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Squash Rackets Market to Witness Exponential Growth, Expected to Hit US$ 18.75 Billion by 2033 at 6.2% CAGR

04-15-2024 10:24 AM CET | Sports

Press release from: Fact.MR

Squash Rackets Market to Witness Exponential Growth, Expected

According to a recently released Fact.MR analysis, the global squash rackets market showed a compound annual growth rate (CAGR) of 2.7% from 2018 to 2022, and it was valued at US$ 11.40 billion in 2023. By the end of 2033, the global market is expected to grow at a CAGR of 5.1% and reach a value of US$ 18.75 billion.

Squash is expected to become more and more popular worldwide, which will contribute significantly to the need for squash rackets. The Professional Squash Association (PSA) and the World Squash Federation (WSF), two international sports organizations, are hosting a growing number of world championships and tournaments, which is encouraging more individuals to play squash.

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Squash is a unique racket sport that requires skill, dexterity, and strategy. The squash rackets itself, which players use to drive the ball across the court quickly and accurately, are fundamental to this fast-paced, thrilling sport. The need for superior squash rackets is rising along with squash's popularity on a global scale. This article examines the growing market for squash rackets, revealing inventions, trends, and the factors that have fueled the industry's ascent to prominence.

Competitive Landscape:
Important squash racket suppliers are making investments in new innovations, upholding product standards, bolstering their supply chain management systems, offering high-quality items, etc.

The market for squash rackets is competitive and somewhat fragmented because there are many players in the market. Prominent manufacturers are collaborating, expanding geographically, buying other companies, etc.
As an example:
• In an effort to raise the profile of squash in the nation and raise teaching levels, the Squash Rackets Federation of India and HCL launched the Squash Podium Program in May 2019.
• To increase the resources needed for sports, St. James partnered with Tecnifibre and TaylorMade in October 2019.

Key Companies Profiled:
• Ektelon LLC
• Amer Sports
• Prince Global Sports LLC
• Dunlop Sports Co Ltd.
• Tecnifibre, Soccer International Pvt. Ltd.
• Oliver Sports & Squash GmbH
• Kamachi, Black Knight Enterprises Ltd.

Evolution of Rackets for Squash:
Squash rackets have come a long way from the wooden ones of the past to the ultralight carbon fiber marvels of today. With features like wider sweet areas, aerodynamic frames, and vibration-dampening technologies that improve power, control, and comfort on the court, modern squash rackets are designed for maximum performance. Players can adjust their rackets to fit their playing style and preferences by adjusting grip size, string tension, racket head size, and weight distribution, among other customization options.

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Market Trends and Dynamics:
The following important factors are driving the continuous expansion of the squash rackets market:
Global Expansion: As squash becomes more and more popular worldwide, there is a greater need for equipment and rackets of the highest caliber.
Technological Innovation: To enhance racket performance, manufacturers are continuously introducing new materials, construction methods, and design elements.

New Developments and Prospects:
Future trends influencing the squash rackets industry are as follows:
• Personalization and Customization: As players look for racket options that are more suited to their unique requirements and playing styles, manufacturers are presented with opportunity to provide custom-made solutions.
• Technology Integration: Sensor- and connectivity-equipped smart rackets are becoming more and more popular, giving players access to real-time performance data and insights to improve their game.

Segmentation of Squash Rackets Industry Research
By Construction :
Open Throat
Closed Throat
By Balance :
Head Heavy
Head Light
By Weight :
By Player :
By Frame Material :
By Sales Channel :
Independent Sports Outlets
Franchised Sports Outlets
Sports Retail Chains
Modern Trade
Direct-to-Customer Online
Third-party Online
Direct-to-Customer Institutional
By Region :
North America
Asia Pacific
Latin America
Middle East & Africa

In conclusion, the squash rackets market is poised for continued growth and innovation as the sport of squash continues to capture the imagination of players around the world. With advancements in design, technology, and sustainability, squash rackets are becoming more versatile, efficient, and accessible than ever before. Whether you're a seasoned pro or a novice enthusiast, there has never been a better time to explore the exciting world of squash and discover the perfect racket to take your game to the next level.

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About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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