Tennis Racquet Market
Report ID: SQSG25J2011
Tennis Racquet Market Size, Share, Growth Analysis, By Material(Carbon Fibres, Aluminium), By End User(Adults, Kids), By Distribution Channel(Supermarkets, Hypermarkets, Speciality Stores, Online Retailers), By Product Type(Power Racquets, Control Racquets, Tweener Racquets), By String Pattern(Open String Pattern, Tight or Closed String Pattern), By Head Size(Midsize, Mid Plus, Oversize, Super Oversize), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25J2011 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
171
|Figures:
79
Tennis Racquet Market Insights
Global Tennis Racquet Market size was valued at USD 485.53 million in 2019 and is poised to grow from USD 528.26 million in 2023 to USD 1128.51 million by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).
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.
US Tennis Racquet Market is poised to grow at a sustainable CAGR for the next forecast year.
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Tennis Racquet Market Segmental Analysis
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, Tennis Racquet Market is segmented into carbon fibres and aluminium. According to the end user, the Tennis Racquet Market is bifurcated into adults and kids. On the basis of distribution channel, the Tennis Racquet Market is segmented into supermarkets and hypermarkets, speciality stores, online retailers, and others. Based on product type, the Tennis Racquet Market is segmented into power racquets, control racquets and tweener racquets. Based on string pattern, the Tennis Racquet Market is segmented into open string pattern and tight or closed string pattern. Based on head size, the Tennis Racquet Market is segmented into midsize, mid plus, oversize and super oversize. The regional insights of the Tennis Racquet Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Tennis Racquet Market 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.
Tennis Racquet Market 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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Tennis Racquet Market Regional Insights
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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Tennis Racquet Market Dynamics
Tennis Racquet Market Driver
- With the increasing awareness regarding the benefits of sports across the globe the global tennis racquet market is expected to grow during the forecast period.
- In the middle class family, improving standard of living and availability of higher disposable income are estimated to be factors fueling the growth of market
- In developed countries including the U.S., Germany, France, tennis is gaining popularity recently as a sport for better fitness which is expected to surge the demand for tennis racquet.
- Government and sports association are supporting the growth of sports participation with special concentration on tennis. This is projected to increase demand for tennis racquets.
Tennis Racquet Market Restraint
- High cost associated with premium grade of tennis racquets will pose as a major obstacles for the global tennis racquet market growth.
- Availability of counterfeit products in the local market can further restrain the market growth. Fluctuations in the prices of raw material used to manufacture tennis racquet can also hamper market growth.
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Tennis Racquet Market Competitive Landscape
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
- Wilson Sporting Goods Co.
- Babolat VS S.A.
- HEAD Sport GmbH
- Yonex Co., Ltd.
- Dunlop Sports Group Americas Inc.
- Prince Global Sports, LLC
- Tecnifibre
- ASICS Corporation
- Volkl Sports Holdings Corp.
- Pacific Racket Sports, Inc.
- Gamma Sports
- ProKennex Sports, Inc.
- Solinco
- Harrow Sports, Inc.
- One Strings SRL
- Slazenger International Limited
- Donnay International S.A.
- Black Knight International
- Karakal International Ltd.
- Dunlop International (Asia) Ltd.
Tennis Racquet Market Recent Developments
- In August 2022, New Jersey-based Alldesign Labs developed a new racquet design different from the traditional ones with the help of AI such as DALLE and midjounney. The concept named Hìtëkw was aimed to develop stronger and lighter racquets while boosting its performance.
- In August 2022, Babolat launched a new racquet named Aero, which is the world’s first aerodynamic racquet. The racquet is the best in spin strategies while incorporating leading-edge technology to meet the needs of all spin players.
Tennis Racquet Key Market Trends
- Tennis racquet where made of wood previously but nowadays carbon composites are used to make racquet because they distribute weight more precisely in the racquet. Thus, the racquets are lightweight and more balanced and are useful for different swing styles.
- In developing countries of Germany, the UK, and France the trend of cardio tennis, which is calorie loss workout with tennis, is gaining traction. This factor can drive the tennis racquet market in the coming years.
Tennis Racquet Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 485.53 million |
| Market size value in 2031 | USD 1128.51 million |
| Growth Rate | 8.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Tennis Racquet Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Tennis Racquet Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tennis Racquet Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Tennis Racquet Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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