PUBLISHER: The Business Research Company | PRODUCT CODE: 1409822
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409822
“Sports Buildings Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sports buildings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sports buildings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sports buildings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Sports buildings are dedicated facilities designed to accommodate a diverse range of sports and physical activities. These establishments are crafted to provide athletes with optimal environments and equipment to train, compete, and achieve peak performance. Additionally, these buildings serve as safe spaces for local communities to engage in recreational and competitive sports, promoting an active and healthy lifestyle.
Primary types of sports buildings include gymnasiums, spaces for yoga, aerobic dance, handball, racquet sports, skating arenas, swimming pools, and various other sporting facilities. Gymnasiums specifically cater to fitness and training, offering a variety of exercise equipment and classes for physical well-being. The users of sports buildings are segmented into different age groups such as 35 and younger, 35-54, and 55 and older, further categorized by gender, including men and women.
The sports buildings market research report is one of a series of new reports from The Business Research Company that provides sports buildings market statistics, including sports buildings industry global market size, regional shares, competitors with a sports buildings market share, detailed sports buildings market segments, market trends and opportunities, and any further data you may need to thrive in the sports buildings industry. This sports buildings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sports buildings market size has grown strongly in recent years. It will grow from $164.31 billion in 2023 to $173.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth observed during the historical period can be attributed to several factors, including the prevalence of sporting events and leagues, urbanization leading to increased recreational activities, government investments in sports infrastructure, active community engagement in sports-related activities, and corporate sponsorship and funding supporting sports initiatives.
The sports buildings market size is expected to see strong growth in the next few years. It will grow to $216.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period is expected to be driven by various factors, notably the impact of global sporting events, an increased emphasis on health and wellness initiatives, the development of smart and sustainable infrastructure, investments from both public and private sectors, and the continued popularity of professional sports. Key trends projected in the forecast period encompass the adoption of modular and prefabricated construction methods for sports facilities, the integration of technology into training facilities to enhance athletic performance, the use of augmented and virtual reality experiences within sports environments, the emphasis on community engagement and the creation of social spaces, as well as the influence and impact of global sporting events on the sports infrastructure landscape.
The growth of the sports buildings market is anticipated to be propelled by the increasing global interest in sports. Factors such as rising disposable incomes, heightened health consciousness, and the growing popularity of organized sports events have contributed to a surge in people's interest in sports activities. This heightened interest is reflected in the demand for sports facilities, including stadiums, arenas, and gymnasiums. For instance, data from the National Collegiate Athletic Association (NCAA) in March 2023 indicates a 5% increase in the number of student-athletes competing in NCAA women's championship sports, rising from 10,726 in 2020-2021 to 226,212 in 2021-22. The growing enthusiasm for sports globally is a key driver fueling the growth of the sports buildings market.
Another significant factor driving the growth of the sports buildings market is the increasing number of sports travelers. The rise in sports travelers has led to a heightened demand for venues capable of hosting various sporting disciplines, accommodating large crowds, and providing modern amenities. The economic impact, enhanced fan experience, globalization of sports, media and sponsorship opportunities, and legacy planning contribute to the market's expansion. Notably, in May 2022, Tourism Economics reported a substantial increase in the number of travelers attending sports events in the U.S., rising from 96 million in 2020 to 175 million in 2021. The growing influx of sports travelers plays a pivotal role in driving the growth of the sports buildings market.
Technological innovation has become a prominent trend in the sports building market, with major companies focusing on incorporating advanced technologies, including artificial intelligence (AI), to enhance safety and solidify their market position. A notable example is the partnership between Acrisure Stadium, a U.S.-based stadium, and Evolv Technology, a U.S.-based AI weapons detection security screening provider. The implementation of Evolv Express solutions, an AI-based solution capable of distinguishing between commonplace items and potential threats, showcases the industry's commitment to leveraging technology for improved security in sports buildings.
Major players in the sports buildings market are adopting a strategic approach by introducing multi-sport facilities to gain a competitive advantage. These facilities are known for their versatility, providing adaptable space and infrastructure to meet the diverse requirements of various sports and events. One notable example is the initiative by New Balance Athletics Inc., a U.S.-based footwear company, which launched The TRACK in April 2022. This state-of-the-art multi-sport facility serves as a hub for training and competition for Team New Balance, professional athletes, and the local community. The TRACK features a dual terrain indoor track that can be converted to a field, flexible courts for basketball, soccer, and volleyball, a Sports Research Lab, the Roadrunner music venue, and a Beer Hall. The facility focuses on blending sports, style, and culture, emphasizing sustainability by obtaining LEED Silver certification and incorporating a solar array on the roof. The inclusion of advanced technology in the New Balance Sports Research Lab underscores the brand's dedication to sports innovation and excellence, while the Roadrunner concert venue adds an entertainment dimension to the facility.
In July 2021, Building Design Partnership (BDP), a UK-based collective of architects, engineers, designers, and urbanists, acquired Pattern for an undisclosed amount. This acquisition positioned BDP as a significant player in the global sports industry, enabling the company to contribute to the creation of memorable and inspiring sports facilities. Pattern, a London-based stadium design company, became part of BDP's portfolio, reinforcing the collective's capabilities in delivering innovative and impactful sports buildings on a global scale.
Major companies operating in the sports buildings market report are AECOM Technology Corporation, M. A. Mortenson Company, Clark Construction Group, Turner Construction, Gilbane Building Company, Whiting-Turner Contracting Co., Brasfield & Gorrie LLC, Barton Malow Holdings LLC, STO Building Group, Shawmut Design and Construction, PCL Construction Enterprises Inc., McCownGordon Construction LLC, JE Dunn Construction Group, Nabholz Construction Crop., Hellas Construction Inc., Populous Holdings Inc., Hellmuth Obata + Kassabaum Inc., NBBJ, Gensler, ROSSETTI Architects, Eckersley O'Callaghan Limited, HKS Inc., SmithGroup, DLR Group, CannonDesign Inc., EwingCole Inc., Morphosis Architects, TVS Design Inc., Mancini Duffy, HNTB Corporation .
North America was the largest region in the sports buildings market in 2023. The regions covered in the sports buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the sports buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sports buildings market includes revenues earned by entities by arenas, rinks, pools, outdoor field and stadiums. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.