Market Insights Consumer Toys & Hobby Sports Equipment

Racket Sports Equipment - Norway

Norway

in Norway, a country known for its love of outdoor activities, particularly in the field of sports, contributes to the revenue in the Racket Sports Equipment market.
In 2024, the market in Norway is projected to generate a revenue of US$5m.
Looking ahead, it is anticipated that the market will experience an annual growth rate of 1.62%, as calculated by the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
When comparing the global landscape, it is worth noting that in China leads the way in terms of revenue generation.
In 2024, in China is forecasted to amass a staggering revenue of US$4,374m.
This showcases the immense popularity and demand for racket sports equipment in the Chinese market.
To provide a more insightful perspective, it is interesting to examine the per capita revenue figures.
In Norway, each individual is estimated to contribute US$0.95 in revenue towards the racket sports equipment market in 2024.
This metric helps to gauge the level of engagement and interest in racket sports within the country.
Overall, Norway's contribution to the global racket sports equipment market is significant, reflecting the country's active participation and enthusiasm for these sports.
It will be intriguing to observe how this market segment evolves in the coming years, both in Norway and on a global scale.
Norway, known for its love of outdoor sports, is witnessing a surge in the popularity of racket sports, with an increasing demand for high-quality equipment.

Key regions: United Kingdom, India, United States, Italy, Asia

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.