Tennis Racquet Market Rising number of amateur and professional tennis players
The global for tennis racquets market reached a value of $1.57 billion in 2022, and it is anticipated to reach $2.25 billion by 2032, showing a robust compound annual growth rate (CAGR) of 4.6% throughout the projected period. A primary driver of this revenue growth is the growing participation in tennis, both as a leisure activity and in competitive settings. Tennis is gaining popularity, particularly among the younger demographic, both as a recreational pastime and a competitive sport, leading to an increased demand for racquets equipped with advanced technology. This surge in interest extends across all age groups, highlighting the global appeal of tennis.
Moreover, the expanding number of amateur and professional
tennis players plays a pivotal role in propelling the market's revenue. The heightened
enthusiasm of younger players for the sport has created a substantial demand
for tennis equipment, including racquets, thereby contributing significantly to
market growth.
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Competitive Landscape:
- Babolat
- Head
- Wilson Sporting Goods
- Dunlop Sports
- Yonex Co. Ltd.
- Prince Global Sports
- Tecnifibre
- Völkl Tennis
- Asics Corporation
- Gamma Sports
Restraints
of Tennis Racquet Market
·
High
Competition: The tennis racquet market is highly competitive, with several
well-established brands and manufacturers vying for market share. This intense
competition can make it difficult for new entrants to gain a foothold and for
existing companies to maintain profitability.
·
Price
Sensitivity: Tennis racquets can be expensive, especially those made with
advanced materials and technologies. This can make potential buyers
price-sensitive, and economic downturns may affect their willingness to invest
in high-end racquets.
·
Economic
Factors: The overall state of the economy can significantly impact the tennis
racquet market. In times of economic recession or uncertainty, consumers may
cut back on non-essential purchases, including sports equipment like tennis
racquets.
Key Regional
Markets Covered in the Report:
· North
America (U.S.A., Canada, Mexico)
· Europe
(Italy, U.K., Germany, France, Rest of Europe)
· Asia
Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin
America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle
East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East
& Africa)
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Tennis
Market Segmentation
Product
Type Outlook:
- Graphite
- Aluminum
- Hybrid
- Wood
- Others
End-Use Outlook:
- Professional
- Recreational
- Amateur
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