General Retail Goods and Services
Overview of the global table tennis equipment market
The International Table Tennis Federation (ITTF), the governing body for Table Tennis events worldwide, is focusing on expanding the scope of the game by developing the skills of the players and holding training programs to increase regular participation worldwide. Since it is the national sport of China, there is a high availability of experienced Chinese table tennis coaches across the globe who help in developing the skills and standards of the players. The high-level table tennis training offered by these coaches have led to the increased participation of quality players in the major table tennis tournaments. The latest trend in the market is the use of robots for table tennis practice and leisure games. Factors such as difficulty in finding a partner to play have boosted the popularity of robots in table tennis. The table tennis robot is more accurate and has the ability to place the balls in more than six different positions in the sequence. The advent of such advanced robots in the market has surged their applications in many table tennis clubs and home tables. Technavio’s market research analyst predicts that the global table tennis equipment market will grow at a steady CAGR of more than 2% by 2020.
APAC will continue to dominate the table tennis equipment market during the forecast period and is likely to occupy more than 65% of the overall market share. Much of the region’s growth primarily comes from China, which has the highest number of table tennis players in the world. Moreover, the availability of upgraded quality equipment, especially rackets, will drive the market in the region during the forecast period. The increasing number of players and tournaments in the region will also shoot up
Overview of the microwave oven market in the US
Technavio’s market research analyst predicts the microwave oven market in the US to grow at a CAGR of almost 4% by 2020. Owing to modifications and modernization in the kitchen designs, the market for built-in microwave oven will witness huge growth during the forecast period. Consumers are making more investments in their kitchen models and are opting for such designs that are sophisticated and easy to maintain. With the growing trend of modular kitchen gaining prominence, the demand for kitchen appliances like built-in microwave ovens has increased considerably. Vendors are also coming up with multi-functional and pre-programmed cooking options in microwave ovens such as cooking, baking, as well as grilling. They are also focusing on developing features such as auto cook and auto reheat, and child lock in ovens.
The growing number of smart homes have triggered consumer interest in connectivity-enabled smart appliances. Consumers are opting for smart appliances, like smart microwave ovens, which can be connected to their smartphone and monitored remotely. Moreover, the improvement in network infrastructure has resulted in better broadband and internet penetration, and consumers prefer wireless and technologically advanced products due to the convenience offered by such products. With the growing trend of home automation, smart microwave ovens will witness increased adoption over the next four years.
Competitive landscape and key vendors
This market is highly competitive due to the presence of both international and local players operating across the country. Competition in the market is expected to intensify with the vendors coming up with innovative products to meet the
Overview of the sports and fitness wear market
According to the market research analysts at Technavio, the sports and fitness wear market is expected to witness steady growth and will post a CAGR of more than 4% over the forecast period. With increasing celebrity endorsements for sportswear, the market for sports and fitness wear market is anticipated to a positive outlook in the coming years. Launching advertising campaigns by famous athletes and sportspersons is a tried and tested marketing strategy followed by most established vendors and manufacturers. It has been observed that consumers prefer buying the products that their favorite sportspersons promote. Therefore, vendors often sign popular players to endorse their products, and in turn, cash in on their fan following. For example, famous athletes such as Usain Bolt is the global brand ambassador for the German sportswear company, Puma. Celebrity endorsements can also enhance the brand image by engaging consumers with the particular brand they are promoting. Such celebrity endorsements are expected to largely help in the growth of the market until the end of 2020.
The increasing need to preserve the environment, most consumers, have started demanding for sustainable products. This has led the vendors increasingly focusing on manufacturing products that can reduce the harmful effects on the environment. As a result, organic cotton, recycled rubber, synthetic materials, and water-based adhesives are replacing traditional leather, synthetic rubber, nylon, polyurethane, and other synthetic materials in the manufacture of sports apparel. For instance, Under Armour has developed a green clothing line, which uses two million plastic bottles every year to manufacture the clothes, shoes, and
Overview of the haying and forage machinery market in North America
In recent years, there has been a rapid increase in the adoption of farm mechanization practices. Farm mechanization helps to achieve timeliness in field operations, increase productivity, and cut down crop production cost, boosting crop yield and farm revenues. The emphasis on farm mechanization will increase in the coming years owing to the several benefits it offers such as timely, precise, and scientific farm operations, increasing farm input, and efficiency in use of labor, resulting in improved agricultural productivity. In addition, with the growing farm mechanization and farm consolidation practices, there is surging demand for high-capacity farm machinery that provides a high-quality output with an increase in ownership cost and low maintenance. With the growing popularity of such innovative agricultural practices and the subsequent use of advanced agricultural equipment, the market for haying and forage machinery in North America will witness huge growth in the coming years. Extensive research carried out by Technavio’s market research analysts predict that the haying and forage machinery market in North America will post a CAGR of around 5% by 2020.
The constant technological advancements in the farm machinery across the globe has encouraged the agricultural industry to enhance the hay and forage quality, output, cost-effectiveness, and processes like the rate of drying. The latest development gaining momentum in the market is the incorporation of
Overview of the global power lawn mowers market
Technavio’s market research analyst predicts the global power lawn mowers market to grow at a CAGR of more than 4% by 2020. The manufacturers in the power lawn mowers market are introducing new models of lawn mowers with additional features to enhance their efficiency and productivity. Some of the improved features that the vendors have incorporated in the power lawn mowers include variable speed technologies, low-noise blades, increased blade size, lithium-ion battery technologies, and the need for less storage room. Consumers are opting for battery-powered or electric mowers because of environmental concerns and the high fuel prices of electric mowers. The advencements in battery technologies, including lower prices of lead acid and lithium-ion rechargeable battery packs, and enhanced performance have allowed manufacturers to develop cordless electric mowers and other equipment for the growing preference for mobility. Cobra, EGO, and STIHL are some of the major vendors in the market that are constantly introducing new features in power lawn mowers, owing to the rise in gardening activities.
The growing adoption of green roofs in several countries, such as the US, UK, Germany, Japan, Canada, and Spain, has propelled the use of power lawn mowers as these roofs need high maintenance and care. Various types of plants and grass are grown on the roof of the
Outlook of the global vinyl records market
Technavio’s market research analyst predicts that the global vinyl records market will grow tremendously during the forecast period, registering an impressive CAGR of more than 55%. Vinyl records still stand as one of the fastest-selling and growing mediums of music, despite the acceptance of digital media. Vinyl records are not only witnessing sales for old classic recordings but are also gaining the attention of different new-generation artists. Major artists such as Adele and Justin Beiber have released their songs in the vinyl record format. Also, these records are regaining the importance of all the independent music and club communities. One of the most potent aspects of vinyl record is its ability to represent important events in pop music history and heritage, while still providing a sense of the cultural background. As a result, such records are reached out by collectors, audiophiles, and DJs, who consider these records as a priced possession.
The US is the largest revenue-contributing region in the vinyl records market and accounted for around 52% of the total market share during 2015. The end-consumers of vinyl records are mainly millennials which are more inclined towards music. About half of vinyl records buyers in the US are under 25 with men being the majority of the buyers in this category. Factors like unique sound quality and the nostalgia wave will fuel the sales of vinyl records in the coming years. Also, several top artists are launching vinyl music format along with the digital and CD format for their releases, which will boost the growth prospects for the market in the US during the forecast period.
Competitive landscape and key vendors
The global vinyl records market is highly concentrated due to the presence of few manufacturers in the
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