Playground Sets and Equipment Market Share, Size, Trends, Industry Analysis Report, By Component Type; By Application Type; By Sales Channel Type; By Region; Segment Forecast, 2024 - 2032
- Published Date:Mar-2024
- Pages: 119
- Format: PDF
- Report ID: PM4690
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Global playground sets and equipment market size was valued at USD 6.15 billion in 2023. The market is anticipated to grow from USD 6.55 billion in 2024 to USD 11.12 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period.
Market Overview
Growing awareness among parents about the importance of outdoor games and physical activities in the development of the child and their overall growth drives the demand for playground equipment and sets. In addition, the rising focus of companies on research & development activities that led to the creation of playgroup equipment with various themes, including educational, nature, adventure, and sports, is further anticipated to propel the market’s growth.
- For instance, in October 2023, the construction of the world’s first computer-themed playground started in Ruoholahti and is estimated to be completed in September 2024. The renovation project mainly aims to develop a playground that offers an attractive learning environment, and the playground will equipped with seven computer-themed play equipment.
To Understand More About this Research:Request a Free Sample Report
Furthermore, the rising integration of smart technology into playground equipment and sets is projected to revolutionize the industry. As playground equipment is now equipped with advanced technologies, including solar-powered equipment, Wi-Fi connectivity, and activity tracking, that results in a more inclusive and engaging play experience for children.
Growth Factors
Rapid urbanization to accelerate the playground sets and equipment market trends
The rapid pace of urbanization, particularly in developing nations, and the drastic shift in population from rural to urban and semi-urban areas accelerate the growth of the industry. With more people living in urban and semi-urban regions, the demand for playgrounds providing recreational space for children to spend time increases, and so does the need for playground sets and equipment. According to the World Bank, more than 56% of the world’s population, accounting for 4.4 billion inhabitants, are living in cities, and it is estimated that the number of people moving from rural to urban regions could double its current size by 2050.
Growing advancements in material and technology to drive playground sets and equipment market trends
The continuous advancements in materials, technology, and product design that led to the manufacturing of more engaging, durable, and safer playground equipment, coupled with the rising investments by key companies towards the incorporation of innovative features, might also bode well for global market growth. For instance, in September 2023, King Swings announced the launch of their new division called ‘King Swings Commercial.’ The venture will provide commercial-grade playgrounds with the same quality and creativity.
Restraining Factors
High initial investment requirement for equipment installation to hinder playground sets and equipment market share
Playground sets and equipment are highly expensive and require significant investments for the installation of outdoor playground equipment, hampering the global market growth. Also, playground equipment needs to adhere to various strict government regulations and guidelines that create a barrier to new entries into the market.
Report Segmentation
The market is primarily segmented based on component type, application type, sales channel type, and region.
|
By Component Type |
By Application Type |
By Sales Channel Type |
By Region |
|
|
|
|
To Understand the Scope of this Report:Speak to Analyst
By Component Type Insights
Swing sets segment accounted for the largest playground sets and equipment market share in 2023
The swing sets segment accounted for the largest playground sets and equipment market share. This dominance is attributed to the widespread availability of swing sets in the majority of playgrounds across the world due to their huge popularity among children of all ages. In addition, rising government investments in public parks and various recreation facilities foster the installation or renovation of swing sets in such spaces, leading to a positive impact on the segment’s growth.
The free spinners segment is expected to grow at the highest growth rate. Segment’s growth is fueled by continuous innovations in spinners' designs and features that keep children engaged and attract them to improve their balance, coordination, and overall fitness.
By Application Type Insights
The commercial playgrounds segment held the majority playground sets and equipment market share in 2023
The commercial playgrounds segment held the majority of playground sets and equipment market share. Segment’s dominance is due to the rising number of infrastructure development projects, especially in emerging economies, leading to significant opportunities for the installation of commercial playgrounds at various spaces, including schools, public parks, and societies. Furthermore, the expansion of the hospitality and tourism sector also boosts the demand for commercial playgrounds in hotels and resorts to provide immersive experiences to people visiting there with their families and children.
By Sales Channel Type Insights
The online channels segment is projected to witness the highest growth.
The online channels segment is projected to grow at the highest growth rate. This growth is attributable to various factors, such as increasing accessibility of fast internet facilities, greater convenience and accessibility, wider product availability, and effective marketing campaigns targeting specific customers. In addition, the rising proliferation of social media marketing and influencer marketing, which includes the promotion of products through social media platforms, also raises awareness about the importance of playground equipment and drives the segment’s growth.
Regional Insights
North America region dominated the global playground sets and equipment market share in 2023
The North American region dominated the global playground sets and equipment market share. Region’s dominance is fueled by increased demand for playground equipment in play schools and commercial playgrounds, as regions have greater emphasis on children's physical and mental health and development. With the increasing prevalence of childhood obesity, parents are becoming aware of the importance of physical activities, thereby looking for playgrounds equipped with several types of equipment and sets that encourage physical activity and cognitive development.
- For instance, according to the Centers for Disease Control and Prevention, the prevalence of childhood obesity in children was around 19.7% and affected approx. 14.7 million adolescents and children in the United States.
The Asia Pacific region is anticipated to emerge as fastest fastest-growing region with a healthy CAGR. This growth is due to growing infrastructure development activities and rising urbanization that propels the demand for playground equipment. Changing people's lifestyles and increasing disposable income that allow them to spend higher on recreational and leisure activities also propels the market for playground sets and equipment. For instance, in March 2022, People4people announced that they had completed a milestone of installing more than 500 playgrounds for children in government schools across six states.
Key Market Players & Competitive Insights
Strategic partnerships and new product development to drive competition
The playground sets and equipment market is highly fragmented, with several players consolidating their positions. Companies are implementing several business development strategies, including partnerships, collaborations, acquisitions, and new product launches, to expand their market presence and customer base. Also, players are competing on factors such as bringing innovative designs, offering competitive pricing, and building brand reputation and trust.
Some of the major players operating in the global market include:
- ABC-Team (US)
- Childforms (US)
- E.Beckmann (Germany)
- ELI (Sweden)
- Henderson (UK)
- Kaiqi (China)
- Kompan Inc. (Australia)
- Mich Playground Equipment (China)
- PlayCore (US)
- Qitele (China)
- SportsPlay (US)
- Tsumura Company (Japan)
Recent Developments in the Industry
- In February 2023, The Town of Whitestown announced and introduced the latest playground equipment at Gateway Park, which will offer children and families the option to have some fun and learn in a safe, accessible, and inclusive environment. The new playground equipment includes a sensory wave climber and a net climber.
- In January 2022, Huntington Beach unveiled its new playground located in Central Park West with very unique and innovative design. It includes various playground equipment and also features a set-apart area that is specially intended for younger children.
Report Coverage
The playground sets and equipment market report emphasizes key regions across the globe to provide a better understanding of the product to the users. Also, the report provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers an in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, component type, application type, sales channel type, and their futuristic growth opportunities.
Playground Sets and Equipment Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 6.55 billion |
|
Revenue Forecast in 2032 |
USD 11.12 billion |
|
CAGR |
6.8% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments Covered |
|
|
Regional scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The global playground sets and equipment market size is expected to reach USD 11.12 billion by 2032
Key players in the market are Mich Playground Equipment, Qitele, Tsumura Company, Kompan
North America contribute notably towards the global Playground Sets and Equipment Market
Playground sets and equipment market exhibiting a CAGR of 6.8% during the forecast period.
The Playground Sets and Equipment Market report covering key segments are component type, application type, sales channel type, and region.
© 2024 Polaris Market Research and Consulting. All rights reserved
