Squash Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Squash Rackets, Squash Balls, Squash Shoes), By Application (Specialty and Sports Shops, Department and Discount Stores, Online Retail), Regional Insights and Forecast to 2031

Updated On: 08 April 2024

SQUASH EQUIPMENT MARKET REPORT OVERVIEW

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The global Squash Equipment Market Size was USD 876.1 million in 2021 and the market is projected to touch USD 1103.8 million by 2028, exhibiting a CAGR of 3.3% during the forecast period.

The squash equipment market has seen significant growth and evolution in recent years, driven by a surge in interest and participation in the sport globally. From rackets and balls to shoes and apparel, the market offers a diverse range of high-quality products catering to players of all skill levels. Technological advancements have led to the development of innovative racket designs, materials, and string configurations, enhancing players' performance and comfort on the court.

Additionally, sustainability and eco-friendly initiatives have gained traction within the market, prompting the introduction of environmentally conscious squash equipment. With an increasing emphasis on fitness and wellness, coupled with the sport's dynamic and competitive nature, the squash equipment market continues to expand, offering enthusiasts a wide array of choices to elevate their game.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic significantly impacted the squash equipment market growth by disrupting global supply chains, causing shortages, and leading to production delays. The closure of manufacturing facilities, restrictions on international trade, and logistical challenges resulted in a shortage of raw materials and components necessary for producing squash equipment. As a result, manufacturers faced difficulties in meeting the rising demand for equipment, leading to inventory shortages and delays in fulfilling orders. This disruption in the supply chain adversely affected the market's growth trajectory, causing temporary setbacks despite the sport's increasing popularity and demand for equipment.

LATEST TRENDS

"Integration of advanced materials and technology in design process to Drive Market Growth"

One of the latest trends in the squash equipment market is the integration of advanced materials and technology in racket design to enhance performance. Manufacturers are continually experimenting with new materials, such as carbon fiber composites, graphene, and innovative frame geometries, to create rackets that offer superior power, control, and maneuverability.

SQUASH EQUIPMENT MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Squash Rackets, Squash Balls, Squash Shoes.

Squash Rackets: Engineered with varying materials and frame designs to provide players with a balance of power, control, and maneuverability on the court.

Squash Balls: Manufactured in different speeds and types (single, double yellow dot) to suit players' skill levels and court conditions, ensuring optimal bounce and performance.

Squash Shoes: Designed with supportive soles and breathable materials to offer players stability, grip, and agility while providing comfort and reducing the risk of injuries during intense movements on the squash court.

• By Application

Based on application the global market can be categorized into Specialty and Sports Shops, Department and Discount Stores, Online Retail.

Specialty and sports shops provide a curated selection of premium squash equipment, offering personalized advice and specialized gear suited to players' specific needs and preferences.

Department and discount stores occasionally carry basic squash equipment, providing a more generalized and budget-friendly option for beginners and casual players.

Online retail platforms offer a vast array of squash equipment choices, allowing shoppers to compare prices, read reviews, and access a wide range of brands and models conveniently from anywhere with shipping options for global accessibility.

DRIVING FACTORS

"Technology Advancements to Boost the Market"

Continuous innovation and advancements in racket design, materials, and manufacturing processes drive the market forward. Improvements in racket construction, such as the use of advanced materials, innovative string patterns, and frame technologies, aim to enhance players' performance, comfort, and durability, thereby stimulating demand for upgraded equipment.

"Increasing Participation and Popularity to drive market growth"

The growing interest in squash as a recreational and competitive sport among players of varying skill levels contributes to the expansion of the market. The sport's rise in popularity globally, driven by increased awareness of its health benefits, accessibility to facilities, and promotion through professional tournaments and events, fuels the demand for quality squash equipment among enthusiasts and beginners alike.

RESTRAINING FACTORS

"Limited access to courts and facilities to set back Market Growth"

A significant restraining factor in the squash equipment market is the limited accessibility to squash facilities and courts. The availability and proximity of squash courts play a crucial role in fostering interest and participation in the sport. However, in many regions, there's a scarcity of squash facilities, which restricts the opportunities for people to engage in the sport.

SQUASH EQUIPMENT MARKET REGIONAL INSIGHTS

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"Europe dominating the Market due to sports facilities and easy access to courts"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa.

Europe's dominance in the squash equipment market can be attributed to the continent's robust infrastructure for sports facilities and widespread accessibility to squash courts. The prevalence of well-established sports clubs, fitness centers, and dedicated squash facilities across various European countries significantly contributes to the popularity and growth of the sport.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovative Product Offerings"

Key industry players play a pivotal role in shaping the squash equipment market share by leveraging their brand recognition, innovative product offerings, and strategic partnerships. These influential entities, including established brands like Wilson, HEAD, and Tecnifibre, continually invest in research and development to introduce cutting-edge racket designs, advanced materials, and technology-driven innovations. By focusing on enhancing player performance, comfort, and durability, these market leaders secure a significant portion of the squash equipment market share.

List of Market Players Profiled

• Tecnifibre (France)
• Babolat (France)
• Amer Sports (Finland)
• HEAD (U.S)
• Slazenger (U.K)

INDUSTRIAL DEVELOPMENT

July 2021: In 2021, Dunlop introduced its latest series of Sonic Core Revelation squash rackets. These new rackets are designed with a special technology called Sonic Core Infinergy, which Dunlop has newly included in their teardrop-shaped rackets. This technology aims to enhance the performance and feel of the rackets, providing players with improved features for better gameplay.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.