Global Running Gears Market to Reach USD 62,726.60 Million by 2031 | CAGR of 10.9%
Category : Automotive Services | Published Date : Nov 2024 | Type : Press Release
Running Gears Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Running Gears Market size was valued at USD 27,440.37 Million in 2023 and is projected to reach USD 62,726.60 Million by 2031, growing at a CAGR of 10.9% from 2024 to 2031. Running gear refers to specialized footwear, apparel, and accessories designed to enhance comfort, performance, and safety for runners. These products, such as running shoes, moisture-wicking clothing, and accessories like GPS watches, support runners by improving efficiency, preventing injuries, and ensuring comfort.
The report comprises the Running Gears Market Share, Size & Industry Analysis, By Product (Running Footwear, Running Apparel, Running Accessories, Fitness Trackers), Distribution Channel (Online Retailers, Retail Stores, Sports Specialty Stores, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Running Gears Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increasing health awareness and participation in running events and advancements in sustainable running gear drive market growth. Additionally, the shift towards online retail channels offers growth opportunities.
Segmental Analysis :
Based on product, the market is segmented into running footwear, running apparel, running accessories, and fitness trackers.
- Running footwear accounted for the largest share of 41.49% in 2023, driven by its performance-enhancing features like shock absorption and breathability, critical for safety and comfort.
- Running apparel is anticipated to register the fastest CAGR due to innovations like moisture-wicking fabric and reflective elements for low-light safety, enhancing performance and comfort.
Based on distribution channels, the market includes online retailers, retail stores, sports specialty stores, and others.
- Online retailers dominated the market in 2023, driven by competitive pricing, accessibility, and convenience, offering a vast selection of running gear.
- Online retailers are also projected to grow at the fastest CAGR, benefitting from discounts, customer reviews, and improved logistics for quick delivery.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2023, with demand driven by urbanization and increased health consciousness, particularly in China and India.
- North America is expected to grow at a high CAGR due to the influence of marathons, fitness culture, and endorsements by athletes and celebrities.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 62,726.60 Million |
| CAGR (2024-2031) | 10.9% |
| By Product | Running Footwear, Running Apparel, Running Accessories, Fitness Trackers |
| By Distribution Channel | Online Retailers, Retail Stores, Sports Specialty Stores, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Running Gears Industry:
- Nike Inc. (USA)
- Adidas AG (Germany)
- Under Armour Inc. (USA)
- New Balance Athletics, Inc. (USA)
- Skechers USA, Inc. (USA)
- ASICS Corporation (Japan)
- Columbia Sportswear Company (USA)
- Puma (Germany)
- NEWTON RUNNING (UK)
- Fitbit (USA)
Recent Industry Developments :
- In January 2024, Asics launched Nimbus 25, a running shoe with PureGEL technology and FF BLAST PLUS ECO cushioning, enhancing comfort and performance.
- In April 2024, Nike partnered with Patta to release the Nike x Patta Running Team Collection, including apparel and footwear, merging running and lifestyle aesthetics.
