DUBAI, United Arab Emirates, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The global tennis equipment market is expected to account for a valuation of US$ 9 Bn in 2022, and rise at a CAGR of 2.9% to reach an estimated net worth of US$ 10.8 Bn by the end of 2029.
According to a market report published by Future Market Insights, the global sales value of tennis equipment is likely to reach US$ 9 Bn in 2022. According to the report, the Tennis Equipment Market is projected to expand at a CAGR of ~2.9% during the forecast period.
| Tennis Equipment Market Size (2022) | US$ 9 Bn |
| Projected Market Revenue (2029) | US$ 10.8 Bn |
| Global Market Growth Rate (2022-2029) | 2.9% CAGR |
| Dominant Product with Market Share | Tennis Racquets - 25.1% |
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Racquets are expected to contribute the highest revenue share in the global tennis equipment market in 2022. In recent years, increasing number of women participation in sports activities such as tennis has been complementing the growth of the global sports industry, thereby potentially raising the demand for sports equipment.
The number of individual buyers of tennis equipment are likely to increase at rapid pace, owing to growing participation of young and cardio tennis players over the past few years. Additionally, manufacturers are on an innovation spree, as lightweight racquets, such as Head Graphene 360 Radical Lite racket, continue to gain significant tractions, enabling players to swing them faster and generate more topspin on the ball.
Independent sports outlet is estimated to be the leading sales channel in the global tennis equipment market in 2022, due to availability of high quality products at affordable price which is affecting larger competitors in the market.
Additionally, various manufactures of tennis equipment have shifted their concentration heavily upon the distribution of equipment through online sales channels. It could be evidently seen that a majority of tennis shoe manufactures, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capture sales of tennis shoes through online channels, such as company’s official e-commerce websites and third-party e-commerce websites.
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Tennis Equipment Industry Report Scope
| Attribute | Details |
| Forecast Period | 2022-2029 |
| Historical Data Available for | 2014-2021 |
| Market Analysis | Units for Sales, US$ Mn for Value |
| Key Regions Covered | • North America • Latin America • Europe • East Asia • South Asia & Pacific • Middle East & Africa (MEA) |
| Key Countries Covered | • United States • Canada • Brazil • Mexico • Germany • U.K. • France • Spain • Italy • China • Japan • South Korea • India • Indonesia • Malaysia • Singapore • Australia • New Zealand • Turkey • South Africa • and GCC Countries |
| Key Market Segments Covered | • Product • Material • Buyer • Sales Channel • Region |
| Key Companies Profiled | • Amer Sports Corporation • Head N.V. • Dunlop Sports Co. Ltd. • Tecnifibre • Oliver Sports & Squash GmbH • Harrow Sports Inc. • Babolat • Yonex Co. Ltd. • Adidas AG • Gamma Sports • Prince Global Sports LLC • ProKennex • One Strings • Solinco • Nike Inc. • Playmate Ball Machines • Volkl Int. GmbH |
South & East Asia Remains Prominent Market for Tennis Equipment
Growing influence of professional tennis among the Asian population is offering a lucrative opportunity for tennis equipment market players in South & East Asia. Additionally, factors such as booming Chinese economy, development of sports infrastructure, and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem.
Profound interest of government as well as private sector in sports activities such as tennis has helped to strengthen the image of sports within the developing countries. Transition of casual to core tennis participation is likely to contribute substantial growth to the tennis equipment market. The increasing fitness trend among millennials in the Asia Pacific region is expected to provide an impressive growth to the tennis equipment market during 2022-2029.
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Rising awareness about protecting our environment and the preference for natural products is expected to promote the growth of biodegradable and eco-friendly tennis products. People are preferring natural gut tennis strings, as a more eco-friendly option. These strings are made from recycled synthetics or alternative materials.
The raw material used in natural gut strings is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Furthermore, people are preferring athletic clothing made from recycled or sustainable materials which is creating a massive opportunity for the growth of the global tennis equipment market during the forecast period.
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