Roller Skates & Skateboards Leads $11 Billion Alternative Sports Equipment Market in US
Increasing trend of adventure vacations, growing
concerns over health issues such as obesity and hectic lifestyles coupled with rising
disposable income to drive US alternative sports equipment market
According to TechSci
Research report, “United States Alternative
Sports Equipment Market, By Type, Competition Forecast & Opportunities, 2012 - 2022”, alternative sports equipment market in the US is
projected to grow to over $ 13 billion by 2022. Growth in the market is
anticipated on account of increasing population, rising disposable income, integration
of technology in sports equipment coupled with increasing participation of
women in sports across the country. Obesity
rates have been steadily creeping up in the US, and in 2015, it was reported
that over 17% of American youngsters between the ages 2 and 19 were obese. This
has forced the American government into taking initiatives to counteract the
problem by improving infrastructure and by encouraging citizens to participate
in outdoor activities. Also, with steady increase not just in real wages but
also in disposable incomes, where Americans earned over $ 38 thousand
disposable income per capita in 2015, per capita spending towards buying sports
equipment has increased over the last few years in the country.
Browse 8 market data Tables and 26 Figures
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Equipment market"
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Black
Diamond Equipment Inc., Tecnica Group S.p.A., Cannondale Bicycle Corporation, Boardriders
Inc., and Johnson Outdoors Inc. are some of the leading
players operating in the US alternative sports equipment market. In terms of
regions, South region dominated the market with a share of more than 30% in
2016. This region is expected to generate significant demand for alternative sport
equipment, and consequently, is anticipated to remain dominant through 2022 due
to increasing population, growing number of young sports enthusiasts, rising disposable
income and increasing interest in adventure sports.
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“Increasing
youth population, rising per capita income, growing percentage of women joining
sports, continuous development and innovations in sports equipment and
increasing government initiatives to decrease obesity are few of the major
factors responsible for steering growth of alternative sports market in the
US.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm. Alternative sports market can be broadly categorized into snowboarding,
archery, mountain biking, surfing, skating along with various other alternative
sports equipment. Archery and surfing have emerged as the two fastest growing
demand segments. Surfing’s rapid growth in the forecast period can be
attributed to the popularity of the recreational
activity, especially among the population in the age group of 15-35 years, as
it is seen both as a weekend getaway away from a hectic lifestyle and also
satisfies their desire for an adrenaline fuelled adventure.
“United States Alternative Sports
Equipment Market By Type, Competition Forecast & Opportunities, 2012-2022” has evaluated the future growth potential of US alternative
sports equipment market and provides statistics and information on market
structure, size, share and future growth. The report is intended to provide
cutting-edge market intelligence and help decision makers to take sound
investment evaluation. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in the United States alternative sports market.
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