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The racket sports equipment market size will grow by $733.2 million between 2024 and 2028. Increasing the number of racket sports courts worldwide will stimulate the market, Technavio

The racket sports equipment market size will grow by 3.2 million between 2024 and 2028.  Increasing the number of racket sports courts worldwide will stimulate the market, Technavio
The racket sports equipment market size will grow by 3.2 million between 2024 and 2028.  Increasing the number of racket sports courts worldwide will stimulate the market, Technavio

 


NEW YORK, June 13, 2024 /PRNewswire/ — The global size of the racket sports equipment market is expected to grow $733.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.62% during the forecast period. The increase in the number of racquet sports courts worldwide is driving market growth, with a trend towards increasing use of nanomaterials in racquet sports equipment. However, the increasing popularity of esports poses a challenge. Key market players include ANTA Sports Products Ltd., Ashaway Line and Twine Mfg Co, ASICS Corp., Babolat, Dunlop International Europe Ltd., Gamma Sports, Gearbox Inc, Harrow Sports, Head, Karakal Worldwide Ltd., KC Kinetic Solutions LLC, Clipper USALi Ning Co. Ltd., Pacific Holding GmbH, PowerAngle LLC, Solinco Sports, Tecnifibre, Victor Rackets Ind. Corp., Volkl Tennis and Yonex Co. Ltd.

Technavio has announced its latest market research report entitled Global Racket Sports Equipment Market 2024-2028.Technavio has announced its latest market research report entitled Global Racket Sports Equipment Market 2024-2028.

Technavio has announced its latest market research report entitled Global Racket Sports Equipment Market 2024-2028.

Get detailed analysis of regions, market segments, customer landscape and companies- View the snapshot of this report

Racket sports equipment market size

Report Coverage

Details

Basic year

2023

Historical period

2018 – 2022

Forecast period

2024-2028

Growth momentum and CAGR

Accelerate with a CAGR of 3.62%

Market growth 2024-2028

$733.2 million

Market structure

Fragmented

Year-on-year growth 2022-2023 (%)

2.6

Regional analysis

North America, APAC, Europe, South America and the Middle East & Africa

Carrying out a market contribution

APAC at 33%

Most important countries

USA, China, Japan, India and Great Britain

Key companies profiled

ANTA Sports Products Ltd., Ashaway Line and Twine Mfg Co, ASICS Corp., Babolat, Dunlop International Europe Ltd., Gamma Sports, Gearbox Inc, Harrow Sports, Head, Karakal Worldwide Ltd., KC Kinetic Solutions LLC, Klipper USA, Li Ning Co. Ltd., Pacific Holding GmbH, PowerAngle LLC, Solinco Sports, Tecnifibre, Victor Rackets Ind. Corp., Volkl Tennis and Yonex Co. Ltd.

Market manager

The racket sports equipment market is witnessing significant growth due to increasing preference for lightweight and high-quality equipment. Carbon fiber replaces traditional materials in racket manufacturing and provides greater flexibility and strength. Nanotechnology is also being used to improve durability and performance, with companies such as YONEX and HEAD Sport using carbon nanotubes and graphene in their products. This technology offers benefits such as reduced weight, increased stiffness and improved resistance to friction and wear. The use of these advanced materials has led to the production of premium rackets for professional players.

The racket sports equipment market is currently experiencing significant growth, with trends leaning towards lightweight and durable materials. Tennis, badminton and squash are popular sports that drive this demand. Segments include rackets, balls, shoes and protective equipment. Tech-savvy players prefer smart rackets with sensors for better performance.

Sponsorship deals and celebrity endorsements also influence market trends. Spending on sporting goods is expected to continue to rise, especially in developing countries. The market is competitive with major players offering innovative solutions to meet consumer needs. Overall, the racquet sports equipment industry is booming and shows no signs of slowing down.

Research report provides comprehensive data on the impact of trends. For more details- Download a sample report

Market challenges

  • The global racket sports equipment market may experience a decline during the forecast period due to the increasing popularity and growth of the e-sports industry. Factors contributing to this trend include the high penetration of mobile gaming and its lucrative business model, which generates revenue through in-app purchases.

  • Additionally, professional gamers receive visas similar to those of athletes, making esports an attractive alternative to traditional sports. Major esports suppliers have intensified their development and marketing efforts, potentially diverting consumer attention and resources from racquet sports equipment.

  • The racket sports equipment market is facing several challenges. Tennis, badminton, squash and racquetball each have unique requirements. Shoes, clothes and rackets are essential for players. Quality and sustainability are important points of attention. Cost is an important factor, especially for clubs and institutions. Suppliers must comply with various specifications and regulations. Logistics and inventory management are complex issues.

  • Flexibility and customization are essential to meet diverse customer needs. Effective marketing and branding are crucial to standing out in a competitive market. Innovation and technology play a crucial role in improving performance and player experience. Overall, the racquet sports equipment industry needs a strategic approach to address these challenges and thrive in the market.

For more insights on drivers and challenges – Request a sample report!

Segment overview

  1. Distribution channel

Product

  • 2.1 Tennis equipment

  • 2.2 Badminton equipment

  • 2.3 Squash equipment

Geography

1.1 Offline The global racket sports equipment market includes mono-brand stores, department stores, hypermarkets, supermarkets and specialty stores. Monobrand stores, owned by product manufacturers, offer a wide range of branded products and attract a large customer base. North American suppliers, such as Nike and Adidas, are investing in new monobrand stores to boost D2C sales. Retail chains such as Tesco, Walmart and Target have special segments for sporting goods.

Specialty stores offer an exclusive product mix and are experiencing steady growth. Store formats are essential for market expansion and provide product information and customer engagement. Despite online competition, stores remain critical because of their role in product education and customer service, especially in rural areas with low internet penetration.

To learn more about market segmentation with geographic analysis including forecast (2024-2028) and historical data (2017-2021) – Download a sample report

Research analysis

The racket sports equipment market includes a wide range of products for different sports such as squash, tennis, racquetball, badminton, table tennis and pickleball. These sports require specific equipment, including rackets, balls, nets, shoes and racket bags. The preference among Gen Z and millennial consumers for lightweight equipment and e-commerce platforms has led to a surge in demand for lightweight fabric clothing, protective gear and caddies.

Global sports players participate in numerous international tournaments and demonstrate their skills with hollow rubber balls in sports such as squash and table tennis, while tennis and badminton players use tennis balls. The market also includes sports equipment for real racquetball and paddle sports. Overall, the racquet sports equipment market is a dynamic and evolving industry that continues to innovate and meet the needs of athletes and enthusiasts alike.

Market research overview

The racket sports equipment market includes a wide range of products used in various racket sports such as tennis, squash, badminton and racquetball. This equipment includes rackets, balls, shoes, protective equipment and other accessories. The market is driven by several factors, including increasing participation in racquet sports, technological advancements in equipment design, and growing health consciousness among consumers.

Segments of the market include types of sports and geographic regions. Market growth strategies include product innovation, pricing strategies and distribution channels. The market is expected to show steady growth in the coming years due to the rising popularity of racquet sports and the continued development of advanced equipment.

Table of contents:

1. Summary
2 Market landscape
3 Market size
4 Historical market size
5 Five Forces Analysis
6 Market segmentation

  • Distribution channel

  • Product

  • Geography

7 Customer landscape
8 Geographic landscape
9 drivers, challenges and trends
10 Business landscape
11 Business analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and consulting company. Their research and analysis focuses on trends in emerging markets and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With more than 500 specialist analysts, Technavio's report library consists of more than 17,000 reports, covering 800 technologies, across 50 countries. Their customer base includes businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's extensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position within changing market scenarios.

Contacts

Technavio research
Jesse Maida
Media and marketing manager
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Global Racket Sports Equipment Market 2024-2028Global Racket Sports Equipment Market 2024-2028

Global Racket Sports Equipment Market 2024-2028

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