The Latest Sports Equipment Industry Statistics Explained
The global sports equipment market size was valued at USD 66.3 billion in 2019.
This statistic indicates that the global sports equipment market was estimated to be worth USD 66.3 billion in the year 2019. This figure reflects the total value of sales for various sports equipment such as apparel, footwear, accessories, and gear worldwide during that specific year. The size of the sports equipment market provides insight into the scale and significance of the sports industry, showcasing the growing interest and investment in sports-related products by consumers, athletes, and organizations globally. Additionally, the market size can be used to monitor trends, track growth, and inform decisions related to product development, marketing strategies, and investment opportunities within the sports equipment industry.
The sports equipment industry is expected to reach USD 89.22 billion by 2027.
This statistic indicates that the sports equipment industry is projected to continue growing and is expected to achieve a market value of USD 89.22 billion by the year 2027. This forecast suggests a positive trend towards increased demand and sales within the industry, likely driven by factors such as rising participation in sports and fitness activities, advancements in technology leading to innovative product offerings, and growing awareness of the importance of leading an active lifestyle. The projected growth of the sports equipment industry highlights opportunities for manufacturers, retailers, and other stakeholders to capitalize on this market expansion in the coming years.
The market is expected to expand at a CAGR of 3.5% from 2020 to 2027.
This statistic indicates that the market is projected to experience a Compound Annual Growth Rate (CAGR) of 3.5% from 2020 to 2027. CAGR is a measure used to represent the year-over-year growth rate of an investment or market over a specified period of time, assuming that the growth happens at a steady rate. In this context, the 3.5% CAGR suggests that the market is anticipated to steadily increase in size by an average of 3.5% annually over the seven-year period. This growth rate provides insight into the market’s potential performance and allows for forecasting future trends and opportunities within the industry.
The athletic footwear and athletic apparel lead the industry generating over 35% of the revenue.
The statistic stating that athletic footwear and athletic apparel lead the industry in generating over 35% of the revenue signifies the significant market share and financial impact of these products within the overall industry. It indicates that consumers are investing a substantial portion of their spending on athletic footwear and apparel, pointing to the popularity and demand for these products among a wide range of individuals. This dominance in revenue generation suggests that companies within the athletic footwear and apparel sector hold a competitive advantage and are likely implementing successful marketing strategies to attract consumers. Overall, this statistic highlights the importance and profitability of the athletic footwear and apparel segment within the industry landscape.
The Asia Pacific region led the market with a share of 39.0% in 2019.
The statistic “The Asia Pacific region led the market with a share of 39.0% in 2019” signifies that out of the total market activity or revenue generated in 2019, the Asia Pacific region contributed the highest proportion, specifically accounting for 39.0% of the total share. This suggests that the Asia Pacific region was the dominant player or had the largest market presence compared to other regions during that year. It indicates a significant level of economic or business activity within the Asia Pacific region relative to other regions, highlighting its importance and influence in the market dynamics of the specified period.
The global market for smart sports equipment is expected to grow at a CAGR of about 33% between 2019 and 2025.
The statistic that the global market for smart sports equipment is projected to grow at a compound annual growth rate (CAGR) of approximately 33% between 2019 and 2025 indicates a rapid and substantial expansion in the market. This forecast suggests that there is a strong and increasing demand for technologically advanced sports equipment that can track performance metrics, provide real-time feedback, and enhance the overall sporting experience. The high CAGR suggests a growing trend towards adopting smart sports equipment by athletes, sports enthusiasts, and fitness enthusiasts. This significant growth rate also points to potential opportunities for businesses operating in this market segment to capitalize on the increasing consumer interest and technological advancements in the sports industry.
The US sporting goods market size was close to $45 billion in 2020.
The statistic “The US sporting goods market size was close to $45 billion in 2020” indicates the total value of sales made in the sporting goods industry within the United States during the year 2020. This figure serves as a measure of the size and economic significance of the market in terms of the revenue generated from the sale of sporting goods such as equipment, apparel, and accessories. The $45 billion market size suggests a substantial level of consumer spending on sporting goods within the US market, representing a significant industry with various players competing for a share of this financial opportunity. This statistic provides valuable insights for businesses, policymakers, and stakeholders interested in the sporting goods industry’s economic impact and growth potential.
Outdoor sports equipment sales in the US were over $19 billion in 2019.
The statistic ‘Outdoor sports equipment sales in the US were over $19 billion in 2019’ indicates the total revenue generated from the sale of outdoor sports equipment within the United States during the year 2019. This statistic reflects the significant market size and consumer interest in outdoor activities and sports in the US, highlighting the robust demand for related equipment such as camping gear, cycling accessories, hiking equipment, water sports gear, and more. The figure of $19 billion underscores the economic importance of the outdoor sports equipment industry, providing insights into consumer spending behaviors, trends in outdoor recreational activities, and the overall health of the outdoor sports market in the country.
The golf equipment market worldwide is forecasted to reach US $6,954 million in 2021.
The statistic indicates that the global golf equipment market is projected to have a total value of $6,954 million in the year 2021. This forecast suggests a substantial market size for golf equipment in terms of monetary value, reflecting the continued popularity and demand for such products. Factors contributing to this growth could include an increasing interest in golf as a sport, advancements in golf technology, and potentially an expanding consumer base across various demographics. Businesses operating within the golf equipment industry may find this statistic valuable for strategic planning, marketing efforts, and overall assessment of market opportunities.
The sports protective equipment market is projected to reach $12.1 billion by 2026.
This statistic indicates that the market for sports protective equipment is expected to experience significant growth and reach a total value of $12.1 billion by the year 2026. This projection suggests a growing demand for products such as helmets, padding, guards, and other equipment designed to reduce the risk of injury during sports activities. Factors driving this growth may include increasing awareness of the importance of safety in sports, advancements in technology leading to more innovative and effective protective gear, and a rising number of people participating in various sports and recreational activities. As a result, manufacturers and retailers in the sports protective equipment industry are likely to see increased opportunities for business expansion and profitability in the coming years.
The demand for cardiovascular workout sports equipment will grow at a CAGR of 2.8% from 2021 to 2028.
The statistic regarding the demand for cardiovascular workout sports equipment growing at a Compound Annual Growth Rate (CAGR) of 2.8% from 2021 to 2028 indicates that there is projected annual growth in consumer interest and purchases of equipment such as treadmills, stationary bikes, and rowing machines for cardiovascular activities. The CAGR provides a smooth average annual growth rate over the specified period, allowing for trend analysis and forecasting. A 2.8% CAGR suggests a modest but consistent increase in demand for these products over the years, reflecting potential market opportunities and a positive outlook for the cardiovascular fitness equipment industry.
The Adventure Sports Equipment Market will grow by $ 15.1 bn during 2020-2024.
The statement “The Adventure Sports Equipment Market will grow by $15.1 billion during 2020-2024” indicates that the total market value of adventure sports equipment is projected to increase by $15.1 billion over the four-year period from 2020 to 2024. This growth reflects an anticipated rise in demand for adventure sports equipment, likely driven by factors such as increasing interest in outdoor activities, technological advancements in equipment design, and growing disposable incomes. The statistic suggests potential opportunities for businesses operating in the adventure sports equipment industry to expand their market share and revenue during this period.
In 2020, fitness equipment sales grew by 170% with a majority being for home gyms.
The statistic that fitness equipment sales grew by 170% in 2020, with a majority of purchases being for home gyms, reflects the significant impact of the COVID-19 pandemic on consumer behavior. With restrictions on public gym access and a heightened focus on health and wellness due to the pandemic, individuals turned to home exercise solutions, driving a surge in demand for fitness equipment. The 170% growth indicates a substantial increase in purchases compared to the previous year, highlighting a shift towards investing in home fitness setups as a long-term solution for staying active and healthy. The trend towards home gym equipment sales demonstrates how consumers adapted their fitness habits in response to the challenges posed by the pandemic, signaling a lasting change in the fitness industry landscape.
U.S. online sales of sporting goods reached 13.8 billion U.S. dollars in 2019.
The statistic ‘U.S. online sales of sporting goods reached 13.8 billion U.S. dollars in 2019’ highlights the total monetary value generated from the sale of sporting goods through online channels within the United States during the specified year. This figure indicates the significant market size and consumer demand for sporting goods purchased online, demonstrating the increasing popularity and convenience of e-commerce in the retail sector. The $13.8 billion in sales reflects the total revenue generated by various online platforms, retailers, and brands in the sporting goods industry, showcasing the economic impact and growth potential of online sales within this specific market segment.
The global gym equipment market size was valued at USD 12.01 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028.
The statistic indicates that the global gym equipment market was worth USD 12.01 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. This growth rate suggests a steady increase in market size over the forecast period, indicating a positive trajectory for the gym equipment industry. Factors such as increasing health consciousness, rising disposable incomes, and a growing emphasis on fitness and wellness are expected to drive the demand for gym equipment globally, leading to the projected growth rate. The data suggests opportunities for market players to capitalize on this trend and expand their presence in the gym equipment market.
Global sports fishing equipment market is expected to reach $15.93 billion by 2027 at a growth rate of 3.9%.
This statistic predicts the future size of the global sports fishing equipment market, estimating it to reach $15.93 billion by the year 2027. The growth rate for this market is projected to be 3.9%, indicating a steady increase in demand and revenue for sports fishing equipment over the forecast period. This forecast suggests that the sports fishing industry is expected to expand, driven by factors such as increasing participation in recreational fishing activities, technological advancements in fishing gear, and growing disposable income levels in key markets. If current trends continue, the sports fishing equipment market is set to experience significant growth and present opportunities for businesses operating in this sector.
Global sports protective equipment market is anticipated to surpass USD 12.1 billion by 2027 at a growth rate of 3.9% from the year 2020 to 2027.
This statistic indicates that the global sports protective equipment market is projected to exceed USD 12.1 billion by 2027, with a compound annual growth rate of 3.9% from 2020 to 2027. This growth rate suggests a steady increase in the demand for sports protective equipment over the forecast period, driven by factors such as rising awareness about sports safety, increasing participation in sports activities, and technological advancements in protective gear. The anticipated growth highlights opportunities for manufacturers and retailers in the sports equipment industry to expand their product offerings and cater to the needs of athletes and sports enthusiasts worldwide.
The market for sports equipment in China is projected to reach a value of $107.19 Billion by 2025, registering a CAGR of 7.92% during 2020-2025.
The statistic indicates that the market for sports equipment in China is expected to grow significantly over the forecast period, reaching a value of $107.19 billion by 2025. The Compound Annual Growth Rate (CAGR) of 7.92% during the period of 2020-2025 suggests a steady and consistent increase in the market size. This growth rate reflects the growing interest and participation in sports activities in China, driving the demand for sports equipment across various segments. The projection highlights the potential opportunities for businesses operating in the sports equipment industry to expand and capitalize on the evolving market trends in China.
Conclusion
The statistics highlighted in the sports equipment industry showcase the continuous growth and popularity of sports and fitness activities. With increasing awareness about health and wellness, the demand for sports equipment is expected to rise further in the coming years. This industry offers a lucrative market for manufacturers, retailers, and investors alike, providing ample opportunities for expansion and innovation. Stay tuned for more insights and trends in the dynamic world of sports equipment.
References
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