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Sports Equipment Market Size, Share, and COVID-19 Impact Analysis, By Type (Protective Gears, Nets & Goals, Bats & Clubs, Balls, and Others), By Distribution Channel (Online, Offline), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107963 | Status : Ongoing

 

KEY MARKET INSIGHTS

Sports equipment refers to the tools or items required to play a sport. They are available in a wide range, including gears, racquets, helmets, shoes, skates, and balls, and are also used for exercising. In this respect, the rising awareness regarding the benefits of sports and a healthy lifestyle drives market growth.


Sports equipment prevents accidents and protects users from injuries while playing or exercising. In this regard, increasing sports-related injuries worldwide trigger the demand for sports equipment. For instance, according to Stanford Medicine Children's Health, a San Francisco, U.S.-based healthcare system, nearly 30 million teenagers and children participate in sports across the U.S., of which over 3.5 million sustain injuries annually. In addition, the increasing popularity of sports, notably among youth, is likely to accelerate product demand in the coming years.

The launch of several sports events and tournaments worldwide favors market expansion. For instance, in April 2022, British Blind Sport, a U.K based charity, launched the International Blind Sports Federation World Games, a sports event for visually impaired athletes. The event will be conducted in August 2023 in Birmingham, U.K. Despite the increasing popularity of sports events worldwide, the rising consumer inclination towards virtual reality gaming impedes the market growth.

Impact of COVID-19 on the Sports Equipment Market


The COVID-19 pandemic has significantly affected the global sports equipment market growth. The novel pandemic led to canceling several sports tournaments and events and the closure of sports academies across countries, most notably throughout 2020, decreasing product sales. Furthermore, the imposition of lockdown and COVID-19 restrictions disrupted supply chains and hampered manufacturing operations worldwide in 2021. However, the unprecedented pandemic encouraged numerous individuals to adopt a healthy lifestyle and focus on physical fitness, accelerating product demand through online channels.

Key Insights


The report will cover the following key insights:


  • Overview of overall sports industry.

  • Supply Chain Analysis.

  • Industry SWOT Analysis.

  • Key Industry Developments (Product launch, Merger, Acquisition, Partnership).

  • Impact of COVID-19 on Sports Equipment Market.


Analysis by Type


Based on type, the global market is segmented into protective gears, nets & goals, bats & clubs, balls, and others. The balls segment will likely dominate the market throughout the forecast timeframe due to the increasing popularity of football; basketball; and volleyball; which require the ball as the main equipment. Given the rising number of sports-related injuries worldwide, the protective gear segment is also expected to grow considerably in the coming years.

BAnalysis by Distribution Channel


The market is categorized as offline and online based on the distribution channel. The online segment will likely witness the fastest CAGR from 2023 to 2030, backed by the easy and wide availability of sports equipment on e-commerce platforms and the increasing online shopping trend across countries. Recent years have witnessed partnerships to launch sports equipment through online platforms. For instance, in August 2021, Flipkart, an Indian e-commerce company, collaborated with HRX, an Indian fitness and lifestyle brand, to introduce a range of fitness and sports equipment through the former's website.

Regional Analysis


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The global market is geographically segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for the largest market share in 2022, backed by the high popularity of sports such as soccer, baseball, basketball, and hockey and the growing number of individuals taking sports as a profession, notably in the U.S. and Canada. Moreover, several regional sports academies, such as La Masia and United States Sports Academy, support regional market growth.

Asia Pacific is expected to witness significant growth during the forecast period. The growing consumer awareness regarding the importance of fitness activities and a healthy lifestyle augments the regional product demand. In recent years, various key market players have focused on product launches to stay competitive. For instance, in April 2021, ASICS, a Japan-based sports equipment company, introduced the Earth Day Pack, a cross-category product range of environmentally sustainable apparel and footwear.

Key Players Covered


The report will include the profiles of key players such as Adidas AG, Nike, Inc, Puma SE, Under Armour, Sports Direct International PLC, Amer Sports, Callaway Golf Co., Mizuno Corporation, Yonex Co., Ltd, and NEW BALANCE.

Segmentation
















By Type


By Distribution Channel


By Geography


 


  • Protective Gears

  • Nets & Goals

  • Bats & Clubs

  • Balls

  • Others




  • Online

  • Offline




  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments



  • April 2023: Wilson Sporting Goods Co, a U.S.-based sports equipment company, launched its Gen Green product range. The new collection includes footballs, soccer balls, basketballs, and volleyballs manufactured using sustainable materials.

  • August 2022: Dick's Sporting Goods, a U.S.-based sporting goods retail brand, and SidelineSwap, a U.S.-based online marketplace offering used and new sports goods, expanded their collaboration to offer 50 trade-in events across the U.S. The customers could exchange their used sports equipment and receive gift cards at the event. The companies had previously organized ten such events.





  • Ongoing
  • 2023
  • 2019-2022

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