The athletics equipment market in Thailand demonstrated considerable growth from 2013 to 2023, growing from 111.4 million USD to 240.27 million USD. The year-on-year variations initially depicted strong growth, with the highest at 34.19% in 2015, gradually stabilizing to a more moderate increase of 3.94% by 2023. The compound annual growth rate (CAGR) over the five years leading up to 2023 was 4.5%, indicating a steady and sustainable market expansion.
Forecasted data from 2024 to 2028 suggest a continuous yet slower growth pace, with the market expected to reach 283.16 million USD by 2028. The forecasted 5-year CAGR is 2.59%, contributing to an overall forecasted 5-year growth rate of 13.63%. This indicates a slight deceleration in growth compared to the previous decade but still shows a positive upward trend.
Future trends to watch for in the athletics equipment market in Thailand include:
- The impact of digital innovation and smart technology integration into athletic equipment.
- Increased health and fitness awareness among the population driving demand.
- Potential influence of international sporting events and government initiatives promoting physical activity.
- Shifts towards sustainable and eco-friendly products.
