Sports and Leisure Equipment market covers a wide range needs dealing with health & fitness, leisure and recreational purposes. As many people enjoy leisure and do not perform physical activities in their day to day lives, sports have become the way to keep body healthy and fit. Besides providing health benefits, sports are now perceived as an outlet for fashion statement, personal accomplishments, and medium of social engagement. Increasing consumer awareness towards health and fitness, growing participation in sports activities, rising prevalence of obese population are the major factors driving the global sports and leisure equipment market. In addition, increasing demand of light-weight sports equipment which is portable, help consumers gain high performance are contributing to the factors. Highly potential customers such as athletes, and gym personnel now demand for products that are suitable to their needs. Considering this, major market players provide customized sports and leisure equipment that meet customer requirements.
The growing trend towards participation in several sports and leisure activities has increased the demand for fitness equipment. Major sports equipment manufacturers merge sports products with leisure wear to meet the demand for fashionable sportswear contributing to satisfaction of consumers. It can be a potential opportunity for market players over the forecast period. Mergers and acquisition activities is being driven by a various factor such as to procure new technologies, capture growth opportunities in developed and emerging markets and expand into new product categories. Companies are coming up with advanced technologies to provide users with the ability to map, record and share their workouts, solutions for how athletes train and perform. Niche players are primarily on strong marketing and distribution activites to increase scale and drive higher margins.
The major factor expected to hinder the growth of the market over the forecast period is a significant increase in the number of counterfeit sports and leisure equipment resulting an adverse effect on revenues and brand name of established vendor.
The global sports and equipment market report has been segmented on the basis of type of sport, end-use verticals, distribution channel and region. On the basis of region, the global Sports and leisure equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America dominates the sports and leisure equipment market in terms of revenue. The market in Asia Pacific is projected to have fastest growth with highest CAGR, owing to increasing adoption for equipment are expected to boost growth of the sports and leisure equipment market.
Key players in the global sports and leisure equipment market include, Adidas AG, Billabong International Limited, Cabela’s Inc., Callaway Golf Company, Dunlop Sports Group Americas Inc., Daiwa Seiko Corp., Kingswood Leisure Services, Nike Inc., Ningbo Supermax Sports & Leisure Equipment Co. Ltd., Premier Ports Services, Puma EC, The Forzani Group Limited, Sports Direct International PLC, and Yonex Co. Limited.