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Global Badminton Racquet Market 2021: By Type (Carbon Fibre, Ferroalloy, Titanium Alloy, Aluminum Alloy, Others), By End-User (Men, Women, Kids)Global Badminton Racquet Market is the title of a research report offering by Trusted Business Insights. Key factors have been analyzed and studied comprehensively, and vital data and information are presented in the report. The revenue shares of each segment, region and country are included along with revenue-driving factors, restraints, as well as opportunities in untapped regions. Detailed information about the key players is provided in their respective company profile and recent developments, strategies, acquisitions & mergers, are also included. The Global Badminton Racquet market size was valued at USD $653.2 Million in 2020, USD $689.78 Million in 2021, forecasted to reach USD $728.41 Million in 2022, and is projected to reach USD $1126.38 Million by 2030, and is anticipated to expand at a CAGR of 5.6% over the forecast period from 2020 to 2030.
Global Badminton Racquet Market: OverviewA badminton racquet is a piece of sports equipment that consists of a padded handle and the head of the racquet that is comprised of a network of strings that are tightly stretched. It is used for striking a shuttlecock in the sport of badminton. Some racquets consist of strings that are made from animal intestines called catgut. Racquets were traditionally made with wooden materials but it did not provide the frame of the racquet with adequate stiffness. Currently, racquets are being manufactured from non-wood materials such as aluminum, steel, and carbon fiber. These materials have been proven to be a better substitute and are able to make the frame of the racquet much stronger. The strings are generally made from nylon, but, there are models of racquets that have either polyamide strings or strings made from other polymers.
Global Badminton Racquet Market: DynamicsDrivers: The increase in badminton tournaments on both national and international circuits, is one of the major factors for the growth of the global badminton racquet market. Super Series Badminton League and the Premier Badminton League are some of the popular international tournaments. In addition, the developing sports culture, especially in countries such as India and China, is leading to an increase in the number of badminton enthusiasts. This, in turn, has led to the improvement of infrastructure for badminton and the large-scale production of badminton equipment. Demand for quality badminton rackets are increasing as well, manufacturers are developing and continuously innovating products to meet the changing norms of the game. Rising concerns for health and fitness are leading people to adopt fitness routines that include the playing of badminton. Such trends are proving to be significant factors in the growth of the global badminton racquet market. Government initiatives to develop sports facilities are also expected to be among other factors for the markets growth. Restraint: Owing to less exposure of the sport in the global arena and consisting of a smaller fan base when compared to sports such as football, basketball, etc. it is expected that the market growth might face restraint. Currently, football is the most popular sport and has the biggest fan base across the globe. Also, the badminton racquet market is expected to face a stiff competition from the tennis racquet market due to tennis being a more popular racquet sport.
Global Badminton Racquet Market: Segment AnalysisBy Type: Among the badminton product type segments, the carbon fiber segment is expected to account for a majority of market share. By End User: With respect to the end-user segments, the male segment is expected to account for a majority of the revenue share.
Global Badminton Racquet Market Regional Analysis:The market in the Asia Pacific region is projected to account for majority revenue share owing to an increase in sports enthusiasts and the availability of adequate sports infrastructures in this region. Countries such as China and India are major contributors to the sports revenue in this region. The market in Europe is expected to grow at a high compounded annual growth rate (CAGR). The market in North America is projected to grow moderately due to lack in popularity of the sport and a relatively smaller consumer base when compared to the Asia Pacific region and Europe.
Below are the leading companies profiled in this Badminton Racquet Market Report:
Chapter 1 Methodology and Scope