Global Tennis Racquets Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Tennis Racquets Market 2021 (Includes Business Impact of COVID-19)
Global Tennis Racquets Market Opportunities, Trends, Applications, Market Size Analysis, and Growth Forecast to 2028 is a recently tracked report by analysts at Trusted Business Insights. To get an in-depth view of the report, the global tennis racquets market has been divided on the basis of raw material, end user, sales channel, and region & country.
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An Overview on the Product: Tennis Racquets


Racquet, also spelled as racket, is one of the key components of sports, comprised of strong handled frame and a hoop through which strings or cords are stretched tightly, forming a network. A racquet is basically made for striking a shuttlecock or ball while playing tennis and other games such as racquetball, badminton, and squash.


Tennis Racquets Market: Growth Driving & Hindering Factors


Increasing awareness regarding health benefits associated with playing sports and engaging in fitness activities is a major factor expected to drive growth of the global tennis racquets market over the 10-year period. In addition, increasing participation of younger, as well as the middle-aged population, in various domestic tennis competitions is another major factor expected to support revenue growth of the target market. Government authorities in certain countries such as India and China are taking various initiatives in order to inspire large number of participation in sports activities by offering various incentives to core players such as government jobs, scholarships, and other perks. This initiative is expected to widen the scope of tennis sport and is expected to result in higher demand for tennis racquets among professional players and propelling growth of the global tennis racquets market.

However, high cost of premium tennis racquets and the availability of counterfeit products in the domestic market are some of the major factors that could restrain revenue growth of the target market.


Tennis Racquets Market: Trend & Opportunity


Growing popularity of cardio tennis, especially among the middle-aged population, coupled with various health benefits associated with cardio tennis is a key trend observed in the global tennis racquets market.

Increasing focus of manufacturers on development and launch of various innovative products in terms of variations in designs and making them more light-weight, and customizing them as per requirements of the end users is a key factor expected to create revenue growth opportunities for existing companies as well as new entrants in the target market.


Segment Analysis 

By Raw Material:


Among the raw material segments, the carbon fiber segment is projected to account for significant revenue share in the global tennis racquets market. This can be attributed to its various benefits or features offered such as high durability, light-weight, and high rigidity.


By End User:


Among the end user segments, the core player segment is expected to register a significant growth rate over the 10-year period, owing to increasing number of professional tennis competitions across various countries.


By Sales Channel:


Among the sales channel segments, the specialty and sports shops segment is anticipated to register substantial growth rate, which can be attributed to easy availability of a variety of sports equipment and related products under a single roof, and customization services offered by the specialty and sports shops. The online retail segment is projected to register a notable growth rate in the target market over the next few years, owing to shifting preference of individuals to purchase sports products on E-commerce websites.


Region Analysis


The North America tennis racquets market accounted for major revenue share in the global market in 2018, and is projected to continue to dominate for the next few years. This can be attributed to increasing number of organizations for tennis tournaments, combined with growing participation rate of youth population resulting in high demand for tennis racquets. The tennis racquets market in Asia Pacific is expected to grow at a significant compound annual growth rate over the 10-year period. This is attributed to increasing demand for tennis racquets among individuals and sports organizations, schools & colleges, etc. The Europe market is expected to account for considerable revenue share in the target market, owing to presence of prominent players in the region.

Global Tennis Racquets Market Segmentation:

Segmentation by Raw Material:

  
Carbon Fiber
  
Aluminum
  
Others (Wood, Steel, Fiberglass, Titanium, etc.)

Segmentation by End User:

  
Core Player
  
Amateur

Segmentation by Sales Channel:

  
Specialty and Sports Shops
  
Discount Stores
  
Online Retail
  
Others (pro-shops, warehouse clubs, and brand manufacturers)


Key Market Players included in the report:


  
BABOLAT
  
Bonny
  
Dunlop
  
HEAD
  
Prince
  
Tecnifibre
  
Volkl
  
YONEX


Below are the key development related to Tennis Racquets Market in 2020 and 2021.


May 2021: SIGNA Sports United Acquires Tennis Express and Becomes a Leading Online Tennis Platform in the U.S. Builds on Recent Acquisition of Midwest Sports to Expand its Platform in the U.S. SIGNA Sports United (SSU), the leading sports e-commerce and tech platform, announced a binding agreement to acquire Tennis Express, a leading online tennis retailer in the United States. The closing of the acquisition is subject to certain conditions. Together with the acquisition of Midwest Sports that closed in April, SSU and its global leading tennis destination Tennis-Point have now established a leading online tennis platform in the U.S. The two acquisitions position Tennis-Point for accelerated growth and expands the reach of SSU’s platform for the benefit of brand partners and digital communities. Tennis has experienced a surge in participation amidst the COVID-19 pandemic. According to the United States Tennis Association (USTA), four million new players in the U.S. picked up a racquet for the first time in 2020, representing a 22% increase in participation. Source