Other Sports Equipment Market Will Upsurge Spontaneously With Revenue of $39.35 Billion By 2028 Based on Rising Awareness Regarding General Health And Fitness | Million Insights

April 13 06:20 2022
Other Sports Equipment Market Will Upsurge Spontaneously With Revenue of $39.35 Billion By 2028 Based on Rising Awareness Regarding General Health And Fitness | Million Insights
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According to new report available with Million Insights, the global other sports equipment industry research report offers thorough insights on end-user, product, distribution channel and impact of COVID-19. It also offers ready, data-driven answers to several industry-level questions.

The global other sports equipment market size is expected to reach USD 39.35 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 3.5% from 2021 to 2028. Increasing adoption of sports and other recreational activities, such as gym and athletics, is driving the industry. The market is majorly driven by the increasing participation in sports activities, such as athletics and table tennis. Rising awareness regarding general health and fitness is one of the primary growth stimulants for the market.

The Covid-19 pandemic has crippled the industry for other sports equipment. It severely affected the industry due to strict lockdown across the globe. Gyms and sports activities have all been affected due to the pandemic. Due to the ongoing lockdown, the supply chain was disturbed. Various businesses and industries were closed. This adversely affected the overall sales of this market.

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U.S. Other Sports Equipment Market size, by product, 2018 - 2028 (USD Billion) 

The gym or athletics articles and equipment segment accounted for the largest revenue share of over 40.0% in 2020 owing to the increasing health consciousness among people. The segment growth can also be credited to the constant innovation in athletics equipment. The increasing number of people opting for gym equipment for home exercise is also expected to boost the segment growth over the forecast period.

The online segment is estimated to witness significant growth over the forecast period. Other sports equipment can be purchased at a low price via online platforms. Such channels have the ability to provide various benefits, such as free shipping charges, coupon benefits, and other offers. Moreover, the rising incidence of app-based sellers that are significantly popular is likely to drive the segment over the forecast period.

North America dominated the market and accounted for a revenue share of over 40.0% in 2020 due to the high product demand in the U.S. and Canada. In addition, the increasing purchasing power of the consumers will drive the regional market. As the region presents various opportunities for the consumer goods sector, the industry is projected to witness significant growth in the years to come.

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 Global Other Sports Equipment Market share, by distribution channel, 2020 (%)

Other Sports Equipment Market Report Highlights

• Asia Pacific is expected to register the fastest CAGR of 4.1% from 2021 to 2028 owing to the rising demand for other sports equipment

• By product, the gym or athletics articles and equipment segment accounted for the largest revenue share of over 40.0% in 2020 owing to the increasing health consciousness among people

• The offline distribution channel segment dominated the market with a share of over 65.0% in 2020 owing to the increasing product sales

• The online distribution channel segment is estimated to witness significant growth over the forecast period owing to the availability of products at a low cost and offers and discounts offered by the online channel

Other Sports Equipment Market Segmentation

Million Insights has segmented the global other sports equipment market on the basis of product, distribution channel, and region:

  • Other Sports Equipment Product Outlook (Revenue, USD Million, 2017 – 2028)
    • Gym or Athletics Articles and Equipment
    • Articles and Equipment for Table Tennis
    • Equipment for Sport and Open-air Games
  • Other Sports Equipment Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
    • Online
    • Offline
  • Other Sports Equipment Regional Outlook (Revenue, USD Million, 2017 – 2028)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • Japan
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa

List of Key Players of Other Sports Equipment Market

  • Adidas AG
  • Amer Sports
  • Callaway Golf Co.
  • Sumitomo Rubber Industries Limited
  • Nike, Inc.
  • Puma SE
  • Mizuno Corporation
  • Sports Direct International PLC
  • Under Armour and Yonex Co.

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