Future Outlook of Australia Sports Equipment Market: Ken Research
In 2021, Australians aged between 25 and 34 years dominated the fitness and gym industry in Australia, with nearly 2 million Australians from the age group participating in fitness or gym activities during the year. That year, gym and fitness participation was the least popular among survey respondents aged 15 to 17 and 55 to 64 years.
Rising Consumer Interests in Sports: A high number of athletes have been admitted annually due to the rising interest in national and international competitions, which has increased demand for related firms, including those that manufacture sports equipment. The popularity of sports, especially ball sports, as a result of health and wellness trends, the growing importance of social media, and celebrity endorsement have all encouraged people to purchase different kinds of sports equipment.
Favorable Government Regulations: Over the past five years, operators in the sport equipment sector have encountered difficult circumstances. Demand for industrial goods has been hampered by changes in consumer attitude and discretionary money. Revenue for the sector has also been significantly impacted by intense competition from a variety of outside competitors, including pure-play internet operators, during the course of the time. However, during the past five years, possibilities for industry participants have been generated by government programs to support active lives. Australians’ rising health consciousness and a drop in the number of hours they work on average each week have also helped the industry’s bottom line.
COVID-19 Impact on Australia Sports Equipment: The expansion of the Australian sports equipment market and the sector as a whole was hampered by the coronavirus outbreak. Prior to the outbreak, the Australian sports equipment business was growing, but the lockdown presented a number of difficulties. The industry is now prospering. The possibility that the industry will grow has increased due to the market’s increasing development potential. The industry has experienced faster growth and will continue to do so nationwide.
Analysts at Ken Research in their latest publication “Australia Sports Equipment Market Outlook to 2027F – By Product (Ball over net games, Ball games, strength equipment, Athletic training equipment, Others) By Distribution Channel (Online retail, Specialty & sports shops and Department & discount stores), By Sports Type (Bike, Outdoor, Tennis, Other Racket Sports, Running, Fitness, Football/Soccer and Other Team Sports).” observed that Australia Sports Equipment Market is expected to showcase considerable growth in the coming five years. It is anticipated to grow more quickly in the next years owing to the growing consumer awareness about the health, rising fitness popularity and growing disposable incomes. The sports equipment market in Australia is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
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Key Segments Covered in the report
By Sports Type
- Bike
- Outdoor
- Tennis
- Other Racket Sports
- Running
- Fitness
- Football/Soccer
- Other Team Sports
By Distribution Channels
- Online retail
- Specialty & sports shops
- Department & discount stores
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By Product
- Ball over net games
- Ball games
- strength equipment
- Athletic training equipment
- Others
Key Target Audience
- Existing Sport Equipment Manufacturers in Australia
- Sports Companies aiming to establish in Australia
- Sports Equipment Industries
- Government Bodies & Regulating Authorities
- Online Game Industry
- E-Sports industry
- E-Sports users
- Industry Associations
Time Period Captured in the Report:
- Historical Period: 2017-2022P
- Base Period: 2022P
- Forecast Period: 2022P-2027F
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Companies Covered:
- Adidas AG
- IIC-INTERSPORT International Corporation GmbH
- NIKE Inc
- Super Retail Group Limited
Key Topics Covered in the Report
- Australia Sports Equipment Market Overview
- Australia Sports Equipment Market Segmentation
- Ecosystem and Business Cycle of Australia Sports Equipment Market
- Market Share of Major Players in Australia Sports Equipment Market
- Competition Scenario of Australia Sports Equipment Market
- Industry Analysis of Australia Sports Equipment Market
- Value Chain of Australia Sports Equipment Market
- Key Challenges of Australia Sports Equipment Market
- End User Analysis of Australia Sports Equipment Market
- Key Growth Drivers in Australia Sports Equipment Market
- SWOT Analysis of Australia Sports Equipment Industry
- Future Outlook of Australia Sports Equipment Market
- Trends and Development of Australia Sports Equipment Market
- Analyst Recommendations
- Research Methodology
For More Insights On Market Intelligence, Refer To The Link Below: –
Australia Sports Equipment Market
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