Tennis Racquet Market: Global Industry Analysis and Forecast (2023-2029)

Tennis Racquet Market size was valued at US$ 525.82 Mn. in 2022 and the total Tennis Racquet revenue is expected to grow at 8.3 % through 2023 to 2029, reaching nearly US$ 918.84 Mn.
Tennis Racquet Market Overview:
A racquet is a part of sports used to strike a ball or shuttlecock in games such as tennis, racquetball, badminton, and squash. Tennis racquets are available in a variety of sizes, lengths, and weights. Tennis racquets are classified as lightweight or heavyweight based on their weight. Consumers choose heavyweight tennis racquets because they are more comfortable for the arm and more stable than lightweight racquets. Heavy tennis racquets are widely used in the sports section. Tennis racquets were originally constructed of wood and had a 65-square-inch head size. Since technology is advancing at a quick pace, the influence of this innovation is in favor of modifications and improvements to tennis racquets.To know about the Research Methodology:- Request Free Sample Report

In this report, the Tennis Racquet market's growth reasons, as well as the market's many segments (Raw Material, String Pattern, Distribution Channel, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Tennis Racquet market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Tennis Racquet market situation.
Tennis Racquet Market Dynamics:
Increasing youth engagement in sports and recreational activities, as well as the rising personal disposable income, are the primary drivers driving the market growth.

The growing awareness regarding the importance of sports in maintaining fitness and health has increased the participation rate in a tennis game. Furthermore, tennis has gained significant popularity for improving fitness, particularly among the elderly population, in matured economies such as Germany, France, and the US. Furthermore, it has benefits such as enhancing aerobic activities, decreasing resting heart rate and blood pressure, improving metabolic function, and increasing bone density.

A heavier tennis racket has less torque and vibration, allowing players to perform much better than a lighter tennis racket. If users have wrist, elbow, or hand difficulties, a hefty tennis racket may not be the best choice for them. Other indirect market growth factors include an increase in the acceptance of healthy lifestyles, particularly in developing economies, and an increase in government and sports association expenditure on the growth of the sports world.

Government and ITF support for tennis and athletics is expected to create lucrative opportunities for the growth of the Tennis Racquet market over the forecast period.

The government provided funding to British Athletics and the Lawn Tennis Association to help conduct the summer tournaments and athletes' preparations for the Tokyo Olympics. The Lawn Tennis Association (LTA) received a loan of $ 14.3 million, allowing it to commit at the start of this year to ensure the grass season ahead. Furthermore, the ITF International Tennis Federation) the development program has encouraged the tennis player and grown tennis all around the world. They are working with Regional and National Associations to identify hidden talent and build new and better facilities for players. They help players at every step of the way, from the playground to the podium.

Opportunities for market key players

Top companies in the tennis racquet market have used a variety of techniques to boost their brand presence in the landscape. Companies have also partnered with professional tennis players to get endorsements for their products. They have also formed partnerships with tennis tournaments in order to increase their market exposure.
Tennis Racquet Market Segment Analysis:
By Raw Material, the Carbon fiber segment accounted for a significant percentage of revenue in 2022. Because of its lightweight nature, this product has grown in popularity among tennis players. Carbon materials allow for more perfect weight control around the racket. This means that racquets are suitable for a wider range of swing styles and gameplay. It offers a better balance of weight and swings. As a result, in recent years, consumer choice has shifted toward lightweight items that can provide the necessary rigidity and strength. Professional athletes choose lighter sports equipment because it allows them to perform better than heavier equipment.

By Distribution Channel, the offline distribution channel dominated the tennis racket market, accounting for a significant market share in terms of global volume. One of the primary aspects attracting buyers is the easy availability of a diverse selection of items at specialized stores. Through professional customer care staff, these establishments provide consumers with the required information and support.

By String Pattern, the Open String Pattern segment is expected to grow at the highest rate during the forecast period. The most used open string pattern racquets are 16x18 and 16x19. These are known as open string patterns because the squares are bigger and the string spacing is wider. Open string patterns have the benefit of being easier to hit with depth, power, and spin.


Regional Insights:
In North America, the tennis racquet market is expected to grow owing to the increasing participation of youngsters in tennis tournaments. The United States has the region's most important market for Tennis racquets. According to the Tennis Industry Association (TIA), the tennis economy grew by 4.5% between 2018 and 2022.

This statistic shows the value of lawn tennis racquet imports and exports from 2018 to 2022. In 2018, the value of lawn tennis racquets imported to the U.S was approximately 46.22 million dollars and in 2022 it was estimated approx. 48.67 million dollars.

In the Asia Pacific, the market is expected to grow owing to rising personal disposable income, fast globalization, westernization, modernization, and an increase in funding to develop the sports sector. In recent years, countries such as China, Australia, Japan, and India have seen tremendous growth in this sport.

The objective of the report is to present a comprehensive analysis of the Tennis Racquet Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Tennis Racquet market dynamics, and structure by analyzing the market segments and projecting the Tennis Racquet market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Tennis Racquet market make the report investor’s guide.
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Tennis Racquet Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 525.82 Mn.


Forecast Period 2023 to 2029 CAGR:
8.3%
Market Size in 2029:
US $ 918.84 Mn.


 Segments Covered:
by Raw Material
Carbon Fibre
Aluminum
Others


by String Pattern
Open String Pattern
Tight or Closed String Pattern


by Distribution Channel
Online
Offline



Tennis Racquet Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Wilson Sporting Goods
2. Amer Sport (Finland),
3. YONEX Co., Ltd.(Japan),
4. Babolat (France),
5. ASI -CSP,llc (Japan) ,
6. Tecnifibre ( ‎Paris),
7. Dunlop Sports Group Americas (the U.S.),
8. ABG-PRINCE OPCO, LLC (the U.S.),
9. GAMMA Sports (the U.S.),
10. PACIFIC Holding GmbH (Germany),
11. ProKennex (Taiwan),
12. ONE SPORTS s.r.l (Italy),
13. PowerAngle, H
14. EAD (the Netherlands),
15. Slazenger (the U.K),
16. Volkltennis (Germany)
17. Head N.V.
18. Solinco
19. ASICS Corporation
20. Authentic Brands Group, LLC

Frequently Asked Questions:

1. Which is the potential market for the Tennis racquets in terms of the region?
Ans. In the APAC region, rising personal disposable income, fast globalization, westernization, modernization, and an increase in funding to develop the sports sector are expected to drive the Tennis Racquet in terms of the region.

2. What are the opportunities for new market entrants?
Ans. Top companies in the tennis racquet market have used a variety of techniques to boost their brand presence in the landscape. Companies have also partnered with professional tennis players to get endorsements for their products.

3. What is expected to drive the growth of the Tennis Racquet market in the forecast period?
Ans. Increasing youth engagement in sports and recreational activities, as well as the rising personal disposable income, are the primary drivers driving the market growth.

4. What is the projected market size & growth rate of the Tennis Racquet Market?
Ans. The Tennis Racquet Market size was valued at US$ 525.82 Mn. in 2022 and the total Tennis Racquet revenue is expected to grow at 8.3 % through 2023 to 2029, reaching nearly US$ 918.84 Mn.

5. What segments are covered in the Tennis Racquet Market report?
Ans. The segments covered are Raw Material, String Pattern, Distribution Channel, and Region.