The global for tennis racquets market reached a value of $1.57 billion in 2022, and it is anticipated to reach $2.25 billion by 2032, showing a robust compound annual growth rate (CAGR) of 4.6% throughout the projected period. A primary driver of this revenue growth is the growing participation in tennis, both as a leisure activity and in competitive settings. Tennis is gaining popularity, particularly among the younger demographic, both as a recreational pastime and a competitive sport, leading to an increased demand for racquets equipped with advanced technology. This surge in interest extends across all age groups, highlighting the global appeal of tennis.
Moreover, the expanding number of amateur and professional tennis players plays a pivotal role in propelling the market's revenue. The heightened enthusiasm of younger players for the sport has created a substantial demand for tennis equipment, including racquets, thereby contributing significantly to market growth.
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Competitive Landscape:
- Babolat
- Head
- Wilson Sporting Goods
- Dunlop Sports
- Yonex Co. Ltd.
- Prince Global Sports
- Tecnifibre
- Völkl Tennis
- Asics Corporation
- Gamma Sports
Restraints of Tennis Racquet Market
- High Competition: The tennis racquet market is highly competitive, with several well-established brands and manufacturers vying for market share. This intense competition can make it difficult for new entrants to gain a foothold and for existing companies to maintain profitability.
- Price Sensitivity: Tennis racquets can be expensive, especially those made with advanced materials and technologies. This can make potential buyers price-sensitive, and economic downturns may affect their willingness to invest in high-end racquets.
- Economic Factors: The overall state of the economy can significantly impact the tennis racquet market. In times of economic recession or uncertainty, consumers may cut back on non-essential purchases, including sports equipment like tennis racquets.
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Tennis Market Segmentation
Product Type Outlook:
- Graphite
- Aluminum
- Hybrid
- Wood
- Others
End-Use Outlook:
- Professional
- Recreational
- Amateur
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