Sports Equipment Market Trends

Global Sports Equipment Market size was valued at USD 375.18 Billion in 2023 and is poised to grow from USD 399.19 Billion in 2024 to USD 655.71 Billion by 2032, growing at a CAGR of 6.4% in the forecast period (2025-2032).

In the sports equipment industry, competition is fierce and there is a constant drive towards creativity. New entrants looking to establish themselves are trying to gain market share with established brands that have a strong focus on making technological changes and diversifying the products. New companies come up with high end products by doing research and development, using new materials and improving the product performance features. This type of environment gives consumers plenty of options ranging from the old and established brands to the newer companies that offer new products. Also, this market is very competitive and therefore sustaining this competitiveness requires understanding consumer preferences and changing trends, and using effective marketing techniques, endorsements from sportsmen and forming joint ventures are critical for determining company’s success in this market. 'ANTA Sports Products Ltd.', 'ASICS Corp.', 'Clarus Corp.', 'Cosco India Ltd.', 'DICKS Sporting Goods Inc.', 'Freewill Sports Pvt. Ltd.', 'JD Sports Fashion Plc', 'Mizuno USA Inc.', 'New Balance Athletics Inc.', 'Nike Inc.', 'PUMA SE', 'Reebok International Ltd.', 'Sanspareils Greenlands Pvt Ltd.', 'Sareen Sports Industries', 'Skechers USA Inc.', 'SKIS ROSSIGNOL SAS'

The rise of women participating in sports is a significant growth driver for the market. Over the past few years, there has been a notable increase in female participation across various sports disciplines supported by initiatives from sports federations and organizations aimed at promoting gender equality in athletics. This shift is not only changing the dynamics of sports but also expanding the market for sports equipment tailored specifically for women. As more women engage in sports, there is a growing demand for equipment that meets their specific needs, from apparel to specialized gear. This trend signifies a cultural shift that is reshaping the sports landscape and creating new avenues for growth in the market.

Increasing Popularity of Fitness and Wellness: A significant trend shaping the value of sports equipment market is the growing popularity of fitness and wellness. As more individuals prioritize their health, there has been a marked increase in participation in fitness activities, including gym workouts, yoga, and outdoor sports. Fitness influencers and social media platforms have played a crucial role in promoting various fitness regimes, encouraging people to invest in sports equipment that enhances their workout experience. This includes everything from home gym equipment like weights and resistance bands to specialized gear and sports equipment storage ideas for activities such as running, cycling, yoga, and organizing.

North America is dominating with the largest sports equipment market share. Countries like the United States is leading the regional sports equipment industry because of the increasing focus on sports, growing expenditure power, and technical enhancements. The rising popularity of sports like football, basketball, baseball, and more is encouraging the regional government bodies to develop arenas. This will help them to offer its citizens with more sporting options. This is anticipated to create a favourable position for market growth during the forecast period. Furthermore, people have also become more aware about their health and fitness because of the increased prevalence of obesity and multiple health problems from a sedentary lifestyle. For maintaining a healthy and active lifestyle, outdoor activities have increased, which is driving the growth of sports equipment market.