Sports Buildings Global Market Report 2023
Major players in the sports buildings market are AECOM, Mortenson, Clark Construction Group, Turner Construction, Gilbane Building Company, Whiting-Turner Contracting Co., Brasfield & Gorrie, Barton Malow Holdings, STO Building Group, Shawmut Design and Construction, PCL Construction Enterprises, McCownGordon Construction, JE Dunn Construction, Nabholz Construction and McCarthy Holdings, and Hellas Construction.
New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sports Buildings Global Market Report 2023" - https://www.reportlinker.com/p06464089/?utm_source=GNWThe global sports buildings market is expected to grow from $154.93 billion in 2022 to $165.36 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sports buildings market is expected to reach $201.86 billion in 2027 at a CAGR of 5.1%.
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.
Sports buildings are facilities created especially for supporting a variety of sports and physical activities.Sports facilities are often built to offer athletes the finest environment and tools to train, compete, and perform at their full potential.
Sports buildings also provide locals with a secure location to participate in recreational and competitive sporting events and support an active and healthy lifestyle.
North America was the largest region in the sports buildings market in 2022. The regions covered in sports buildings report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sports buildings are gymnasiums, yoga, aerobic dance, handball sports, racquet sports, skating, swimming, and others.Gymnasiums refer to a certain kind of fitness center or sports building that provides a range of exercise gear and classes for physical fitness and training.
The various age group that uses sports buildings are 35 and younger, 35-54, and 55 and older and are segmented into men and women.
The rising interest of people in sports worldwide is expected to propel the growth of the sports buildings market going forward.The rising disposable incomes, increased health consciousness and the growing popularity of organized sports events, have raised the interest of people in sports.
Sports facilities, such as stadiums, arenas, and gymnasiums, are in more demand due to people’s increased interest in participating in physical activity.For instance, in March 2023, according to National Collegiate Athletic Association, a US-based non-profit organization that regulates student athletics, the number of student-athletes competing in NCAA women’s championship sports increased by 5% from 10,726 student-athletes in 2020-2021 to 226,212 student-athletes in 2021-22.
Therefore, the rising interest of people in sports globally is driving the growth of the sports buildings market.
Technological innovations in the sports building market have emerged as a key trend.Major companies operating in the sports building market are focused on incorporating new technologies, such as artificial intelligence, to improve safety and strengthen their position in the market.
For instance, in March 2023, Acrisure Stadium, a US-based stadium, partnered with Evolv Technology, a US-based AI weapons detection security screening provider, to install Evolv Express solutions. Evolv Express solution is an AI solution that distinguishes between commonplace items and threats at its gates to detect weapons from attendees without checking their belongings.
In July 2021, Building Design Partnership (BDP), a UK-based continuous collective of architects, engineers, designers and urbanists, acquired Pattern for an undisclosed amount.This acquisition made BSP a significant player in the global sports industry and enabled it to build some of the most memorable and inspiring locations to visit.
Pattern is London-based stadium design company.
The countries covered in the sports buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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
The sports buildings market research report is one of a series of new reports 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.
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