The market for tennis racquets is growing at a steady pace the world over. The reasons for this are a growing health awareness amongst people for staying healthy and fit and playing sports like tennis fulfils this goal. Moreover, tennis is gaining a huge popularity amongst people all over the world, especially in the elderly segment of the population, as it helps in maintaining health and fitness. In the lucrative market of the United States, the market of tennis racquets is gaining ground due to a rising number of players playing tennis. However, the main challenge is to retain players for playing the game continuously, as a significant number of players quit the game after a point of time. In addition, high training costs associated with tennis acts as a restraint to the growth of tennis, and thereby hinders the growth of the tennis racquets market.
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A tennis racquet is a lightweight implement that includes netting (such as nylon) stretched in a usually oval open frame with a handle attached to it and that is used for striking the tennis ball.
This Fact.MR report on the global tennis racquet market forecasts that the global tennis racquet market will touch a value of nearly US$ 437 Mn in the year 2022 and grow at a moderate CAGR during the assessment period.
North America Market Set to Dominate the Global Tennis Racquet Market in Terms of Revenue
The market in North America is set to dominate the global tennis racquet market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America tennis racquet market is the most attractive market, growing at a steady CAGR over the assessment period.
Power Tennis Racquet Segment Poised to Touch a Value of Nearly US$ 250 Mn in 2022
As per the forecast of Fact.MR, the power tennis racquet segment is expected to reach a value of nearly US$ 250 Mn in the year 2022. This represents a steady CAGR during the forecast period of 2017-2022. Power tennis racquet segment is expected to account for more than half of the revenue share of the racquet type segment by the year 2017 and is expected to gain market share by the end of the year 2022.
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Less than 27 Inch Segment to exhibit a CAGR of 4.2% During the Assessment Period
As per the forecast of Fact.MR, the less than 27 inch segment is slated to touch a figure of nearly US$ 31 Mn in the year 2022. This represents a CAGR of 4.2% during the assessment period from 2017 till the year 2022. This segment is expected to lose market share by the end of the year 2022. The less than 27 inch segment is expected to account for nearly one-tenth of the revenue share of the racquet length segment by the year 2017.
The report also profiles companies that are expected to remain active in the expansion of global tennis racquet market through 2022, which include ASICS Corporation, Yonex Co. Ltd., Dunlop Sports Group Americas, Inc., Authentic Brands Group, LLC, Head N.V. and Babolat VS. SA.
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