About Running Gears
Clothing, footwear, and different adornments, for example, wellness trackers, wearable gadgets, programming, and so on utilized for running just as for related exercises and functions are considered as running gear items. Running gear is the accessories utilized by individuals during wellness exercises and running. Running is considered as probably the best type of activity to upgrade wellness. The expanding remaining task at hand and changing ways of life are the main considerations driving the requirement for solid living. Developing work pressure in the private area and expanding the reception of wellness wearable in the field of medication has supported the development of the running apparatus market to an enormous degree.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Global Running Gear Market contains the presence of international brands as well as regional players. Customizations on athletic and sports shoes as well as improving the product portfolio are the main objectives of these players. Premiumization can provide growth avenues but affect pricing strategy. Players are making efforts to assist healthcare workers and bring the economic situation under control by making donations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Running Gears market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Adidas Group (Germany), ASICS (Japan), New Balance (United States), Nike (United States), Skechers USA (United States), Amer Sports (Finland), Berkshire Hathaway (United States), Columbia Sportswear Company (United States), Fitbit (United States) and Garmin (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kering (France), Newton Running(United States) and Sequential brands group (United States).
Segmentation Overview
AMA Research has segmented the market of Global Running Gears market by Type (Running Footwear and Running Apparel), Application (Health Club, Health club/gym, Other commercial use and Home consumer) and Region.
On the basis of geography, the market of Running Gears has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Distribution Channel will boost the Running Gears market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Female will boost the Running Gears market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing online sales channel and market strategies
Market Growth Drivers:
The growing demand for comfortable and advanced running footwear and apparel and Marathons are becoming popular as well, with participation open to all is another key driving factor of growth
Challenges:
low-quality products can hamper brand image
Restraints:
Increasing the availability of Substitutes
Opportunities:
Growing Opportunities in the developed countries in the Americas and Europe
Market Leaders and their expansionary development strategies
SCOTT Sports India, a subsidiary of SCOTT Sports, has announced a partnership with Mumbai Runners, a fitness platform, for creating awareness in trail running. The collaboration aims to create awareness on trail running and educate enthusiasts and outdoor lovers.
In February 2019 Skechers USA buys out Future Group’s 49% stake in Indian JV. Skechers is looking to rapidly expand its retail network in the country. With this deal, Skechers India has become a wholly-owned subsidiary of the American footwear major.
The Consumer Product Safety Improvement Act (CPSIA) enacted in 2008 regulates specific substances in children’s products including children’s footwear. The CPSIA sets limits for lead content and phthalates in children’s products.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Running Gears Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.