Padel Market Size, Share, Growth, And Industry Analysis, By Type (Padel Racket, Padel Footwear), By Application (Professional, Amateur), Regional Insights, and Forecast From 2031

Updated On: 08 April 2024

Padel Market Report Overview

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The global padel market size was USD 190.78 Million in 2021 and market is projected to touch USD 477.03 Million by 2031, at a compound annual growth rate (CAGR) of 9.6% from 2021 to 2031.

It differs from paddle tennis, which is a well-liked game in regions of U.S. and Canada. On an enclosed court that is smaller than a tennis court, the sport is frequently played in doubles. The scoring is the same and the balls utilized are comparable to those employed in conventional tennis but with a little less pressure. This four-person game, usually played in doubles, is played on a miniature type of tennis courts made of the encircling glass walls. This sport brings together action, excitement, and social interaction for both amateurs and professionals. People of all ages and skill levels can enjoy it because it is simple to play and learn.

COVID-19 Impact: Interruption in Supply Chains to Deplete Market Growth

The eruption of COVID-19 has done act as a substantial restraint on some market in 2020, as businesses have been disrupted due to global government lockdowns. COVID-19 is a contagious disease that causes flu-like symptoms such as fever, coughing, and difficulty breathing. National governments' efforts to limit transfer have led to a decrease in business growth and confined trade in goods and services, with nations entering a 'lock down' state. The market suffered as a result of the closure of the courts. Many markets were been affected from this because the main focus was on the respiratory issues. The market growth is expected to rebound from the shock over the forecast period.

Latest Trends

"Requirement of Less Technical Expertise to Intensify Market Magnification"

 It is simple to learn and suitable for participants over all ages and abilities. Anyone who has practiced or even explored other racquet sports including badminton, tennis or squash will also pick up the game quickly. Compared to tennis, it is easier to learn and demands less technical expertise. As a result, the participants are more likely to participate and start having fun with the game. The sport attractiveness is also influenced by its social aspect. There is less room between the players because this sport court is small than a tennis court.

Padel Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into racket, padel footwear

Racket is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into professional, amateur

Professional are the leading part of the application segment

Driving Factors

"Low Cost of the Sport to Boost Market Share"

The sport is significantly less physically taxing than all the other racquet sports, especially tennis. It is also less expensive. This sport still offers a great aerobic workout, but due to the lack of movement, it is less taxing on the physique than other racquet sports. Furthermore, there is a very little risk of harm. Another reason why a lot of tennis players periodically switch to playing the sport is because they find tennis to be too physically taxing. Due to its lower size compared to tennis courts, this sport courts necessitate less space to be built. The quantity and cost of the required materials are also decreased due to the smaller size. Therefore, the padel market share is profited by the growing consumer preference.

"Growing Preference for Lighter Racket to Expand Market Forwarding "

Shoes, luggage, racquets, and balls make up the component segment. Over the forecast period, the racquets section is expected to have the greatest CAGR of 6.02%. Since this sport racquet is solid and without strings, it must have perforations. Since it is small and more portable than a tennis racquet, it is considerably simpler for everyone to handle. There are several varieties, including tear, drop, pear, round, and diamond. The hard impact surface of the rackets is pierced to make it easy to swing through the air. Players will have more grip and less power with a light racket than they will with a heavier one. Lighter rackets are preferable for novices and beginners, while heavier rackets are better for expert and experienced players. Owing to the growing preference for the lighter racket the padel market growth is expected to be elevated during the predicted timeframe.

Restraining Factors

"High Cost of the Indoor Court to Deplete Market Advancement"

On the other hand, playing on an indoor court is significantly more expensive than doing so outside. In contrast to indoor courts, there are several locations, mostly tennis clubs, that enable to play outside. Because many of the balls will collide with the roof, not all indoor centers have indoor tracks appropriate for creating globes at large heights which could limit the padel market from expanding.

Padel Market Regional Insights

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"Growing Recognition to Foster Market Growth in Europe "

The padel market share leader is Europe, which brought in 37.46% of the market's overall revenue. In Britain, the sport has received official recognition as a sports discipline. It is gaining popularity within its own nation. This sport is one of the amateur sports in Europe that is growing the fastest, which was only classified as a form of tennis. Additionally, it's pleasant, social, and easy to learn. In Europe, there are around 20,000 courts and an estimated 4 million players. After football, it is the second-most popular activity in the nation.  Additionally, there are currently 82 court at 45 clubs in the region, and over the following few years, that number is anticipated to rise dramatically.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Tecnifibre (France)
• Head (Austria)
• Abrams Padel (Morocco)
• Adidas (Germany)
• Prince (U.S.)
• Enebe (Spain)
• Dunlop Sport (U.K.)
• Bullpadel (Spain)
• Starvie (Spain)
• Nox (South Korea)
• Babolat (France)
• Wilson (Norway)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.