CLEVELAND, Aug. 28, 2020 /PRNewswire/ -- US demand for sports equipment is forecast to grow 2.3% yearly in nominal terms through 2024, according to Sports Equipment: United States, a report recently released by Freedonia Focus Reports. 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. For instance, spending on smartphones, tablets, and other electronics is substantial, absorbing discretionary income and free time that consumers might have otherwise spent on sports equipment and activities.
COVID-19 has widely impacted the sports equipment market. Purchases of at-home gymnasium and exercise equipment will continue to see short-term gains as consumers seek a way to exercise during widespread gym closures. Furthermore, golf and fishing serve as relatively safe outdoor activities for consumers to take up as a method of getting out of the house, supporting gains.
These and other key insights are featured in Sports Equipment: United States. This report forecasts to 2024 US sports equipment demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
gymnasium and exercise equipment
water and winter sports equipment
team sports equipment
other sports equipment such as bike helmets, bowling equipment, and racket sports equipment
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009 to 2019.
Excluded from the scope of this report are bikes, fishing line, fishing nets, fishing seines, hunting gear (including firearms and ammunition), camping gear, and athletic apparel and footwear. Re-exports of sports equipment are excluded from demand figures.
About Freedonia Focus Reports Each month, The Freedonia Group – a division of MarketResearch.com – 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. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
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