Sports Equipment Market Growth & Trends The global sports equipment market size is expected to reach USD 578.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2022 to 2030.
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Is the sports equipment industry growing?
Sports Equipment Market Growth & Trends The global sports equipment market size is expected to reach USD 578.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2022 to 2030.
What are the trends in the sporting goods industry?
During 2020, executives in the sporting-goods industry focused on three key trends: consumer shifts, the digital leap, and industry disruptions. In 2021, these trends continued, in some cases accelerated, or took interesting new turns.
What is sports equipment industry worth?
USD 342 billion
The global sports equipment market was valued at USD 342 billion in 2019 and is expected to reach nearly USD 754 billion by 2026, expanding at a CAGR of around 7.2% during the forecast period, 2020 – 2026.
How big is the sports equipment industry?
5 days ago
The global sports equipment market size was estimated at USD 331.4 billion in 2021 and is expected to reach USD 347.4 billion in 2022.
What is expected sports industry growth rate in India?
1. What is the expected growth rate of the Indian sports and fitness goods market? We expect the Indian sports and fitness goods market to exhibit a CAGR of 8.5% during 2022-2027.
What is the market for sporting goods in North America?
Sporting goods store sales in the United States alone amount to roughly 45 billion U.S. dollars each year. And as such, the U.S. is the key market in the sports apparel and footwear industry holding the lion’s share of the market with over thirty percent.
Who is the target market for sporting goods?
Typically, these would be adult participants or older youths who have the technical knowledge and disposable income to purchase sporting goods equipment and apparel on their own. Parents – Parents buy on their own, or are present during the purchase of over 90% of sporting goods purchases for youths ages 5-18.
What are the 5 tips for navigating the sports industry?
5 Tips for Navigating the Sports Business Industry
- GET EXPERIENCE. The more experience you have, the more qualified you are.
- BE PLEASANTLY PERSISTENT.
- UTILIZE ALUMNI.
- HAVE TRANSFERABLE SKILLS.
- ENJOY THE RIDE.
How competitive is the sports industry?
So, competitive sports and all the business around it, creates roughly US$250 billion in turnover each year. Every sport discipline has a certain percentage market share of that $250 billion of professional sports turnover. No surprise, association football (soccer) comes in at number one, with a big majority.
What industry is Nike and Adidas in?
sportswear industry
Athletic footwear market Nike, adidas, and Puma are the leading companies in the sportswear industry worldwide.
What is the sport market in India?
The market size of the sports industry across India was over 16 billion Indian rupees in 2020. The majority of the media consumption in the sports industry in the country was from the Indian Premier League. Recently however, other domestic leagues like Pro Kabbadi and the Indian Super League have gained popularity.
What is sports industry in India?
NEW DELHI : India’s sports media and sponsorship industry reached about ₹95 billion in FY20 but will be growing at a slower pace to reach ₹150 billion by 2024, a new report has claimed. According to the report by sports-related employment agency Sporjo and FICCI, the industry grew at a CAGR of 14% till 2020.
Which region is expected to dominate the sports equipment market?
The market in Europe and North America is likely to observe surge in demand for sports equipment over the coming years. North America accounted for more than 35.0% of the total market share in 2016 and is projected to exhibit a CAGR of 3.0% over the forecast period.
What is the forecast period of sports equipment market research report?
Sports Equipment Market Report Scope Report Attribute Details Market size value in 2020 USD 74.17 billion Revenue forecast in 2025 USD 89.22 billion Growth Rate CAGR of 3.5% from 2018 to 2025 Base year for estimation 2016
Is e-commerce driving the growth of the sports equipment market?
Thus, the e-commerce industry is experiencing rapid expansion, especially in these equipment sales volume, which is estimated to stimulate the growth of the segment. The market in Europe and North America is likely to observe surge in demand for sports equipment over the coming years.
What is the next normal for the sporting goods industry?
The report, Sporting Goods 2021: The next normal for an industry in flux, comes at a critical moment for the industry, as the COVID-19 pandemic continues to play out around the world. The impact of the pandemic is shifting consumer behaviors and creating a need for careful analysis and strategic planning.