Badminton equipment: Key market research findings
- Noticeable increase in the use of nanomaterials in the manufacture of badminton equipment
- The badminton racquet segments accounts for majority share of the market
- Key vendors—Ashaway, Babolat, Li-Ning, Sports Direct, and YONEX
The market research analysts at Technavio estimate the global badminton equipment market to grow at a CAGR of over 2% between 2016 and 2020. The increase in the number of badminton tournaments and matches across the world is the fundamental driver for the market. The rise in the number of players, as a result, fuels an increased demand for badminton equipment. The marketing strategies being adopted by vendors such as celebrity endorsements and consumer engagement and the rising interest in badminton among children are some of the factors that are projected to have a positive influence on the market during the forecast period. Currently, the APAC region dominates the global badminton equipment market by accounting for almost 54% of the overall market share. The market is thriving in this region as countries such as India, China, South Korea, Malaysia, and Indonesia are home to some of the most successful badminton players in the world and are known to organize some of the major badminton matches and tournaments. Factors such as a rising population of millennials with an increasing disposable income and the growing awareness of the resultant benefits of leading a healthy lifestyle are expected to drive the market even further in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the badminton equipment segments based on product.
“An increase in the use of nanomaterials is the latest trend in the global badminton equipment market. Carbon fiber is being used more widely in sporting equipment as there is a growing preference for lightweight equipment owing to their improved stiffness and high strength. Traditional metal, wood, and steel in modern sports equipment are being replaced with carbon fiber for reduced weight and greater flexibility and strength. Besides, carbon fiber-reinforced plastic is replacing the traditional glass-reinforced plastic moldings for more stiffness and flexibility,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
In 2015, the badminton racquet segment held a market share of almost 40% to dominate the global badminton equipment market. This segment of the market is expected to undergo considerable growth in the coming years due to the expensive pricing of badminton racquets and the fact that these products are essential for the sport. Majority of the revenue in the global badminton racquet market comes from Europe and APAC owing to the popularity of the sport in these regions.
The key vendors in the global badminton equipment market include Ashaway, Babolat, Li-Ning, Sports Direct, and YONEX. The global badminton equipment market is consolidated with the presence of a few leading vendors in the market. Intense competition between these companies necessitates the development and introduction of many advanced products in the market. The intense competition among the key players and introduction of many advanced products in the market prevent the entry of new vendors in the market.
A more detailed analysis is available in the Technavio report, Global Badminton Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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