Rockville, Dec. 06, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, market research and competitive intelligence provider, the global sports flooring market is likely at US$ 2,667.9 million in 2022 and is expected to expand at a CAGR of 2.9% during the forecast years of 2022-2032.
Due to the athletic industry’s dynamic landscape, there is an increased demand for durable and safe sports floors. Market players are improving the product’s functional attributes, such as cushioning and shock absorption. Synthetic urethane, vinyl, and rubber flooring have grown in popularity as alternatives to conventional hardwood flooring.
Facility owners are highly incentivized to choose sports flooring that requires less care to reduce long-term costs. Rubber and synthetic sports floors are becoming more and more popular as a safe and comfortable alternative to wooden flooring in new construction projects around the world.
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One of the market leaders, Sports Group, has created smart tracks by incorporating sensors into its polymer sports surface. Sports Group is the only manufacturer of smart tracks worldwide, making this track unique in its class.
These tracks offer sophisticated performance-related diagnostics data to athletes and coaches right on their mobile apps. This, in turn, is increasing the amount of smart sensor-integrated polymer-based sports flooring that is installed globally. These factors are expected to cause an increase in sales of sports flooring to reach a market value of US$ 3,561.9 million by 2032.
|Sports Flooring Market Size (2021A)||US$ 2,600.5 million|
|Estimated Market Value (2022E)||US$ 2,667.9 million|
|Forecasted Market Value (2032F)||US$ 3,561.9 million|
|Global Market Growth Rate (2022-2032)||2.9% CAGR|
|North America Market Share (2022)||27.7%|
|North America Market Value (2022)||US$ 738.2 million|
Key Takeaways from Market Study
- The global sports flooring market is projected to grow 2.9% and reach US$ 3,561.9 million by 2032.
- The market witnessed a 0.5% CAGR between 2017 and 2021.
- The sports flooring dominates the market with US$ 2,667.9 million valuations in 2022.
- North America dominated the market with a 27.7% market share in 2022.
- Together, Europe and East Asia are likely to represent 51.7% market share in 2022.
- Based on region, demand for sports flooring is expected to increase at CAGRs of 2.8% and 3.4%, respectively, in Europe and East Asia by the year 2032.
“Escalating corporate sponsorships in the sports industry to act as a catalyst for the sports flooring sales over the forecast period,” says a Fact.MR analyst.
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The sports flooring market is extremely fragmented, with major competitors combining organic and inorganic methods to diversify their product offerings and expand their geographic reach.
To prevent margin leakage, manufacturers should concentrate on vertically integrating and fine-tuning their supply chains. To expand their product variety and user base, businesses should concentrate on forming partnerships with local manufacturers and distributors.
Key Companies Profiled
- Gerflor SAS
- Tarkett SA
- Kiefer USA
- Bauwerk Boen Group
- EPI Group
- Horner Sports Flooring
- Signature Sports
- Robbins Sports Surfaces
- Aacer Flooring
- Other Market Players
Segmentation of Sports Flooring Industry Research
- Sports Flooring Market by Material Type :
- Recycled Rubber
- Fluid applied
- Sports Flooring Market by Application Area :
- Running Tracks
- Poured-in-Place (PIP) Spaces
- Field Sports
- Tennis Courts
- Basketball Courts
- Volleyball Courts
- Others (multipurpose areas, all other applications excluding field sports)
- Sports Flooring Market by Sales Channel :
- Direct Sales
- Independent Sports Outlet
- Mass Merchandiser
- Value Added Resellers
- Company / Brand Websites
- E-Commerce Websites
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global sports flooring market, presenting historical market data for 2017-2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on sports flooring based on the material (wood, rubber, recycled rubber, polymer (polyurethane, polyethylene, PVC, EPDM, others), others), application area (indoor, outdoor (running tracks, poured in place (PIP) spaces, field sports (tennis court, basketball court, volleyball courts, others), others (multipurpose areas)), sales channel (offline (direct sales, independent sports outlet, mass merchandiser, value-added resellers), online (direct to consumer, a third party online)) across key regions namely (North America, Latin America, Europe, East Asia, South Asia, and Oceania, and MEA).
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