The global other sports equipment market size was valued at USD 30.12 billion in 2020 and is expected to expand at a compound annual growth rate (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.
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Rising inclination toward indoor activities, increase in the use of smartphones among the young generation due to rise in the internet penetration, and playing videogames may adversely hamper the market growth. Moreover, increasing leisure activities such as watching movies, virtual reality gaming, and live music shows may restrain the market growth.
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.
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 articles and equipment for table tennis segment will register the highest growth rate of 3.6% from 2021 to 2028 due to the significantly increasing demand for these products in the sports industry. Equipment for table tennis are in high demand mostly in Asian countries. It is one of the most widely used forms of other sports equipment.
The offline segment dominated the market with a share of over 65.0% in 2020. The demand for other sports equipment is rising among customers due to the more sustainability offered by these offline stores than any other channel. Hence, the segment is projected to witness growth during 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.
In Asia Pacific, the market is expected to register the fastest CAGR of 4.1% from 2021 to 2028. Constant improvements in materials used for manufacturing sports equipment are helping in enhancing product performance, thereby boosting the adoption rate. The demand for table tennis is seen increasing in this region. This will help to spur the sales of sporting equipment in this region.
The main focus of the companies is on innovating other sports equipment to meet the increasing demand. Various new players are entering the market due to the low entry barriers. The increasing demand for other sports equipment offers an opportunity for product development in regions where the demand is high. Some prominent players in the global other sports equipment market include
|
Report Attribute |
Details |
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Market size value in 2021 |
USD 30.93 billion |
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Revenue forecast in 2028 |
USD 39.35 billion |
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Growth Rate |
CAGR of 3.5% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, distribution channel, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; U.K.; France; China; Japan; South Africa; Brazil |
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Key companies profiled |
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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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global other sports equipment market report on the basis of product, distribution channel, and region:
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