About Racket Sports Equipment
Of the three racket sports discussed in this report, tennis has the highest participation rates. The sale of tennis equipment is related to the number of tennis players and their frequency of playing. Owing to an increase in the number of participants in several small and big tournaments, and an increase in the number of frequent players, the demand for tennis equipment is expected to increase during the forecast period. Several events and tournaments are being organized nowadays, which encourages people to participate in the sport. The growing interest in the sport, frequent replacement of tennis balls and rackets, and an increase in the number of tournaments are among the factors contributing to the growth of tennis equipment market.
Technavio’s analysts forecast the global racket sports equipment market to grow at a CAGR of 2.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global racket sports equipment market for 2017-2021. To calculate the market size, the report considers the sales of racket sports equipment to individual consumers across the globe in 2016.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Racket Sports Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global racket sports equipment market: Amer Sports, Babolat, HEAD, Tecnifibre, and YONEX.
Other Prominent Vendors in the market are: Goode Sport, ASICS, DUNLOP, GAMMA Sports, Li-Ning, PACIFIC, PowerAngle, Prince Global Sports, ProKennex, Slazenger, and Solinco.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increased use of nanomaterials. Modern lightweight sports equipment is preferred by consumers, particularly professional athletes, as they allow for better performance due to their improved stiffness and high strength. Lightweight sports equipment provides users more flexibility, as it is easier to control body movements with such products.”
According to the report, one of the major drivers for this market is increase in number of tournaments. The number of racket sports tournaments and matches played worldwide is on the rise, owing to the increased participation of frequent players in the past few years. Frequent players account for more than half of the revenue generated via the sales of tennis rackets. Associations like the United States Tennis Association (USTA) are also spending more on sponsoring basic level competitions and tournaments to encourage participation.
Further, the report states that one of the major factors hindering the growth of this market is high cost of equipment. Squash equipment like racket, strings, eyewear, and shoes are expensive, especially when compared to equipment of other sports like badminton and tennis. Due to the costs associated with the equipment, many people who play for recreational purposes do not purchase squash equipment outright and tend to switch to other racket sports like badminton.
Amer Sports, Babolat, HEAD, Tecnifibre, YONEX, Goode Sport, ASICS, DUNLOP, GAMMA Sports, Li-Ning, PACIFIC, PowerAngle, Prince Global Sports, ProKennex, Slazenger, Solinco.
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