Sports Equipment Market

Sports Equipment Market Outlook (2024 to 2034)

The global sports equipment market is estimated at US$ 113.07 billion in 2024 and is projected to expand at a CAGR of 6.9% through 2034, thereby reaching a value of US$ 220.35 billion by 2034-end.

Growing passion for both national and global tournaments is attracting a massive global audience. This surge results in a high number of athlete enrollments annually, driving demand for sports and leisure equipment. Furthermore, a rising trend of home fitness routines, combined with a preference for personalized workouts in a comfortable home environment, is contributing to an increased demand for sports and leisure equipment.

Regular exercise offers a multitude of advantages, including improved cardiovascular health, effective weight management, stress reduction, and enhanced mood. As a result, individuals are actively exploring ways to integrate exercise into their daily schedules, leading to a surge in demand for sports equipment. These factors are projected to drive sports equipment market growth over the forecast period.

Companies are proactively implementing strategies to expand their market presence, focusing on enhancing brand awareness through diverse channels. These channels encompass TV commercials, print media, the internet, and various social media platforms. In addition to conventional advertising approaches, companies are forming partnerships with sports teams and athletes, leveraging their influence in the sports and fitness community. Notably, social media influencers and renowned sports personalities play a pivotal role by actively endorsing different brands, serving as catalysts for the ongoing expansion of the market.

Report Attributes	Details
Sports Equipment Market Size (2024E)	US$ 113.07 Billion
Projected Market Value (2034F)	US$ 220.35 Billion
Global Market Growth Rate (2024 to 2034)	6.9% CAGR
China Market Value (2034F)	US$ 33.49 Billion
Canada Market Growth Rate (2024 to 2034)	8.1 % CAGR
North America Market Share (2024E)	24.3%
East Asia Market Value (2034F)	US$ 50.9 Billion
Key Companies Profiled	PUMA.SE Nike Inc. Jarden Corporation Amer Sports Under Armour Adidas AG Mizuno Corporation Yonex Co. Ltd.

Which Sports Equipment Market Trends are Driving Up Profits of Manufacturers?

“Healthier Lifestyle Choices Driving More People toward Active Participation in Sports”

There has been a notable uptick in the number of people embracing healthier lifestyles, leading to an increased interest in diverse sports activities. In alignment with the athleisure trend, consumers are actively seeking a variety of sports and leisure equipment, with a particular emphasis on ball sports.

• Data from the State General Administration of Sports in China, reveals a substantial presence of approximately 2.48 million ball game courts across the country in 2021.

• Basketball courts lead in numbers, exceeding a million, followed by table tennis courts and badminton courts.

Extensive infrastructure reflects the commitment of sports equipment manufacturers across the world to providing ample facilities for diverse sports, catering to the growing participation in athletic pursuits among sports enthusiasts.

How Can Startups Change the Global Sports Equipment Market Landscape?

“Focus on Sustainable Manufacturing Practices”

Startups have the potential to contribute to the expansion of the sports equipment market size by introducing innovative technologies, sustainable practices, and disruptive business models. Through novel product designs and technological advancements, start-ups can offer cutting-edge solutions that enhance athletic performance, safety, and user experience.

Focus on sustainable manufacturing can contribute to reducing the environmental impact of sports equipment use, aligning with the growing demand for eco-friendly products. Furthermore, start-ups can leverage digital platforms and e-commerce to create more direct and personalized connections with consumers, reshaping the distribution channels and customer engagement strategies within the sports equipment industry.

The agility and fresh perspectives of start-ups hold the key to transforming the global sports industry by driving innovation and sustainability initiatives and focusing on enhancing consumer experiences.

Country-Wise Insights

Fact.MR, a market research and competitive intelligence provider, asserts through its newly published analysis that East Asia is projected to hold 23.1% of the sports equipment market share by 2034.

Sports equipment is produced across regions worldwide, encompassing Southeast Asia, Central and South America, and Australia. This diversification has facilitated the market's ability to cater to increasing demands and mitigate reliance on particular sourcing hubs.

Why is the United States a Crucial Market for Producers of Sports Equipment?

“Public Inclination toward Adopting Latest Fitness Trends and Technologies”

Attribute	United States
Market Value (2024E)	US$ 18.82 Billion
Growth Rate (2024 to 2034)	7.8% CAGR
Projected Value (2034F)	US$ 39.73 Billion

The widespread culture of sports and fitness in the United States contributes to consistently high demand for a diverse range of sports equipment. The country also boasts a population that actively engages in various sports and recreational activities, fostering a continuous need for quality gear.

The country's robust economy and high disposable income levels allow consumers to invest in online sports equipment, driving sales for both basic and advanced gear. American consumers’ inclination towards adopting the latest fitness trends and technologies further stimulates innovation and product development by sports equipment producers.

Which Factors Contribute to High Demand for Sports Equipment in China?

“Government Initiatives Promoting Adoption of Healthy Lifestyles and Sports Participation”

Attribute	China
Market Value (2024E)	US$ 15.77 Billion
Growth Rate (2024 to 2034)	7.8% CAGR
Projected Value (2034F)	US$ 33.49 Billion

Rising demand for sports equipment in China can be attributed to a confluence of factors that reflect the evolving lifestyle and priorities of its population. As the country experiences economic growth, there is a notable increase in disposable income. This newfound financial capacity allows individuals to invest in their health and well-being, fostering a heightened interest in sports and fitness activities.

Government initiatives promoting a healthy lifestyle further amplify this trend, with campaigns and infrastructure development encouraging citizens to embrace physical activities. Urbanization has brought about sedentary lifestyles, prompting a search for ways to stay active and fit.

The flourishing e-Commerce landscape in China is facilitating easy access to a diverse array of sports equipment, providing consumers with convenience and choice. Social media platforms also play a pivotal role in influencing individuals to adopt healthier lifestyles and engage in sports, ultimately contributing to the escalating demand for sports-related products in the country.

Category-wise Insights

Sticks, bats, balls, and clubs stand out as high-selling segments in the sports market. Golf clubs, prized for their precision and advanced materials, consistently attract avid players looking to enhance their skills. Baseball and softball bats, known for their diverse designs and technological innovations, maintain a strong and broad consumer appeal.

Why are Sales of Sticks, Bats, and Clubs So High?

“Rising Athlete Enthusiasm and Continuous Improvements in Materials and Designs”

Attribute	Sticks, Bats, and Clubs
Segment Value (2024E)	US$ 25.33 Billion
Growth Rate (2024 to 2034)	6.8% CAGR
Projected Value (2034F)	US$ 51.56 Billion

Soccer balls, basketballs, and tennis balls, as integral components of popular sports, are in high demand. Clubs used in sports like golf and field hockey, with their specialized features and customizable options, also find extensive usage among sports enthusiasts. Athlete enthusiasm and improvements in materials and design ensure the prominence of such equipment in the market.

Key companies across the world are actively embracing online distribution channels as a strategic approach to enhance the marketing and branding of their products. This initiative is driven by the goal of expanding their geographic footprint and fostering a substantial increase in their customer base.

By tapping into the vast potential of online platforms, key players in the sports equipment market are not only amplifying their market presence but also adapting to the evolving consumer landscape. The shift towards online marketing aligns with the digital era, where the accessibility and convenience of online channels contribute significantly to engaging a broader audience.

Transitioning to online distribution channels reflects a proactive response to the changing dynamics of consumer behavior, emphasizing the importance of a robust online presence in the contemporary business environment. As companies invest in these digital strategies, they position themselves to capitalize on the expansive opportunities offered by the online realm, ultimately reinforcing their competitive standing in the sports equipment market.

Which End-User Segment Accounts for a Leading Share of the Market?

“Sports Equipment Tailored for Men Occupying Leading Market Share”

Attribute	Men
Segment Value (2024E)	US$ 54.05 Billion
Growth Rate (2024 to 2034)	6.7% CAGR
Projected Value (2034F)	US$ 102.9 Billion

Sports equipment tailored for male athletes encompasses a diverse array of specialized gear, spanning from high-performance athletic shoes to cutting-edge sportswear and innovative accessories. Manufacturers prioritize functionality, durability, and style, consistently endeavoring to address the changing needs of men participating in diverse sports and fitness endeavors.

Competitive Landscape

The competitive landscape of the sports equipment industry is marked by intense rivalry and constant innovation. Established brands, driven by a commitment to technological advancements and product diversification, are vying for market share alongside emerging players seeking to carve their niche. Companies focus on staying ahead through research and development, introducing cutting-edge materials, and enhancing the performance features of their products.

This competitive environment leads to a wide array of choices for consumers, from traditional and well-established brands to newer entrants bringing fresh perspectives. Effective marketing strategies, endorsements by athletes, and strategic partnerships also play pivotal roles in determining the success of companies in this dynamic market, where staying attuned to consumer preferences and evolving trends is crucial for sustained competitiveness.

• In June 2021, JD Sports Group took over Deporvillage, an exclusive online seller of outdoor sporting gear. As a result of the acquisition, the company now possesses an 80% stake, while the founders, Xavier Pladellorens and Ángel Corcuera, have no remaining ownership.

Key Segments of Sports Equipment Market Research

• By Product :

  • Balls
  • Sticks
  • Bats
  • Clubs
  • Nets and Goals
  • Rods and Tackles
  • Gear

• By Sales Channel :

  • Multi-Brand Stores
  • Mono-Brand Stores
  • Sporting Goods Stores
  • Online Retail

• By End User :

  • Men
  • Women
  • Teens

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa