Track and Field Spikes Market to Touch US$16.88 Billion by 2025, Says TMR
As these key players are aggressively focusing on product innovation and advancements in the current offerings to gain greater visibility, the competition within the market is likely to intensify further in the years to come.
The global market for track and field shoes stood at US$13.13 bn in 2016. Rising at a healthy CAGR of 2.90% from 2016 to 2025, the opportunity in this market is likely to touch US$16.88 bn by the end of 2025. In terms of volume, the market is anticipated to cross 262.8 million units mark by 2025.
Browse Report:http://www.transparencymarketresearch.com/track-field-spikes-market.html
Increase in E-Commerce to Boost Online Sales of Track and Field Spikes
The global market for track and field spikes shoes is heavily influenced by strong sales and distribution network. Offline distribution channel captured a significant market share in 2016. The increase in e-commerce among the key players anticipated to boost the demand for the global track and field spikes shoes during the forecast period.
Geographically, the research report of track and field categorizes the global market for track and field spikes into North America, Europe Asia Pacific, Middle East, Africa and Latin America. It further presents a detailed comprehensive analysis of the global market on the basis of the performance of these regional markets. Amongst all, the Europe led the global market with a share of more than 38% in 2016. The increasing number of manufacturers in track and field spikes shoes, together with the rising product innovation through continuous research and development, is anticipated to propel the Europe market for track and field spikes in the forthcoming years.
The rising number of distribution channels and the growing product innovation has been the key factor behind the growth of this regional market. Germany, followed by France, has emerged as the leading domestic market for track and field spikes in Europe. Led by the growing number of events of track and field in all these countries, the growth for track and field spikes market in Europe is expected to be optimistic in the future.
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Increase in Sports Participation to Fuel Demand
"The increasing sports participation rates in the developing regions are generating opportunities for the global track and field spikes market," says an analyst at TMR. Sports are considered as a powerful tool of development and progress of the economy.
Rapid prospects for the athletes over the years in track and field sports and pursuing it as a professional career are generating opportunities for key players to expand their market in the global track and field spikes shoes. However, rise in number of counterfeit products may restrict the market's progress to some extent in the near future. Nevertheless, the lucrative potential of sports from developing economies is likely to open new growth avenues for market players in the years to come, states the research report.
The study presented here is based on a report by Transparency Market Research (TMR), titled "Track and Field Spikes Market (Category Type - Run (Sprint, Mid Distance, and Cross), Jump ( Long Jump, Triple Jump, Pole Vault, and High Jump), and Throwing (Javelin); By Gender - Male and Female; Distribution Channel - Online Distribution Channel and Offline Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
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The segments covered in the global track and field spikes shoes market are as follows:
By Category Type
By Gender
By Distribution Channel
By Geography
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