Global sports equipment market targets $81.8 billion by 2020

Ball sports are predicted to be the largest segment in the industry, taking 26.6 percent of the share.

The global sports equipment market will be valued at $81.82 million by 2020, registering an annual growth of 3 percent, according to a report by Persistence Market Research.

Among the segments, which include equipment for indoor and outdoor sports, including archery, billiards and bowling, ball sports are forecasted to grow the largest. It will reportedly take up 26.6 percent of the entire market share at a CAGR of 3.6 percent.

On-going demand for sports equipment is primarily attributed to the adoption of a healthier and fitter lifestyle in most countries, consumers' increased participation in sports, and wider media coverage of such activities as the Olympics and FIFA World Cup. Technological innovations also play a part in this market, as evidenced by a recent trend in which athleisure and fashionable sportswear have become common.

Economic growth is also a key factor in the global sports equipment growth during the forecasted period. In terms of regions, North America is the largest market shareholder, specifically the US, followed by Europe and Asia Pacific. Emerging countries include Japan, China, India and Australia.