This market analysis segments the global sports turf market by geography and includes regions like the Americas, EMEA, and APAC. The report also analyzes the key drivers, trends, and challenges that influence market growth. Leading vendors in this market are FieldTurf, ForestGrass, Greenfields, HG Sports Turf, and Sporturf.
Technavio’s market research analysts estimate the global sports turf market to grow at a CAGR of more than 11% between 2015 and 2019. Innovations pertaining to product quality and design are responsible for this market’s healthy growth during the forecast period. EMEA dominates the global market for sports turf, accounting for 46% of the total market share. High market share of this region can be attributed to its sound sports infrastructure and high popularity of sporting events like football, tennis, hockey, and golf in this region.
The new market research report from Technavio provides a breakdown and analysis of the sports turf segments by technology.
“One of the interesting trends that this market is witnessing is the growth in the sale of artificial turf. Artificial grass involves low maintenance costs and does not require irrigation, mowing, trimming, watering, and pesticides. It is free from pesticides or fertilizers and requires minimal use of equipment like gas powered lawnmowers for their maintenance. Moreover, even though the initial cost of installing artificial grass is high, consumers can recoup their investment through low water bills and maintenance costs,” says Soumya Mutsuddi, Lead Analyst, Media & Entertainment, Technavio Research.
One of the major factors boosting growth prospects of this market is the favourable government policies. Frequent sports events across the world have pushed the governments towards making more investments in the market. Apart from providing financial support, the governments also provide various other incentives to the investors in this industry. The governments of various countries also have tie-ups with leading technical institutes to train the workforce in this industry.
The key vendors in the global sports turf market include FieldTurf, ForestGrass, Greenfields, HG Sports Turf and Sporturf. This market is characterized by the presence of a few large vendors like FieldTurf and ForestGrass, who continually compete with each other on the basis of product differentiation, portfolio, and pricing to gain maximum traction in the market. Factors like pricing strategies and innovative services among the leading vendors play a significant role in impelling market growth during the forecast period.
A more detailed analysis is available in the Technavio report, Global Sports Turf Market 2015-2019.
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