Rising Investments in Athletic & Fitness Facilities Offers Robust Undercurrent to Sports Flooring Market, Asia Pacific Seeing Surge in High-end Raw Materials: TMR

Rising Investments in Athletic & Fitness Facilities Offers Robust Undercurrent to Sports Flooring Market, Asia Pacific Seeing Surge in High-end Raw Materials: TMR

PR Newswire

ALBANY, N.Y., Sept. 1, 2020

ALBANY, N.Y., Sept. 1, 2020 /PRNewswire/ -- A number of indoor and outdoor sports and fitness facilities need flooring that are durable, easy to install, and shock absorbent. Demand for sports flooring with better materials is constantly growing in tennis, basketball, squash, gymnasium, group fitness, and cardio fitness activities.

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Worldwide, gyms, yoga centers, Zumba, and indoor sports centers have expanded their spending on new flooring and renovations, thus increasing the revenue potential in the sports flooring market.

The appetite is high in Asia Pacific, with the regional market expected to clock CAGR of 5.5% from 2020 to 2030.

The sports flooring market is expected to clock CAGR of ~6% from 2020 to 2030, globally, and reach worth of US$ 19.5 Bn by the end of 2030.

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TMR analysts opine that both governments and private players will play crucial role in the rising investments in the development of sports facilities, and hence in the expansion in the sports flooring market. This will pave way to the demand for new flooring materials, notably which are sustainable and environment-friendly. 

Key Findings of Sports Flooring Market

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Sports Flooring Market: Key Driving Factors and Promising Avenues

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Sports Flooring Market: Regional Landscape

Of all the regions, North America has been a prominent share in the global sports flooring market. The regional market has seen vast spending on improving sports infrastructure in both indoor and outdoor facilities. In particular, the governments in these regions are fervently spending on sports and recreational facilities. In particular, the U.S. is expected to witness sizable revenues.

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Sports Flooring Market: Competitive Landscape

Most players are leaning on spending on expanding their production facilities in developing and developed countries. The competitive landscape is highly fragmented. To consolidate their shares, the top players are getting into acquisitions and strategic partnerships.

Well-entrenched players in the sports flooring market include Bauwerk Boen Group, LG HAUSYS, Interface, Inc., Tarkett Group, and Shaw Industries Group, Inc.

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The Sports Flooring Market can be segmented as follows:

Sports Flooring Market, by Product Type

Sports Flooring Market, by Application

Sports Flooring Market, by End Use

Sports Flooring Market, by Sports

Sports Flooring Market, by Region

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Flooring Market - The flooring market is equipped with wide range of product portfolio, which is making it, the most important for building material markets. The global flooring market is projected to grow at a CAGR of nearly 6.5% between 2019 and 2027. The substantial growth of the construction industry and the increasing trend of home renovation activities are likely to boost the market in the next few years.

Wood Flooring Market - The global wood flooring market was valued at ~ US$ 73.4 Bn in 2018, and is anticipated to expand at a CAGR of ~ 6% during the forecast period. The global wood flooring market is driven by the rise in the demand for home in residential applications. Europe accounts for a prominent share of the global wood flooring market, led by an increase in the demand for residential housing in the region, which is supported by government schemes.

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