The global summer sports equipment market size is expected to reach USD 35.60 billion by 2028, registering a CAGR of 3.6% over the forecast period, according to a new report by Million Insights. Growing awareness regarding rehabilitation and strength training across the globe will propel the market growth. The market growth is owing to the rising demand for machine-stitched balls, especially from the Europe region. Moreover, the growing demand for technologically advanced tennis racquets from global consumers is propelling the market growth.
However, the costly product-line of the summer sports equipment may hinder the market growth over the forecast period. Most of the key players are focusing on providing torsional stability for the light-weighted tennis racquet. The major players are also focusing on amplifying the swing technology for golf balls. Key players are procuring the steel shafts with polyethylene bases for hockey sticks. The easy maintenance process and the superior finishing for golf balls are propelling the market growth.
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Equipment for the golf and tennis segment will register the highest CAGR over the forecast period. This can be credited to the growing demand for pure aero unstrung-based tennis racquets from consumers in the U.S. and Germany. The increasing demand for utility irons-based equipment for golf will boost the market growth. The water-sports type segment is also likely to have significant growth during the forecast period. The rising popularity of water sports, such as rowing, sailing, and surfing, across the globe is anticipated to fuel the market growth. Rapidly growing demand for psycho nitro-based surfboards in the U.S. for water sports is also driving the segment growth.
The offline distribution channel segment held the largest revenue share of the global market in 2020. The growing demand for conquest tennis racquet products in developing countries, such as China and India, will build the network of sports equipment suppliers and resellers. Ease of cash transaction service with effective client relationships is a major factor propelling the growth of the offline segment.
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Summer Sports Equipment Market Report Highlights
• North America accounted for the largest revenue share of the global market in 2020 due to the growing demand for machine-stitched balls from the consumers of the U.S. and Canada
• Moreover, the growing demand for Evoke 102 Wimbledon Strung tennis racquet from the consumers of the U.S. is projected to boost the market growth
• Moreover, the rising demand for smart basketball products in the U.S. is anticipated to boost the market growth
• The balls segment accounted for the highest revenue share of more than 40% of the global market in 2020
• The rising demand for smart medicine balls, smart soccer balls, and softest golf balls is boosting the segment growth
• Asia Pacific is projected to witness the fastest CAGR from 2021 to 2028 owing to the growing demand for surfboards and sailboards, especially from countries, such as China and India
• The online distribution channel segment is projected to register the fastest CAGR growth during the forecast period
• Value-added product description and efficient delivery services with effective maintenance solutions offered by e-commerce portals are some of the major factors driving the online segment
Summer Sports Equipment Market Segmentation
Million Insights has segmented the global summer sports equipment market on the basis of type, distribution channel, and region:
- Summer Sports Equipment Type Outlook (Revenue, USD Million, 2017 – 2028)
- Water-sports Equipment
- Equipment for Golf & Tennis
- Summer Sports Equipment Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
- Summer Sports Equipment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
List of Key Players of Summer Sports Equipment Market
- DribbleUp, Inc.
- Adidas AG
- Wilson Sporting Goods
- BABOLAT VS S.A.
- HockeyShot, Inc.
- Zepp Labs, Inc.
- Gridiron Technologies
- Nike, Inc.
- JS Industries
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