Market overview:

The Global Sports Equipment and Apparel Market was worth 470,403 million US dollars in 2019, and it is determined to reach about 817,170 million US dollars by 2027. The market is supposed to increase at a CAGR of 7.2% during the forecast period of 2021 to 2026.

Market Drivers and Restraints:

Increasing awareness regarding sports and fitness across the globe drives the Sports Equipment and Apparel Market revenue rate. Also, increase in consciousness about the benefits of engaging in sports activities, rise in expenditure on sports training and development among the children are some of the factors that propels the growth of Sports Equipment and Apparel Market. Factors such as increase in proclivity of kids in indoor leisure activities along with the rise in terrorism, political influence on sports events, etc., are some of the restraints effecting the revenue rate of the worldwide Sports Equipment and Apparel Market.

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Report is segmented as:

The Global Sports Equipment and Apparel Market is categorized based on product type, sports type and distribution channel. By product type, the market is divided as equipment, apparels and shoes. By sports size, the Sports Equipment and Apparel Market is segmented into bike, outdoor, tennis, football, winter sports, water sports and others. By distribution channel, the market of sports equipment and apparel is bifurcated into two types, namely online and offline.

Geographical Segmentation:

North America holds the major share of the Global Sports Equipment and Apparel Market owing to the growth in adoption of sports and recreational activities in the region especially in the United States. This region is also foreseen to hold the dominance of the market over the conjecture period. Asia Pacific region holds the second largest share of the Sports Equipment and Apparel Market because of the increasing awareness about the sports activities in this locale.

COVID-19 impact on Sports Equipment and Apparel Market

Due to coronavirus pandemic, all the end-user verticals are witnessing financial crisis due to the temporary shutdown of their businesses due to lockdown imposed by the government authorities. The companies related to Sports Equipment and Apparel Market expected to boost up their business, since the government authorities have recently lifted the lockdown. As per the analysis, the Sports Equipment and Apparel Market is expected to record an increase in the next few years because of the increasing prevalence of chronic diseases all over the world.

Key market players:

Major players of the Global Sports Equipment and Apparel Market are Puma SE, Under Armour Inc., Amer Sports Corporation, Decathlon S.A., Nike, Inc., Adidas AG, ASICS Corporation, Gap Inc., and V.F. Corporation New Balance, Inc.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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