U.S.
Sports Flooring Market: Introduction
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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.
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.
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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.
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.
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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.
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