The global sports equipment market is expected to witness moderate growth at a CAGR of 3%
during the period between 2010 and 2020. The market was worth US$66,528.8 million in 2013 and, on the back of the positive growth in the forecast period,
is expected to be valued at US$81,821.0 million by the end of 2020.
Counterfeit Products to Negatively Affect Global Sports Equipment Market
The growing consumer awareness about fitness and health coupled with increasing participation in sports activities has driven demand from the global sports
equipment market. Various sporting events such as the Olympics, ICC Cricket World Cup, FIFA World Cup, and the Commonwealth Games have contributed to the
growth of the market. Ecommerce websites have further fuelled the market growth by helping the target audience access sports equipment with ease. However,
the rising prices of sports equipment have made a negative impact on the growth of the overall market. The increasing availability of counterfeit products
has emerged as a major challenge for the market players, as the cheaper counterfeit products are eating into the revenue of the established players.
Various research and development programs have been initiated by manufacturers to improve sports equipment products. Nowadays, carbon fiber is commonly
used in sports equipment, which will open new opportunities for the global sports equipment market. Combining casual and athletic designs for sports
equipments has been observed as the latest trend in the market.
Ball Sports to be Major Segment of Global Sports Equipment Market
Depending upon the types of products, the global sports equipment market has been segmented into adventure sports, golf equipment, fitness equipment,
winter sports, ball sports, and other sports equipments. The ball sports segment has the largest share of the global sports equipment market. As ball
sports are the most watched sports across the world, the revenue generated from this segment is higher than the rest of the segments due to high consumer
interest. During the forecast period, ball sports are expected to continue as the leading segment, growing at a CAGR of 3.6% from 2014 to 2020 and reach a
valuation of US$21,778.6 million by the end of 2020.
Asia Pacific to Show Rapid Growth during 2010-2020
Geographically, the global sports equipment market is divided into Europe, Asia Pacific, North America, and Rest of the World. North America has been the
leader of the global sports equipment market, followed by Europe and Asia Pacific. The U.S. and Canada are the biggest contributors to the growth of this
region in the overall market. The economically developed countries of Europe have also majorly contributed to the growth of the market. However, during the
forecast period, Asia Pacific is expected to show rapid growth, owing to the rising demand for sports equipment from countries such as Australia, China,
Japan, and India.
Major Players of the Global Sports Equipment Market
The major players of the global sports equipment market include Jarden Corporation, GLOBERIDE Inc., Callaway Golf Company, Amer Sports, PUMA SE, Adidas AG,
Nike Inc., MIZUNO Corporation, Cabela’s Incorporated, and YONEX Co. Ltd.
Browse the full Global Sports Equipment Market report at http://www.mrrse.com/sports-equipments-market