According to the latest market research study released by Technavio, the global squash equipment market is expected to grow at a CAGR of more than 1% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global squash equipment market based on product type:
Global squash equipment market share by product type 2015
|
Squash rackets |
38.44% |
|
Squash balls |
37.74% |
|
Squash shoes |
4.19% |
|
Others |
19.63% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global squash rackets market
The sales of squash racquets accounted for more than 38% of the overall revenue generated in the global squash equipment market during 2015. Traditional squash rackets were made of laminated wood with natural gut strings. Materials such as graphite, Kevlar, titanium, and boron, with synthetic strings, became popular and were used in the manufacture of squash rackets only since the mid-1980s. Modern rackets are manufactured using advanced raw materials developed using nanotechnology, organic materials, water-based adhesives, and recycled plastic materials instead of synthetic materials. For example, Dunlop Sport uses technologies like Advanced Control System (ACS), power-ridge technology, and Multi-Filament (M-Fil) to strengthen the racket throat area and deliver maximum torsional strength, increase stiffness, and enhance the quality of rackets, respectively.
“The global squash equipment market is currently witnessing an upsurge in the demand for eco-friendly rackets, balls, strings, and other squash equipment. Traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials are being replaced with organic, water-based adhesives, and recycled plastic materials as raw materials for squash equipment. The recently developed thermoplastic elastomer is being increasingly used by key players in the market to produce eco-friendly squash equipment,” says Brijesh Kumar Choubey, a lead analyst at Technavio for research on outdoor gear.
Global squash balls market
Squash balls are made by gluing two pieces of rubber compound to form a hollow sphere. Due to its specific rubber composition, squash balls bounces more at higher temperatures. The balls’ characteristics vary, based on the temperature, atmospheric conditions, and level of play. For instance, experienced players use balls that are slower compared to the ones used by novice players. High replacement rate and technical innovations will be the key driving forces behind the growth of the global market for squash balls during the forecast period.
Global squash shoes market
The global market for squash shoes accounted for more than 4% of the overall revenue generated by the global market for squash equipment. Squash shoes are similar to badminton shoes and are used for both squash and badminton by some players. Since some of squash courts’ floors are unfinished, shoes with non-marking soles are considered ideal for the sports as they help maintain the light color of the floors. At present, squash shoes are made using lightweight materials to ensure the players’ optimal comfort. Key competitors in the global market for squash shoes use technological innovations that include Torsion Guide System (TGS) to provide stability and light weight, and Lateral Movement Stabilizer (LMS) to support the foot during fast and irregular lateral movements.
The top leading vendors operating in the global squash equipment market are:
- Amer Sports
- Dunlop Sport
- HEAD
- Prince Global Sports
- Tecnifibre
Other prominent vendors in the market include ASICS, Babolat, One Strings, Slazenger, and Solinco.
A more detailed analysis is available in the Technavio report titled, ‘Global Squash Equipment Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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- American Football Equipment Market in the US 2016-2020
- Global Sports Fishing Equipment Market 2016-2020
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