CLEVELAND, Aug. 22, 2016 /PRNewswire/ -- US demand for sports equipment (valued at manufacturer-level prices) is forecast to total $16.6 billion in 2020, representing growth of 2.3% per year from $14.8 billion in 2015. Increasing personal disposable incomes and rising consumer spending will boost demand. In addition, growing interest in activities that improve health and combat obesity are expected to drive gains. However, additional sales will be limited by competition from other leisure interests. Spending on smartphones, tablets, and other electronics is increasing and absorbing discretionary income that consumers might have otherwise spent on sports equipment and activities.
These findings are featured in Sports Equipment: United States, a report recently released by Freedonia Focus Reports, a division of the The Freedonia Group.
Full Report Cites Threat of Substitutes as Historical Driver
US demand for sports equipment sees considerable volatility – with an r-squared of 0.13 for the decade to 2015 – due to the discretionary nature of such purchases. Demand fluctuates along with consumer spending but is also subject to substitution. Under unfavorable economic conditions – such as the Great Recession of 2007-2009 – consumers can easily find cheaper alternatives to meet their fitness needs and are able to postpone replacement purchases.
The full report, Sports Equipment: United States, forecasts US sports equipment demand and shipments in US dollars at the manufacturers' level to 2020. Total demand is segmented by product in terms of:
- gymnasium and exercise equipment
- golf equipment
- water and winter sports equipment
- team sports equipment
- fishing equipment
- playground equipment
- other sports equipment such as billiards equipment, bowling equipment, and racket sports equipment.
Re-exports of sports equipment are excluded from demand figures.
To illustrate historical trends, total demand, total shipments, and the various segments are provided in annual series from 2005 to 2015.
Further analysis includes an Industry Structure section, which surveys the supply base and identifies the leading firms competing to meet US demand. A one-page, introductory Highlights section summarizes key findings from this 23-page report, and a Resources section lists contributing sources as well as resources available for further research.
Please link any media or news references to our reports or data back to www.freedoniagroup.com.
About Freedonia Focus Reports
Each month, The Freedonia Group publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- Total historical market size and industry output
- Segmentation by products and markets
- Identification of market drivers, constraints, and key indicators
- Segment-by-segment outlook in five-year forecasts
- A survey of the supply base
- Suggested resources for further study
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/freedonia-focus-reports-us-sports-equipment-demand-growth-to-average-23-annually-through-2020-300315638.html
SOURCE The Freedonia Group