Global Tennis Racquets Market 2019: Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast for the Next 10 years
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Tennis Racquets Market Overview
"The Tennis Racquets Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Racquet, also spelled as a racket, is one of the key components of sports, comprised of a strong handled frame and a hoop through which strings or cords are stretched tightly, forming a network. A racquet is basically made for striking a shuttlecock or ball while playing tennis and other games such as racquetball, badminton, and squash.
Tennis Racquets Market: Growth Driving & Hindering Factors
Increasing awareness regarding health benefits associated with playing sports and engaging in fitness activities is a major factor expected to drive the growth of the global tennis racquets market over the 10-year period. In addition, increasing participation of younger, as well as the middle-aged population, in various domestic tennis competitions is another major factor expected to support revenue growth of the target market.
Government authorities in certain countries such as India and China are taking various initiatives in order to inspire a large number of participation in sports activities by offering various incentives to core players such as government jobs, scholarships, and other perks. This initiative is expected to widen the scope of tennis sport and is expected to result in higher demand for tennis racquets among professional players and propelling the growth of the global tennis racquets market.
However, the high cost of premium tennis racquets and the availability of counterfeit products in the domestic market are some of the major factors that could restrain the revenue growth of the target market.
Tennis Racquets Market: Trend & Opportunity
The growing popularity of cardio tennis, especially among the middle-aged population, coupled with various health benefits associated with cardio tennis is a key trend observed in the global tennis racquets market.
Increasing focus of manufacturers on development and launch of various innovative products in terms of variations in designs and making them more light-weight, and customizing them as per requirements of the end-users is a key factor expected to create revenue growth opportunities for existing companies as well as new entrants in the target market.
By Raw Material:
Among the raw material segments, the carbon fiber segment is projected to account for a significant revenue share in the global tennis racquets market. This can be attributed to its various benefits or features offered such as high durability, light-weight, and high rigidity.
By End User:
Among the end-user segments, the core player segment is expected to register a significant growth rate over the 10-year period, owing to the increasing number of professional tennis competitions across various countries.
By Sales Channel:
Among the sales channel segments, the specialty and sports shops segment is anticipated to register a substantial growth rate, which can be attributed to the easy availability of a variety of sports equipment and related products under a single roof, and the customization services offered by the specialty and sports shops. The online retail segment is projected to register a notable growth rate in the target market over the next few years, owing to the shifting preference of individuals to purchase sports products on E-commerce websites.
The North American tennis racquets market accounted for a major revenue share in the global market in 2018 and is projected to continue to dominate for the next few years. This can be attributed to the increasing number of organizations for tennis tournaments, combined with the growing participation rate of the youth population resulting in high demand for tennis racquets.
The tennis racquets market in the Asia Pacific is expected to grow at a significant compound annual growth rate over the 10-year period. This is attributed to the increasing demand for tennis racquets among individuals and sports organizations, schools & colleges, etc. The Europe market is expected to account for considerable revenue share in the target market, owing to the presence of prominent players in the region.
Global Tennis Racquets Market Segmentation:
Segmentation by Raw Material:
- Carbon Fiber
- Others (Wood, Steel, Fiberglass, Titanium, etc.)
Segmentation by End User:
- Core Player
Segmentation by Sales Channel:
- Specialty and Sports Shops
- Discount Stores
- Online Retail
- Others (pro-shops, warehouse clubs, and brand manufacturers)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Amer Sports Oyj
- YONEX Co., Ltd.
- Dunlop Sports
- Head N.V
- GAMMA Sports
- Prince Global Sports, LLC
- Wilson Sporting Goods
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