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Racket Sports Equipment Market Size, Trends, Latest Trends, Challenges, Key Players and Forecast 2031 | Authentic Brands Group, PowerAngle, Solinco Sports
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A racquet or racket is a sports equipment used to hit a ball or shuttlecock in sports such as tennis, squash, badminton, racquetball, and paddle. It contains a handled structure with an open round, around which a web of strings is tightly stretched.
Factors Influencing Market Growth
The rising popularity of tennis is motivating individuals, particularly women to participate in tennis in large numbers. This element drives the overall market expansion.
The rising of e-sports is hindering the expansion of the overall market.
Presently, manufacturers are more focused on innovations and the launch of new brands of racket sports equipment which is expected to drive the overall market expansion.
The rise in fitness and sports awareness and the increase in government ambitions towards fitness and sports drive the expansion of the overall market.
Effect of the COVID-19 Pandemic
The COVID-19 outbreak adversely impacted the overall market expansion. The pandemic that influenced the whole world propelled the suspension of most athletic competitions in 2020. Most non-essential companies closed due to these strict limitations and precaution measures, which contain bans on public meetings, social distancing, and stay-at-home demands from many countries across the world. Most sports equipment production companies and community fitness centers were closed, prohibiting athletes' access to tools.
Regional Insights
North America is anticipated to maintain the highest share of the overall market growth. This is attributed to the region having a large number of people interested in racquetball, playing tennis, etc., and the manufacturing of advanced products and recycled polyester.
Asia Pacific is anticipated to be the fast-growing global market, owing to the comfortable availability of raw materials and affordable labor in the region. Racket sports and especially badminton are earning much more engagement and popularity primarily due to the increase in the star players winning and contesting in the region.
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Leading Competitors
The prominent players in the global racket sports equipment market are:
Counter-Strike Table tennis
Nike
Authentic Brands Group
PowerAngle
Solinco Sports
PACIFIC Holding GmbH
Donnay
Maus Feres
Sumitomo Rubber Industries
BABOLAT VS S.A
Volkl Ski International
Others
Segmentation Analysis
The global racket sports equipment market segmentation focuses on Product Type, End User, Application, Distribution Channel, and Region.
Segmentation on the basis of Product Type
Rackets
o Tennis
o Racquetball
o Squash
o Badminton
o Paddle tennis
Balls
Eyewares
Racket Bags
Accessories
Segmentation on the basis of End User
Men
Women
Kids
Segmentation on the basis of Application
Squash
Tennis
Badminton
Racquetball
Segmentation on the basis of Distribution Channel
E-Commerce
Hypermarket
Specialty Stores
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?
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