Market Introduction
The global running gears market is projected to be valued at USD 22.54 billion by 2023. This value will be accompanied by an ecstatic CAGR of 12% during the forecast period (2017-2023).
Drivers and restraints
The running gear market is expected to grow at a good rate in the coming years. A key growth driver is the awareness of the benefits of a physically active lifestyle. The growing awareness of the benefits of maintaining physical fitness and being healthy among the global population is helping in increasing the popularity of running. Increasing health issues and hectic work schedules 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 demand for footwear, apparel, and other gear that people use for jogging or running. Moreover, growing online sales of running footwear and gear is one of the major factors that will have a positive impact on the market’s growth. The advancement in technology has driven the growth of running footwear.
Key Players
The prominent players in the global Running Gears Market are
Seiko Epson Corporation (Japan)
Garmin International (U.S.)
Adidas (Germany), Apple Inc. (U.S.)
Fitbit (U.S.), Sensoria Inc (U.S.)
Suunto (Finland)
Altra Running (U.S.)
Stryd (U.S.)
Lumo Bodytech (U.S.)
Segmentation
The running gear market has been segmented based on product type, distribution channel, and region. In terms of product type, the running gear market has been classified into footwear, apparel, fitness wearable’s, software, and others. Based on distribution channel, the market has been segmented into online and offline. The running gear market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America on the basis of region.
Market Research Analysis:
The rise in the number of health-conscious consumers owing to the increasing awareness regarding the benefits of exercising and physical fitness is one of the prime factors contributing to the industry growth. Also, running is one of the most effective forms of exercises, which has immensely contributed to the popularity of comfortable running gear products. Moreover, consumers are increasingly inclined towards using advanced technologies on account of the rise in disposable income levels. Furthermore, manufacturers are also incorporating high-quality fabrics in running apparel and fashionable designs to attract new consumers. The rising trend of marathons across the globe is also contributing to the industry growth.
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Intended Audience
- Running gears manufacturing companies
- Original equipment manufacturers
- Running gears providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
Industry News
July2018 – The Nike has launched Nike Zoom Pegasus Turbo, and the advanced running shoe that is extremely light and is highly responsive to force. The material enables athletes to run faster and efficiently, with the more features such as immense support and properly cushioned. It is a remarkably comfortable technical shoe that will assist Nike to gain further foothold in the footwear industry as well as global running gears market.
Running Gear Market Research Report: By Sensors (3-Axis Accelerometer Sensor, Gyroscope Sensor, Altimeter Sensors, Temperature Sensor and Bioimpedance Sensor), Product (Footwear and Apparel, Fitness Tracker & Wearable and Software), Market Type (Online Retail, Specialty Stores and Departmental Stores) – Forecast till 2030
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive.
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