The global sports equipment market size hit a substantial valuation in 2023. The market is poised to grow at a remarkable CAGR over the forecast period.

The various types of equipment used in the sports industry comprise racquets, gears, skates, helmets, balls, and shoes, among others. The soaring awareness regarding a healthy lifestyle and the benefits of sports is expected to drive the industry expansion.

Fortune Business Insights™ provides this information in its research report, titled “Sports Equipment Market, 2024-2032”.

COVID-19 Impact:

Cancellation of Sports Tournaments Significantly Affected Market Growth

The COVID-19 pandemic significantly impacted the industry expansion considering the imposition of lockdown restrictions and the resultant shutdown of sports academies. The period also recorded the cancellation of numerous sports tournaments. However, the increased focus on physical fitness boosted product adoption through the online channel of distribution across various regions.

Information Source: https://www.fortunebusinessinsights.com/sports-equipment-market-107963

Top Company in the Sports Equipment Market:

• Adidas AG (Germany)
• Nike, Inc. (U.S.)
• Puma SE (Germany)
• Under Armour (U.S.)
• Sports Direct International PLC (U.K.)
• Amer Sports (Finland)
• Callaway Golf Co. (U.S.)
• Mizuno Corporation (Japan)
• Yonex Co., Ltd (Japan)
• NEW BALANCE (U.S.)

Segmentation:

Balls Segment to Register Leading Share Due to Surging Popularity of Sports with Ball as the Main Equipment