Market Overview
The global Sports Equipment Market Share is projected to register a growth rate of 3.2% from 2019 to 2024 to reach a market value of USD 88.4 Billion by the end of 2024. The increasing importance and popularity of sports among the sports enthusiasts is offering a lucrative opportunity to market players, thereby encouraging innovative product launches. However, the shift towards game consoles and smartphones from traditional sports is expected to hamper the market growth during the forecast period.
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Competitive Landscape
Some of the key players in the global Sports Equipment Market Share are Nike, Inc. (US), Kering S.A. (France), Adidas AG (Germany), Shenzhen Taishan Sports Technology Co., LTD (China), Callaway Golf Company (US), Quiksilver, Inc. (Australia), Black Diamond Equipment, Ltd (US), Sports Direct International plc (UK), BPS Direct, LLC (US), MIZUNO Corporation (Japan), Yonex Co., Ltd (Japan), New Balance Athletics, Inc. (US), Daei Sportswear & Equipment (Iran), Globeride, Inc. (Japan), and ANTA Sports Products Limited (China).
Market Segmentation
The global Sports Equipment Market Share has been segmented based on type, distribution channel, and region.
Based on type, market has been classified into balls, sticks, bats, & clubs, nets and goalposts, sports gear, and others. The balls segment is expected to be the largest and fastest-growing market during the review period.
On the basis of distribution channel, market has been divided into store-based and non-store-based. The store-based segment has further been classified as hypermarkets and supermarkets, specialty stores, and others. The store-based segment is expected to hold the larger share of the global market from 2019 to 2027. However, the non-store-based segment is expected to register a higher growth rate during the forecast period.
The global market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
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Regional Analysis
The global sports equipment market report has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The North American sports equipment market is expected to dominate during the forecast period due to advancements in action sports equipment, including high detail and realism followed by the high spending power of customers in the region. A high number of retail stores as compared to the rest of the world is further expanding the regional Sports Equipment Market Share.
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