Badminton equipment in APAC: Key market research findings
- China accounts for a majority of the market’s share
- Badminton rackets generate majority of the market’s revenue
- Key vendors – Ashaway, Babolat, Li-Ning Company, Sports Direct, and YONEX
Technavio’s market research analysts predict the badminton equipment market in APAC to grow at a CAGR of almost 3% between 2016 and 2020. The demand for badminton equipment in the region is spurred an increase in the number of badminton tournaments being organized and played across the region. China dominates the badminton equipment market globally owing to the high popularity of the sport in the country and the favorable scenarios provided by the government. According to the Badminton World Federation (BWF), China’s national badminton team is currently ranked as number one globally, which further reinforces the popularity of the sport in the country.
The new market research report from Technavio presents a breakdown and analysis of the badminton equipment segments based on the product type.
“An increase in the use of nanomaterials in the manufacture of badminton rackets is an ongoing trend in this market. Consumers, especially professional athletes, prefer modern lightweight equipment owing to their improved stiffness, high strength, and flexibility. Carbon fiber is replacing the traditional metal, wood, and steel in modern sports equipment. Furthermore, carbon fiber-reinforced plastic moldings in this type of equipment are being used largely instead of traditional glass-reinforced plastic moldings,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
In 2015, the badminton rackets segment occupied the maximum share of the market is expected to reach almost $222 million in terms of revenue by 2020. The wide popularity of badminton in the region is the primary driving force behind the growth of the badminton rackets market in APAC. Badminton rackets are manufactured using a number of different materials, ranging from carbon fiber composites to solid steel. The use of nanomaterials such as fullerene and carbon nanotubes in the manufacture of badminton rackets is expected to spur an increase in the demand for lightweight badminton rackets during the forecast period.
The key vendors in the market include Ashaway, Babolat, Li-Ning Company, Sports Direct, and YONEX. The badminton equipment market in APAC is monopolized by a few prominent vendors and is characterized by the presence of leading international players like Ashaway and Sports Direct. Due to intense competition among the companies, the market remains exclusive for the leading vendors. The vendors that have the capability to provide innovative solutions as part of their product portfolios will gain a competitive edge over their peers.
A more detailed analysis is available in the Technavio report, Badminton Equipment Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
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