World Running Gear Market Growing at 7.35% CAGR to 2020
PUNE, India, July 19, 2016 /PRNewswire/ --
The global running gear market analysts say a trend boosting market growth is the rise in product innovations as growing competition paves way for development of innovative running apparel and footwear with a focus on improving user experience. Individuals purchasing running shoes seek cost-effective and high-quality products that can improve their running skills and eventually assist them in running events. Consequently, leading players are launching products with advanced technologies that can improve their overall running experience.
Complete report on running gear market spread across 19 pages, analyzing 5 major companies and providing 44 data exhibits now available at http://www.sandlerresearch.org/global-running-gear-market-2016-2020.html.
The analysts forecast global running gear market to grow at a CAGR of 7.35% during the period 2016-2020. According to the report, a key growth driver is the awareness of the benefits of a physically active lifestyle. The global running gear market is being driven by the increasing awareness of the importance of leading a healthy lifestyle and being physically fit. Hectic work schedules and increasing health issues have been compelling people to opt for running as a form of exercise. As a direct result of this, the market is registering an increase in the demand for apparel, footwear, and gear that people use for running or jogging, and for participating in different running events.
Celebrity endorsements and other modern marketing strategies adopted by vendors in running gear market are spurring an increase in the demand for running gear across the globe. Some of the common promotional strategies include offering sponsored events, discounts, seasonal offers, and draws. At present, North America dominated the global running gear market by accounting for around 43% of the overall market share. Growing awareness of the resultant benefits of leading a healthy lifestyle and the high popularity of different running events in the region is expected to propel growth in the running gear market in North America by 2020.
In 2015, the running footwear segment occupied around a 60% share of the market and is expected to continue its market dominance over the forecast period. The increasing purchasing power of consumers in developing economies and growing consciousness about leading a healthy lifestyle and maintaining physical fitness are key factors influencing the growth of the global running footwear market. Increased investments in innovative marketing campaigns by prominent vendors are also expected to reflect positively on this market's growth potential in the coming years.
The following companies are the key players in the global running gear market: Adidas, ASICS, Nike, Puma, and Skechers. Other prominent vendors in the market are: Amer Sports, Brooks Sports, Columbia Sportswear, Eddie Bauer, Fitbit, Garmin, Jawbone, Misfit, and Newton Running. Order a copy of Global Running Gear Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=56620.
Global Running Gear Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global running gear market for 2016-2020. To calculate the market size, the report has taken into consideration the sales revenue generated by different types of running gear.
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