Report ID: Region: Global | Published Date: September, 2022 | Pages: 165Oncology Information Systems Market
Report ID: SQSG25J2011 | Region: Global | Published Date: September, 2022 | Pages: 157
Global Tennis Racquet Market was valued at USD 313.88 million and is expected to reach USD 356.19 million, at a CAGR of 2.13 % during the forecast period (2022-2028).
Tennis racquet are lightweight sports equipment with a netting stretched in an oval open frame with a handle. Increasing fitness consciousness and adoption of tennis as a recreational sports has increased people’s participation in tennis games which is beneficial to the physical health of the populace. In developing economies, government intervention and support in the expansion of sports industry and availability of higher disposable income are fostering tennis racquet market growth. Manufacturer of tennis racquets are bringing new innovative products with newer technologies such as bending zone, aero modular and woofer to increase the comfort to the consumer while using the racquet. Such factors may boost the market growth in the upcoming future.
Rise of tennis as a recreational sport among populaces in emerging economies has heavily shaped the growth trajectories of the tennis racquet market. A growing number of adolescents aspiring to join club teams are picky about the racquet they use. The vast range of demands underpins the vast canvas for tennis racquet players. Heavy weight racquets are almost exclusively used by professional tennis players and experienced athletes because they provide balance and swing precision. They have made the appropriate choice based on the size of their head.
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The global tennis racquet market is segmented on the basis of material, end user, distribution channel, product type, string pattern, head size, and region. On the basis of material, it is segmented into carbon fibres and aluminium. According to the end user, the market is bifurcated into adults and kids. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, speciality stores, online retailers, and others. Based on product type, the market is segmented into power racquets, control racquets and tweener racquets. Based on string pattern, the market is segmented into open string pattern and tight or closed string pattern. Based on head size, the market is segmented into midsize, mid plus, oversize and super oversize. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Analysis by Material
Carbon fibers segment holds the highest market share of global tennis racquet market. Carbon fiber products are popular among the consumer because of the properties such as lightweight and accurate distribution of weight across the racquet. Carbon composites racquet are appropriate for more swing styles as it offers a combination of balance, weight and swing weight. Therefore, preference is shifting more towards lightweight product with required stiffness and strength. Carbon fiber racquet manufacturers have develop different types of product over the years as carbon fiber allows to manage the flex pattern in the racquet by tuning the stiffness at different points in the frame.
Analysis by End User
Adult segment which consists of all players above the age of 18 years dominated the market share and is expected to be the fastest growing segment during the forecast period. The adult segment is flourishing due to the increased number of players in tennis tournaments and professional competitions. Also, rising inclination of adults towards sports club and recreational centers and popularity of e-commerce and high disposable income are fueling the market growth. Cardio tennis has gained popularity among the adult group as it include a high energy workout that consists of warmup and cardio workout to lose calories in a healthy way. This is beneficial for the growth of tennis industry and thereby support the expansion of tennis racquet market.
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North America dominated the global tennis racquet market in 2021. It is expected to grow at a CAGR of 1.9% during the forecast period. This can be attributed to the increasing participation of youth population in tennis tournaments. The US is the major market in this region and the biggest sports nation having diverse infrastructure and facilities for sports. The overall sports participation especially younger population has increased in the US which has increased the overall unit sales of racquets in this region significantly. Increasing awareness regarding fitness among all age ranges associated with playing tennis is also one of the factors contributing to the increasing demand for tennis racquet in the region.
Asia-Pacific region is expected to be the fastest growing region for global tennis racquet market. The rising prevalence of sports in countries like China, India, Japan and Australia is anticipated to promote the tennis racquet market in the upcoming future. Nearly 35-38 % of the world’s total tennis players are found in Asia. Thus, growing number of tennis players in addition to untapped market potential makes Asia-pacific region a lucrative market for tennis racquet in the near future.
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The global tennis racquet market is fragmented with major players accounting for 40% of the global revenue share. Due of increasing brand preferences top companies are deploying various strategies to increase their brand presence in various geographical regions. Major companies include Wilson Sporting Goods, YONEX Co., Ltd., Babolat, Mizuno USA., Dunlop Sports, ASI LLC, ProKennex, SportsDirect.com Retail Ltd., ABG-PRINCE OPCO, LLC, Solinco, Amer Sports, Authentic Brands Group LLC., among other domestic and global players. These players collaborate with professional players for endorsing their product and sponsor tennis competitions to increase their market presence.
Top Players in the Global Tennis Racquet Market
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According to our global tennis racquet market analysis, investments in consumer outreach programs for increasing adoption and collaborations with associations are expected to present long-term benefits for tennis manufacturers.
|Market size value in||USD 313.88 million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Tennis Racquet Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Tennis Racquet Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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