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.
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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