The latest industry research report on Running Gear by MRC provides a thorough analysis of the global Running Gear market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Running Gearindustry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.
MRC recognizes the following companies as the key players in the global running gear market: adidas Group, ASICS, New Balance, Nike, and SKECHERS US.
Other Prominent Vendors in the market are: Amer Sports, Berkshire Hathaway, British Knights, Columbia Sportswear Company, Fitbit, Garmin, Kering (Puma), NEWTON RUNNING, sequential brands group, The Rockport Group, Under Armour, VF Corporation, and Wolverine World Wide.
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Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Adoption of social and digital media platform for effective marketing strategies. Digital and social media marketing are important marketing strategies for vendors to increase product and brand visibility. To compete in this intensely competitive market, it has become essential for manufacturers to develop, market, and promote their sports gear products through interactions with consumers on social media platforms. Consumers are engaged by market players using their innovative marketing campaigns on social media and digital platforms such as Instagram, Facebook, Pinterest, YouTube, and Twitter.”
According to the report, one of the major drivers for this market is Product innovation leading to category premiumization. Product innovation plays a vital role in the running gear market. This is because it helps the company to differentiate its products from other players and improve the performance of the participants. Advanced technical fabrications, innovative product design, and product development position running gear products such as running footwear as premium-priced products. At present, consumers demand innovative and high-quality products that are comfortable and could deliver high performance. Sports footwear is required for different sports such as basketball, football, rugby, trail running, golf, and other workouts and activities. Manufacturers introduce modern technology in running footwear category as per the requirements of a specific sport.
Further, the report states that one of the major factors hindering the growth of this market is Increasing raw material cost impacting pricing strategy. The increasing fluctuations in the profit margins of vendors in the running gear market are due to the growing prices of raw materials and strong competition among players, which makes it difficult for manufacturers to come up with a proper pricing strategy. Ethylene vinyl acetate (EVA), which is an elastomeric polymer, is the raw material used in the production of soles of sports footwear including running footwear. Fluctuations in the price of this material have a direct impact on the prices of running footwear and other specific sports footwear.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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The research report focuses on the analysis of its major geographies, and different segments. This all-inclusive study discusses the current market development and trends, important factors driving market growth like drivers, restraints, market projections, and market structure for each region and its sub-segments. It also provides glimpses on the recent technological advancements in the market along with detailed profiles of key industry players. The report also includes an analysis of the micro and macro aspects noteworthy for the present active and the new entities apart from the study of the value chain.
Key Topics Covered in the Report:
- Comprehensive overview of parent market with market definition, classification
- Recognition of factors influencing the market scenarios and analysis of market drivers, barriers, and their impact on the market growth
- Current and future market trends, market scope and detailed market segmentation on the basis of application, region, and competitive scenario
- Value Chain Analysis, Strategic insights, and market estimations
- Facts, stats, historical data, market size forecast regarding volume and value
- Analysis of competitive landscape and assessments on a regional scale with company profiles of leading market players, finance metrics, product offerings and key business strategies and growth prospects for the projected period
- Insights on prospective opportunities and challenges, success and risk
The report brings to your attention analysis of the Running Gear market in major geographies including North America, Europe, the Asia-Pacific, and the Rest of the World. This research report provides a complete insight of the market trends and guides in making informed business decisions. It gives a clear understanding of the competitive environment, key market players, their portfolio, and strategies. It also features a technological growth map over a time and helps understand its impact on the market.
Market Scope
The research report takes different facets into consideration to scrutinize the global Running Gear industry. It brings to your attention market overview, market trends and future outlook, market growth and dynamics, market challenges and opportunities, competitive landscape, and potential investment segment.
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