Thursday, 09 May 2024
According to our latest market study on “Tennis Racquet Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by End-User, Distribution Channel, and Geography,” the tennis racquet market size was valued at US$ 392.34 million in 2022, and it is expected to reach US$ 525.90 million by 2030; it is estimated to register a CAGR of 3.8% from 2023 to 2030. The report highlights key factors driving the tennis racquet market and prominent players along with their developments in the market.
A tennis racquet is a piece of equipment used by players to hit the tennis ball during the game. The frame of a tennis racquet is typically made of lightweight materials such as graphite, carbon fiber, or aluminum, which provide strength and durability while keeping the racquet manageable for players during the game.
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The tennis racquet market is a dynamic and competitive industry that caters to the needs of tennis players worldwide. With a global fan base and a growing number of participants, the tennis racquet market continues to evolve with new technologies, materials, and design innovations. There is a diverse range of tennis racquets, from entry-level models for beginners to high-performance racquets for professional players. Racquets come in various sizes, weights, and string patterns, allowing players to find the perfect match for their individual preferences and playing style. The tennis racquet market also sees seasonal fluctuations, with increased demand during the spring and summer months, when tennis is most commonly played. Thus, the rising adoption of tennis as a recreational sport among the young and middle-aged population is driving the tennis racquet market.
The key players operating in the global tennis racquet market include Yonex Co., Ltd.; Sumitomo Rubber Industries Ltd.; Head; Babolat; Wilson Sporting Goods; Gamma Sports; Pacific Holding GmbH; Maus Frères SA; Authentic Brands Group LLC; and Freewill Infrastructures Pvt. Ltd. Players operating in the global tennis racquet market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.
The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including the sports equipment industry. The operations associated with sports product manufacturing and raw material sourcing experienced several disruptions, hampering the tennis racquet market growth after the pandemic. However, according to the “Tennis Industry United,” on December 03, 2020, in the face of the COVID-19 pandemic, people took to the sport in impressive numbers, and the surge in the number of people playing tennis continued.
The global tennis racquet market is segmented based on end-user and distribution channel. Based on end-user, the global tennis racquet market is segmented into adults and kids. Based on distribution channel, the global tennis racquet market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the global tennis racquet market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America tennis racquet market is further segmented into the US, Canada, and Mexico. The Europe tennis racquet market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific tennis racquet market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America tennis racquet market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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