What is the global market size of Tennis Racquet Market?

Global Tennis Racquet Market size was valued at USD 485.53 million in 2021 and is poised to grow from USD 528.26 million in 2022 to USD 1128.51 million by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).

What is the key driver of Global Tennis Racquet Market?

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.

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

Q: Who are the key vendors in the Global Tennis Racquet Market?

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. '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.'.

Report ID: SQSG25J2011 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 171 | Figures: 79

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.

Tennis Racquet Market Report Snapshots

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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).

The tennis racquet market is fragmented with major players accounting for 40% of the 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 players. These players collaborate with professional players for endorsing their product and sponsor tennis competitions to increase their market presence. 'Wilson Sporting Goods Co.', 'Babolat VS S.A.', 'HEAD Sport GmbH', 'Yonex Co., Ltd.', 'Dunlop Sports Group Americas Inc.', 'Prince 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.'

With the increasing awareness regarding the benefits of sports across the globe the tennis racquet market is expected to grow during the forecast period.

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.

North America dominated the 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.

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Tennis Racquet Market Regional Insights

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What is the market size of Tennis Racquet Market?

Who are the key vendors in the Tennis Racquet Market?

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