball sports
*Adventurous sports
*Fitness Equipment’s
*Golf Equipment’s
*Sports Equipment’s
*Athletic Equipment’s
*Athletic Apparels

By Region
North America
*Rest of Europe
*Rest of Asia-Pacific
*Latin America
*Middle East & Africa

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