New York, NY, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Tennis Racquet Market Share, Size, Trends, Industry Analysis Report, By Product Type (Power Racquets, Control Racquets, and Tweener Racquets); By Distribution Channel; By End-Use; By String Pattern; By Region; Segment Forecast, 2023 - 2032” in its research database.
According to the research report, the global tennis racquet market size & share was valued at USD 527.08 million in 2022 and is expected to reach USD 1,182.41 Million By 2032, growing at a CAGR of 8.4% during the forecast period.
What is the market for Tennis Racquets? How Big is Tennis Racquet Market Share?
- Report Overview
A tennis racquet is required for striking a tennis ball during the game. Tennis racquets are available in a range of styles depending on their length, weight, balancing point, stiffness, beam thickness, string pattern and density, and head size. Prince Sports, Yonex, Wilson, Babolat, Dunlop Sport, Head, and Tecnifibre are some of the well-known brand's tennis racket manufacturers. Materials like graphite composite, steel, fiberglass, or aluminum are used to make tennis racquets.
Tennis racquets typically fall into one of four groups, including Power Racquets, Control or Player’s Racquets, Tweener Racquets, and Modern Player’s Racquets. The increasing participation of youth in leisure and sports is one of the prominent factors driving the tennis racquet market size. The rising awareness of the benefits of sports in maintaining health and fitness, which has led to an increase in the level of participation in tennis matches, is boosting the market growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of This Report
- Market size and share assessment for regional and country-level segments
- Business opportunities, drivers, and success factors
- Current trends and the future potential of the market
- Market segment analysis by types, applications, and regions
- The competitive status of key players within the projection timeline
- Value chain analysis with price analysis and market forecast
- Region-specific growth and development in the market
Some of the Top Market Players Are:
- ASICS Corporation
- Authentic Brands Group LLC
- ASI -CSP LLC
- ABG-PRINCE OPCO LLC
- Amer Sports LLC
- Babolat Inc.
- Dunlop Sports Group Americas Corp.
- EAD Inc.
- GAMMA Sports Corporation
- Head N.V.
- ONE SPORTS s.r.l
- PowerAngle
- PACIFIC Holding GmbH
- ProKennex Ltd.
- Slazenger GmbH
- Tecnifibre Inc.
- Volkltennis GmbH
- Solinco Inc.
- Wilson Sporting Goods
- YONEX Co. Ltd
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Market Dynamics
Key Growth Driving Factors
- Increase in demand for tennis racquets from tennis training institutions drives the market growth
A rise in demand for the tennis racquet from tennis training institutions fuels the tennis racquet market sales. Tennis has been gaining huge popularity for boosting fitness, especially among seniors in wealthy countries like France, Germany, and the U.S., which is augmenting the tennis racquet industry's growth. This sports category provides advantages, including lowering the resting heart rate, increasing blood pressure and aerobic activity, raising bone density, and strengthening metabolic function. These benefits support the demand for the market. Growing personal disposable income across the globe is another factor propelling the industry's expansion.
Recent Trends Influencing the Market
Rising number of product launches by the key companies to push the industry expansion
- Increasing the number of product launches by the major players in enhancing the growth of the tennis racquet market. In April 2022, in commemoration of Earth Day, Wilson Sporting Goods Co. announced the launch of its Earth Day Tennis Racket Series. In order to lessen the environmental impact of each racket created, the eco-friendly range uses bio-based and recyclable materials from Arkema's Agiplast technology and Sherwin Williams' aqueous paints.
- Growing introduction of favorable government policies across developing countries, including India and China, is expected to create lucrative opportunities in the tennis racquet market. For instance, in November 2018, the government of India launched Khelo India-National Program to increase domestic sporting activities.
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Segmental Analysis
- Online retail distribution channel segment is anticipated to experience the fastest growth
Based on the distribution channel, the online retail segment is likely to grow at the fastest rate due to a surge in smartphone penetration. Online retailers like Amazon and Walmart are expected to increase the attraction of e-commerce as a selling channel thanks to their simple checkout and purchasing processes. Specialty stores offer a broader selection of products compared to other retail locations, making it easier for customers to find special items.
- The open string pattern held the largest tennis racquet market share in 2022
By string pattern, the open string pattern category dominated the market in 2022. The performance of the racquets is typically impacted by their string configuration. The most popular open-string pattern racquets are 16x18 and 16x19. These racquets are called as open string patterns because of the larger squares and broader string spacing. Open string patterns are more popular than tight or closed string patterns. Professional athletes frequently practice or compete using racquets with an open-string configuration.
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Tennis Racquet Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 1,182.41 Million |
| Market size value in 2023 | USD 570.25 Million |
| Expected CAGR Growth | 8.4% from 2023 - 2032 |
| Base Year | 2021 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | ASICS Corporation, Authentic Brands Group, LLC, ASI -CSP, LLC, ABG-PRINCE OPCO, LLC, Amer Sports LLC, Babolat Inc., Dunlop Sports Group Americas Corp., EAD Inc., GAMMA Sports Corporation, Head N.V., ONE SPORTS s.r.l, PowerAngle, PACIFIC Holding GmbH, ProKennex Ltd., Slazenger GmbH, Tecnifibre Inc., Volkltennis GmbH, Solinco Inc., Wilson Sporting Goods, and YONEX Co., Ltd. |
| Segments Covered | By Product Type, By End-User, By Distribution Channel, By String Pattern, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- The tennis racquet market demand in Europe is predicted to show significant growth
On the basis of geography, Europe is estimated to grow at significant growth because tennis is the most popular sports activity in the region. Also, rising government funding to promote young people's involvement in sports is expected to propel market growth.
Tennis is a popular activity in the area, and the government has provided significant funding to encourage youth participation in the sport, which is likely to fuel market growth throughout the foreseeable future. In October 2021, in order to refurbish more than 4,500 public tennis courts in the UK's poorest areas and entice a new generation of players to the sport, the Lawn Tennis Association, and the government have revealed a £30 million package.
Moreover, the market demand is expected to increase in Asia Pacific due to the availability of more tennis courts and training facilities in the region. In addition, an increase in the population's use of exercise and healthcare coupled with growing per capita disposable income in the region are some of the tennis racquet market trends positively influencing regional growth.
Browse the Detail Report “Tennis Racquet Market Share, Size, Trends, Industry Analysis Report, By Product Type (Power Racquets, Control Racquets, and Tweener Racquets); By Distribution Channel; By End-Use; By String Pattern; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/tennis-racquet-market
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Recent Developments
- In August 2022, The All Design Labs team created a revolutionary racquet design that stood out from the competition by utilizing AI techniques like DALLE and mid-journey. The Htkw idea attempted to produce racquets that performed better while being lighter and more durable.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
- What are the key strategies adopted by companies in the impact market?
- What are the main findings of Porter’s five forces analysis and the SWOT analysis of the major companies in the market?
Polaris Market Research has segmented the tennis racquet market report based on product type, distribution channel, end-use, string pattern, and region:
By Product Type Outlook
- Power Racquets
- Control Racquets
- Tweener Racquets
By End-Use Outlook
- Adults
- Kids
By Distribution Channel Outlook
- Independent Sport Outlets
- Specialty and Sports Shops
- Discount Stores
- Franchised Sport Outlets
- Modern Retail
- Online Retail
- Others
By String Pattern Outlook
- Open String Pattern
- Tight or Closed String Pattern
- Head Size
- Midsize Mid Plus
- Oversize
- Super Oversize
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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