Global Sports Equipment Market; By Product Type (Ball Games, Fitness/Strength Equipment, Athletic Training Equipment, and Other Product Types); By Distribution Channel (Department & Discount Stores, Online Retail, and Specialty & Sports Shops); As well as by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast: 2023-2032

Report Overview

The Global Sports Equipment Market size is expected to be worth around USD 6,06,610.75 million by 2032 from USD 3,32,403 million in 2022, growing at a CAGR of 6.20% during the forecast period from 2022 to 2032.

The forecast period will see steady growth due to the influence of social media, the need to stay fit, and a greater number of individuals taking up sporting activities. This is expected to drive demand for sports equipment market share. Many sports industries, including the fitness activities and athletic industry, have been adversely affected by the COVID-19 pandemic. Numerous tournament events and games, including the Olympics, were either canceled or had altered dates. Market stakeholders were compelled to evaluate the impact of disrupted cash flows and downstream insecurities, as well as the possible reduction in attendance numbers.

Global Sports Equipment Market Scope:

Product Type Analysis

In terms of ‘Product Type’, the ‘Ball Games’ segment dominated this market, accounting for over 35.2% of global revenues in 2021. As ball games are popular TV pastimes, their revenue forecast is significantly higher than other segments. This market supply chain segment is projected to grow at a 6.1% CAGR over the forecast period. The growth of this segment is expected to be driven by the growing popularity of sports activities like cricket, football, MMA, and basketball around the world.

The highest projected CAGR is expected to be indexed by the ‘Fitness Equipment/Strength Gear’ segment over the forecast period. As a result of sedentary lifestyles, rigorous work environments, and hectic lifestyles, urbanites have seen a dramatic shift in their daily lives. Their desire to exercise and stay fit is further encouraged by growing health concerns, health awareness, and the ability to afford various activities due to increasing disposable incomes.

Distribution Channel Analysis

With respect to the ‘Distribution Channel’, the ‘Specialty stores and Sports Shops’ segment accounted for over 36.3% of global revenues in 2021. These stores offer the market’s largest revenue share with a wide range of brands and can provide the support and information that consumers require through their expert customer service personnel. This channel is convenient and can stock popular brands, which has contributed to its growth.

From 2023 to 2032, the ‘Online Retail’ market opportunities for the sports equipment market growth industry are expected to grow at a 7.4% CAGR. This segment is likely to grow due to increased internet penetration and targeted marketing strategies by companies to all touch points. The forecast period is expected to register segment growth due to increasing smartphone usage, increasing consumer spending, and higher penetration of the internet.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Strength/Fitness Equipment
• Athletic Training Equipment
• Ball Games
• Other Product Types

By Distribution Channel

• Department & Discount Stores
• Online Stores/Retail Stores
• Specialty & Sports Shops
• Supermarket
• Hypermarket

Market Dynamics:

This market is benefitting from the popularity of international and national events like the Football World Cup, the Olympic Games, and the Cricket World Cup. The demand for fitness equipment and materials is increasing due to the growing prevalence of lifestyle-related diseases like obesity and stress. Product demand is also being influenced by the greater availability of international athletic equipment brands. The sports equipment market growth strategy is expected to be boosted by the increasing participation of women in sports. BBC reports that the gap in sports participation between women and men in England has decreased.

This gap will continue to diminish over the next few years, which is expected to have a positive influence on equipment demand. A growing awareness concerning the positive effects of sports on the physical development of kids has led to an increase in spending on such equipment over the years. China and India are both lucrative markets for sporting equipment. These countries have a high level of disposable income and improving standards of living, which are key factors in driving product demand. The Asia Pacific’s market growth will be driven by lower cost of production and a strong manufacturing sector.

Companies aim to increase market drivers penetration through TV commercials, social media, print media, internet platforms, partnerships, as well as sponsorships with athletes and fitness enthusiasts. Social media influencers as well as well-known athletic designs endorse various brands, which in turn is likely to increase the market growth factors.

Regional Analysis

North America was the dominant market, accounting for over 32.4% of global revenue growth in 2021. Governments in the region are establishing arenas to offer a better sporting experience for citizens due to the growing popularity of basketball and football. This regional market is expected to register a positive outlook over the forecast period. The highest CAGR for the market trends for sports equipment in the Asia Pacific will be 8.2% over the forecast period.

South Korea’s market for sports equipment is expected to grow due to increased infrastructure spending and higher spending by the government on public infrastructure. Additionally, South Korea’s low unemployment rate and high disposable incomes will drive the demand for the sports equipment industry.

Due to COVID-19, the Asia Pacific countries indexed a rapid increase in sales of exercise equipment in 2021. India has made great strides in outdoor gear over the last few years due to the increasing popularity of games, and consequently the growing number of associated leagues.

The growing emphasis focus on sports in this region can also explain the high demand for Australian sporting goods. The demand for sporting goods will also be boosted by increasing disposable incomes and higher consumer spending and consumer preference in emerging markets like India, China, and various Middle Eastern countries. These countries host a number of sporting events and have created infrastructure to allow more people to take part in numerous gaming events. This has subsequently led to the expansion of this market in APAC.

Key Regions and Countries Covered іn this Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is open to both domestic and international players with a competitive landscape. To maximize customer penetration, key trends and market players are focused on innovative product launches and expanding distribution channels, collaborating with celebrities, and entering department stores and discount stores.

Кеу Маrkеt Рlауеrѕ:

• Adidas AG
• Amer Sports Oyj
• ASICS Corporation
• ANTA Sports Products Limited (China)
• Brooks Sports Inc
• Callaway Golf Co.
• Daiwa Seiko
• Epic Sports
• Sumitomo Rubber Industries Limited
• Nike Inc.
• JD Sports Fashion Plc
• Jarden Corporation
• Puma S.E.
• PUMA Flex
• Mizuno Corporation
• Sports Direct International PLC
• Shenzhen Taishan Sports Technology Co.
• Under Armour
• Yonex Co. Ltd.
• Other Key Players

For the Sports Equipment Market research study, the following years have been considered to estimate the market size: