Tennis Racquets Market Size, Share, Growth, and Industry Analysis, By Type (Men Tennis Racquets, Women Tennis Racquets, Child Tennis Racquets), By Application (Customer Use, Commercial Use) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

TENNIS RACQUETS MARKET REPORT OVERVIEW

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The global tennis racquets market size was USD 356.7 million in 2022 and the market is projected to touch USD 433.4 million by 2028, exhibiting a CAGR of 3.3% during the forecast period. 

The tennis racquets market is dynamic, influenced by factors such as material and technology trends, player endorsements, design innovations, and market competition. Manufacturers continually introduce new materials and technologies to enhance racquet performance, and player endorsements play a crucial role in shaping consumer preferences. Innovations in design, online sales, entry of new players, and considerations for health and fitness trends also impact the market. Consumer choices are diverse, reflecting individual playing styles and preferences for power or control-oriented racquets. Additionally, the market is responsive to environmental sustainability concerns, with companies adopting eco-friendly practices gaining traction.

The competitive landscape, characterized by established brands, fosters a dynamic market where pricing strategies, product innovations, and online distribution channels play significant roles. The ongoing rise of e-commerce transforms the retail landscape for tennis equipment, influencing consumer accessibility and purchasing behavior. To stay updated on the latest developments, consulting industry reports, market analyses, and monitoring news from reliable sources is recommended.

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 pandemic disrupted global supply chains, affecting the production and distribution of tennis racquets. Lockdowns, restrictions, and closures of manufacturing facilities led to delays and shortages in product availability. With lockdowns and restrictions on social activities, many sports, including tennis, experienced changes in consumer participation. Some areas saw increased interest in outdoor and individual sports like tennis as people sought socially distant recreational activities. The cancellation or postponement of major tennis tournaments and events impacted the visibility and promotion of tennis brands.

The pandemic has prompted a surge in interest in outdoor activities as people sought safe and socially distant forms of recreation. Tennis, being an outdoor sport, experienced increased participation. With restrictions on team sports and group activities, individual sports like tennis gained popularity. Tennis provides a way for individuals to stay active while maintaining physical distance. The accelerated shift to online shopping benefited the market.

LATEST TRENDS

"Tech Trends in Tennis Racquets to Drive Market Growth"

Graphene continues to dominate, but new material blends like basalt and tungsten are emerging for better power, feel, and durability. Sensors embedded in the handle track swings data like power, spin, and contact point, offering personalized insights for improvement. Online tools use playing style and physical data to recommend the perfect racquet specs for individual players. While graphene remains the king of high-performance materials, its high cost and manufacturing complexity limit its accessibility. Sensor technology is moving beyond basic metrics like swing speed and power. Some tools use advanced simulations to predict how different racquet specifications will impact your game based on your data. This allows you to virtually test various options before making a purchase.

TENNIS RACQUETS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into men tennis racquets, women tennis racquets, child tennis racquets.

Men Tennis Racquets: Engineered for power and control, men's racquets often feature a combination of strength and precision to meet the dynamic playing styles of male athletes.

Women Tennis Racquets: Designed with a focus on maneuverability and comfort, women's racquets typically offer a balance of power and control, catering to the specific needs and preferences of female players.

Child Tennis Racquets: Scaled down in size and weight, child tennis racquets prioritize ease of handling and skill development, allowing young players to comfortably learn and enjoy the fundamentals of the game.

• By Application

Based on application the global market can be categorized into customer use, commercial use.

Customer Use: Racquets for customer use are designed with a focus on individual player preferences, offering a range of features such as power, control, and maneuverability to cater to diverse playing styles and skill levels.

Commercial Use: Commercially used racquets are often selected for durability and versatility, accommodating the demands of rental facilities, coaching programs, and institutions where racquets may be used by various players over an extended period.

DRIVING FACTORS

"Increasing Interest and Player Endorsements to Boost the Market"

One of the key driving factors in the global tennis racquets market growth is the increasing interest and player endorsements in urban areas. Increased interest in tennis as a recreational and fitness activity contributes to the growth of the market, with more individuals seeking quality racquets to participate in the sport. Endorsements by professional players significantly influence consumer preferences, with players' success and popularity driving the demand for specific racquet brands and models. The emphasis on health and wellness fuels interest in sports like tennis, driving the demand for tennis racquets among individuals seeking physical activity and stress relief.

"E-Commerce Growth and Customization Options to Expand the Market"

Another driving factor in the global tennis racquets market is the e-commerce growth and customization options offered by these products. The expansion of online retail channels provides consumers with convenient access to a wide range of tennis racquets, contributing to market growth and allowing manufacturers to reach a broader customer base. Growing consumer demands for customization options, including grip size, string tension, and racquet weight, drive manufacturers to offer a range of choices to cater to individual player preferences. Major tennis tournaments, such as Grand Slam events, create spikes in consumer interest and sales as viewers and enthusiasts are inspired by the performances of professional players.

RESTRAINING FACTOR

"High Price Points and Economic Uncertainty to Potentially Impede Market Growth"

One of the key restraining factors in the global tennis racquets market is the high price points and economic uncertainty of these products. Premium and high-performance racquets can have relatively high price points, deterring price-sensitive consumers and limiting market expansion among certain demographics. Economic downturns and uncertainties can lead to decreased consumer spending on non-essential items, affecting the sales of tennis racquets as they may be perceived as discretionary purchases. Tennis is often considered a seasonal sport, and market demand for racquets may be influenced by weather conditions, limiting sales during inclement weather or off-season.

TENNIS RACQUETS MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market due to Presence of a Large Consumer Base"

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

North America has emerged as the most dominant region in the global tennis racquets market share due to several factors. The United States has a strong tradition of tennis participation. Tennis is a popular sport with a large player base, including both recreational and competitive players. This region often has a relatively affluent consumer base with a higher purchasing power, enabling more people to invest in quality tennis equipment, including racquets. Countries in the United States have a strong sporting culture, with tennis being a widely followed and played sport. This contributes to a robust market for tennis equipment. The presence of major tennis tournaments, such as the US Open, in this region contributes to the popularity of tennis and the demand for associated equipment. Well-established distribution networks and retail infrastructure in this region make it easier for consumers to access a variety of tennis equipment, including a wide range of tennis racquets.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The tennis racquets market is notably influenced by key industry players that play a crucial role in steering market dynamics and shaping consumer preferences. These leading players boast extensive retail networks and online platforms, offering consumers convenient access to a diverse range of tennis racquet options. Their robust global presence and well-established brand recognition have fostered heightened consumer trust and loyalty, stimulating the adoption of their products. Furthermore, these industry leaders consistently invest in research and development, introducing innovative designs, materials, and performance-enhancing features in racquets, aligning with the ever-evolving needs and preferences of consumers. The collaborative efforts of these major players significantly influence the competitive landscape and future trajectory of the tennis racquets market.

List of Market Players Profiled

• HEAD (France)
• BABOLAT (France)
• YONEX (Japan)
• Prince (U.S.)
• Dunlop (U.K.)
• Tecnifibre (France)
• Volkl (Germany)

INDUSTRIAL DEVELOPMENT

December 2023: Startups like Babolat DriveMax and Wilson Labs bypass traditional retailers, offering premium, customizable racquets at competitive prices online. This disrupts the market by cutting costs and providing personalized buying experiences.

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.