The sports equipment industry is a crucial sector with a significant role in the growth of the global sports and fitness industry. The industry caters to the needs of the sports and fitness world by manufacturing and distributing various sports-related products used by athletes, teams, and fitness enthusiasts. The sports equipment industry depends on certain factors for growth such as awareness of good fitness habits, improved technology, and adoption of an active lifestyle.
Smart technology in sports equipment is currently one of the most popular market trends. Smart sports equipment such as smart fitness watches, fitness trackers, and automated food weighing equipment are allowing people to reach their fitness goals easily. The key sectors in this industry are sportswear, sports footwear, swimwear, water sports equipment, golf equipment, etc.
The total revenue in the sports equipment market has so far been valued at $160.90 billion in 2023. The annual growth forecast of this market is 6.02% between 2023 and 2028. The highest revenue is generated in China ($37,320 in 2023). The sportswear segment generated around $191 billion in revenue in 2022. The sportswear sector is expected to generate bigger revenue in the coming years and reach around $249 billion by 2026. Sporting goods store sales in the U.S. amounted to around 64.5 billion in 2021, which is a considerable increase compared to the previous year.
In 2020, the global cardio fitness equipment market was valued at approximately $5.1 billion. The most important and valuable product category in fitness equipment is cardiovascular machinery. The market value of the sports and swimwear segment in the U.S. was estimated at $67.4 billion in 2021 and is expected to reach $85 billion by 2026.
The sports equipment sector is a crucial sector for the entire sports and fitness industry around the world. Numerous exhibitions are held to promote and introduce new sports technologies to the world. Here are the most important sports and fitness events that you can attend:
ISPO Munich: A prominent trade show in the sports equipment and accessories sector. It is a complete sports exhibition that covers all the aspects of fitness and sports. The event is organized to promote and endorse the latest innovations in different sports. From outdoor sports to gym equipment, from water sports to combat sports, it covers the entire sports ecosystem. It provides a perfect opportunity for sports industry professionals and enthusiasts to discover the latest developments in the industry.
ISPO Shanghai: An ISPO event held in Shanghai where the leading sports equipment businesses from China and foreign countries come together. The event is an ideal platform to network with the global sports community and witness the latest innovations in the sports world. A wide variety of equipment and fitness products are available at this event for various types of outdoor and indoor sports.
Dubai Muscle Show: Middle East’s largest event for the sports and fitness community held in Dubai. The event is a meeting place for fitness enthusiasts, especially bodybuilders from all over the world. Attendees can access the world’s best and most recent fitness equipment, training tips, and expert advice from fitness experts. A diverse range of sports are covered in the event from calisthenics, boxing, mixed martial arts, bodybuilding and weightlifting etc.
Asia Outdoor: A comprehensive sports show dedicated entirely to the great outdoors. A wide variety of outdoor equipment and tools are available at this event. Camping experts and brands join the show as exhibitors and share their latest innovations. The event takes place in Nanjing, China, and provides visitors a valuable chance to engage with the global sports and fitness community one on one.
The sports equipment sector is thriving for the past few years as more and more people are becoming health-conscious. The industry has come a long way in terms of innovation and development with faster and more effective technologies. The sports equipment sector caters to the demands of various sports and fitness activities. The key segments of the sports equipment industry are gym equipment, water sports equipment, sports fashion, golf equipment, sports information technology sources, sports balls, rackets and bats, protective sports gear, cycling equipment, camping equipment, mountain sports equipment, organic food sector, medical and health sector , etc.
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