The “Global Racket Sports Equipment Market- Growth, Trends and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The global racket sports equipment market is expected to grow with a CAGR of 2.64% during the forecast period (2020 – 2025).
An increasing interest in outdoor activities in order to maintain wellbeing and fitness is a major driving factor for the growth of the market. The upgrading society in the developing regions backed up by an improved economy has been motivating the locals to develop a likeness for racket sports that require individual equipment.
However, due to the inclination of a major portion of the population in the European countries towards football and other sports and adventure activities, the market is likely to witness a hindered growth in the developed region.
Key Market Trends
Increasing Participation in Table Tennis is Anticipated to Benefit the Market
Table tennis is gaining popularity across the globe due to its fast play nature, without the requirement of a large play area. It is an extreme fitness sport that requires stamina, speed, and flexibility. Table tennis has been witnessing increased participation in the European region due to the dynamic sports taste of the natives. The figures of participating members in the United Kingdom for able-bodied players aged 16 and over and for disability players both rose in 2015. Table Tennis England planned a series of initiatives in the coming months to ensure this trend continues. A similar trend can be observed in the United States which has been witnessing consistent high sales of table tennis equipment in the past few years over the last decade. Countries of the Asia Pacific region like China, Japan, and Korea have already been actively involved in the sport. Thus, the overall growing popularity of the sport is likely to propel the market for racket sports equipment in the near future.
North America Dominates the Racket Sports Equipment Market
North American people are fond of tennis as it is a fast game and because many of the renowned tennis players are native to America. The mass fan following of the game has been influencing the kids to participate in the sport after seeing their parents’ interest in the same. The opening of various clubs that train the children to play tennis and regular playing of the game in the neighborhoods has led to increasing demand for tennis and table tennis equipment in the regional market. The interest of the adults is because of the leagues and matches that happen regularly throughout the year, maintaining the interest of the people in the game. The demand for professional equipment also arises for the various teams and individual players who practice for the games dedicatedly. Thus, it can be concluded that the high buying power helps the individuals in the region afford a personal set of racket sports equipment, as the market has ample of products ranging from high to low prices for almost everyone to afford.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.4 Racket bags
5.2 By Sport
5.2.1 Lawn Tennis
5.2.2 Table Tennis
5.3 By Distribution Channel
5.3.2 Specialty Stores
5.3.3 Online Stores
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 South America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Amer Sports
6.4.3 Head N.V.
6.4.5 Yonex Co., Ltd.
6.4.6 Goode Sport
6.4.7 Gamma Sports
6.4.9 SRI Sports Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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