Global Sports Equipment Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global sports equipment market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028).  Sports equipment also called sporting goods are the tools and materials, gear, and apparel that is used to compete in a sport relying on the sport. Sporting equipment can be used as protective gear or a tool used to support the athletes play the sport. Over the period, sports equipment has evolved owing to an increase in the demand for more protective gear to prevent injuries.  The equipment ranges from balls, nets, and protective gear such as helmets. Sporting equipment may be found in any department store or specific sporting equipment shops. The increase in disposable income of the people, rising demand for branded sports equipment, rising participation in sports activities are some factors creating new opportunities for market players.

Additionally, the growing popularity of national and international events, such as the Soccer World Cup, Olympic Games, and Cricket World Cup is leading to an increasing demand for sports equipment. Nowadays new sports equipment is made of light-weighted carbon fiber for high strength and better performance. These are further accelerating the growth of the market. Social media influencers and favorite sports personnel are endorsing various brands which is a boosting factor for the growth of the market.

Some major players in the market include Nike Inc., Adidas AG, and Yonex Co. Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in January 2022, Callaway Golf Co, announces new chrome soft, Chrome Soft X, and Chrome Soft X LS Golf balls. New golf ball offerings incorporate the company’s proprietary new precision technology to deliver their tightest dispersion, consistently fast ball speeds, and total performance. Additionally, in June 2021, JD Sports Group acquired Deporvillage, an online-only retailer of outdoor sporting equipment.

Market Coverage                                                                      

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Product Type
  • By Distribution Channel
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Nike Inc., Adidas AG, and Yonex Co. Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Sports Equipment Market Report by Segment

By Product Type

• Ball Sports
• Adventurous Sports
• Fitness Equipment
• Golf Equipment
• Sports Equipment
• Athletic Footwear
• Athletic Apparels

 By Distribution Channel

• Supermarkets
• Hypermarkets
• Specialty Store
• Online Stores
• Convenience Stores