U.S. Sports Flooring Market: Introduction
Transparency Market Research delivers key insights on the U.S. sports flooring market. In terms of revenue, the U.S. sports flooring market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the U.S. sports flooring market.
The U.S. sports flooring market is broadly affected by factors including rise in environmental concerns. According to the World Health Organization, air pollution is the one of the key environmental threats to human health. Nine out of 10 people in the world breathe polluted air, causing more than 7 million premature deaths every year. The pollution caused during manufacture, installation, and disposal of sporting flooring is adversely affecting the environment as well as human health. This is expected to hinder the U.S. sports flooring market during the forecast period.
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U.S. Sports Flooring Market: Dynamics
The increase in the demand for sports flooring in the U.S. for use in various applications such as indoor sports, and outdoor sports is anticipated to drive the U.S. sports flooring market during the forecast period. There has been a significant rise in indoor sports activities in the U.S. over the past few years. These activities include basketball, martial arts, boxing, table tennis, badminton, volleyball, and gymnastics.
The demand for sports flooring has been rising in the indoor application segment of the U.S. sports flooring market due to extreme weather conditions. Government and private sports clubs in the U.S. are investing significantly in indoor sports complexes. The growth in public awareness about the link between physical activity and health is also projected to drive indoor sports activities. There has been a significant rise in participation in indoor sports activities in the U.S. over the past few years. This can be ascribed to the increase in household income and growth in expenditure on recreational activities. In turn, this is likely to drive the U.S sports flooring market during the forecast period.
A major portion of the population in the U.S. is spending significantly on gym, yoga, Zumba, and dance activities. According to the International Health, Racquet & Sportsclub Association, more than US$ 30 Bn is spent annually on the health and fitness industry in the U.S. The industry has been expanding at least 3% to 4% annually since the past 10 years. This trend is likely to continue in the near future. This is expected to boost the sports flooring market in the U.S.
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The increase in indoor sports activities is expected to boost the development of indoor sports infrastructure. This is anticipated to drive the demand for sports flooring in the U.S. during the forecast period.
Sports floorings are also extensively used in outdoor sports such as baseball, football, soccer, lacrosse, and tennis. Flooring used in these sports activities must be durable enough to withstand adverse weather conditions. It should also continue to provide traction and shock absorbency features.
U.S. Sports Flooring Market: Country Overview
In 2020, two factors affected the U.S. sports industry significantly: the COVID-19 pandemic and the social justice movement. Increase in awareness about health and rise in governmental policies to promote physical activities are anticipated to drive the overall physical activity market in the country. The U.S. sports flooring market was valued at US$ 3079.9 Mn in 2020. Its total volume stood at 128.84 million square meters. The U.S. sports flooring market is projected to be valued at US$ 5792.17 Mn. with total volume of 235.17 million square meters by 2031.
U.S. Sports Flooring Market: Key Players
The degree of competition was high in the U.S. sports flooring market, as large numbers of players operated in the market in 2020. Multinational and national players operate in the market. These are well-established companies with presence in the U.S. Scale of operations, brand value, and readiness to adapt to changing market dynamics determine the profitability and market share of players.
Key players operating in the U.S. sports flooring market are Tarkett, LG Hausys Ltd., Bauwerk Boen Group, Mats Inc., SnapSports Athletic Surfaces, Conica AG, Aacer Flooring, LLC, Kiefer USA, Flexcourt Athletics, KLIKFLEX Flooring, Rephouse Ltd, and Flexcourt Athletics.
Companies in the Sports Flooring market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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