This market research report includes a detailed segmentation of the global tennis racquet market based on end-user (adult and young), raw material (aluminum and carbon fiber), by retail formats (specialty and sports shops, department and discount stores, online retail, and others), and by key geographies (the Americas, APAC, Europe, and MEA). It also includes an insightful analysis of the leading vendors in this market such as Amer Sports, Babolat, HEAD, Tecnifibre, and Yonex.
Technavio has released its new market research report, global tennis racket market, which is expected to grow at a CAGR of 2% between 2016 and 2020. The growing awareness about the importance of sports on health and fitness among the mass across the globe is expected to impact the market positively over the next five years. Tennis is gaining popularity among consumers, especially the elderly population, as it helps in maintaining fitness. The Americas lead the global market for tennis rackets, accounting for 49% of the total market share. Rising number of frequent or regular players and the increase in the demand for tennis rackets, especially among the younger generation, are primary factors expected to propel the growth of the market in the Americas
“Nowadays, consumers, particularly professional athletes, prefer lightweight sports equipment as they allow for better performance due to their excellent stiffness and high strength. Therefore, the use of nanomaterials to manufacture tennis rackets is increasing, which is expected to contribute to the revenue and aid in market growth during the forecast period,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
Carbon fiber, or graphite, is the primary raw material used for manufacturing tennis rackets worldwide as they are lightweight and rigid, hence their demand in the market is higher compared to aluminum. The carbon fiber segment accounted for more than 60% of the global tennis racket market as of 2015.
The leading vendors in the global tennis racket market include Amer Sports, Babolat, HEAD, Tecnifibre, and Yonex. Providers in the market are presenting attractive products based on innovation, technology, as well as design, to differentiate their products and capture higher customer base. This shift will help them in expanding their market share as well. Therefore, competition among vendors based on product portfolio and pricing is expected to increase over the next five years.
A more detailed analysis is available in the Technavio report, Global Tennis Racket Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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