Running gear market is anticipated to grow at a CAGR of 6.5% during the forecast period. Running gears are several types of equipment that are used while running. Several products available for running include apparel, sensors, footwear, fitness tracker & wearables, and others. The major factor attributing to the growth of the global running gear market includes the rising inclination of people toward sports activities. According to an article published by Pledge Sports, the interest of people in sports is significantly increasing over the years. Soccer, badminton, hockey, volleyball, and basketball are the top 5 sports with a large number of people interested in these sports. The number of players is estimated at around 265 million people playing soccer, 220 million people playing badminton, 998 million people playing Volleyball, 450 million people playing basketball, and hockey being played in 100 countries on 5 continents. Thus, increasing interest of people in sports for practice & playing is expected to propel the market growth during the forecast period.

Segmental Outlook 

The global running gear market is segmented based on product type and distribution channel. Based on the product type, the market is segmented into running footwear, running apparel, running accessories, fitness trackers, and others. Based on the distribution channel, the market is further segmented into sports specialty stores, supermarkets & hypermarkets, online stores, and others. The online store segment is expected to hold a remarkable share in the market during the forecast period. The increasing internet penetration and availability of a wide range of products and the availability of lucrative offers and discounts attract consumers, which further drives the growth of the market during the forecast. 

Among the product type, fitness trackers are expected to hold a prominent market share in the market during the forecast period. The rising health issues among people are creating demand for fitness trackers as it provides a visual of progress and accomplishments each day. Fitness trackers are a popular way to keep track of progress and wearers can track steps, calories, distance traveled, caloric intake, and even heart rate and sleep which is contributing to the market growth. The technological advancements in fitness trackers are expected to drive market growth during the forecast period. For instance, in June 2022, Xiaomi launched Band 7 the latest fitness tracker in the global market. The fitness band sports an AMOLED display and comes with more than 100 watch faces. The device offers more than 100 sports modes and a water-resistant design. Further, Xiaomi Band 7 comes in a black color option with interchangeable straps. 

Regional Outlook

The global running gear market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific region is expected to hold a considerable share in the market during the forecast period owing to the rising disposable income levels coupled with growing awareness for exercise and physical fitness among individuals. For instance, according to the Reserve Bank of India (RBI), net national income has increased from 8,766,345 in 2012-13 to 16,837,219 in 2018-19.

Global Running Gear Market Growth, by Region 2022-2028

North American Region Hold a Significant Share in the Global Running Gear Market 

Among all regions, the North American region is expected to hold a significant share in the market. The growing public awareness of a healthy lifestyle due to increasing obesity is contributing to the demand for running gear products. Leading a healthy lifestyle can support avoid people from getting serious illnesses and to avoid serious health issues people are focusing on fitness centers, consulting services, and joining programs for weight loss which is expected to create a positive impact on the running gear market. According to the Centers for Disease Control and Prevention (CDC), obesity is a complex health issue resulting from a combination of causes and individual factors such as behavior and genetics. Obesity is also associated with the leading causes of mortality in the US and globally, including diabetes, heart disease, stroke, and some types of cancer.

Market Players Outlook

The major companies serving the global running gear market include Nike Inc., Adidas AG, and Under Armour, Inc., among others. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, Puma will become an official partner of the competitive gaming organization’s League of Legends Championship Series (LCS) team and will have its logo adorn the chest of the team’s jersey. The tie-up also designates Puma as the official gameday pants and shoe provider of Cloud9. Furthermore, the deal also includes uniforms for team management, meaning Puma will be providing women’s apparel. The deal will initially cover the 2019 spring LCS season, although the two parties are open to expanding their collaboration in the future.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global running gear market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.