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The global tennis equipment market size is estimated to grow by USD 211.08 million between 2023 and 2028. The market is accelerating at a compound annual growth rate of 2.21%. The Sports Equipment Market experiences significant growth driven by the surge in tennis court construction worldwide. This expansion reflects the sport's increasing popularity across diverse demographics, serving as vital venues for training and competitions. Governments recognize tennis's benefits, investing in court facilities to cater to growing enthusiasts.
Concurrently, the market sees a trend towards sustainability, with manufacturers focusing on eco-friendly tennis gear production, utilizing recycled materials and efficient methods. This aligns with the growing demand for environmentally conscious sports equipment. Such initiatives are anticipated to propel market growth and forecast projections during the foreseeable period.
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The offline segment is estimated to witness significant growth during the forecast period. The segment includes mono-brand stores, department stores, hypermarkets, supermarkets, and specialty stores. Monobrand stores are standalone retail outlets that provide a wide range of products manufactured under the same brand. Tesco Plc (Tesco), Walmart Inc. (Walmart), and Target Corp. (Target) are some of the largest retail chains that have a separate retailing segment for tennis-equipment and accessories.
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The offline segment was the largest segment and was valued at USD 1,195.82 million in 2018. With a variety of products and brands to choose from on online platforms, the sales of these products in retail stores have diminished. However, the market for this in retail outlets will continue to grow owing to the product information provided by store owners. This helps in retaining existing customers, as well as attracting potential new customers, which will drive the growth of the offline segment of the global market during the forecast period.
Based on product type, the market is segmented into tennis-balls, racquets, strings, equipment bags, and others.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. One of the major companies in the market include:
Adidas AG: The company offers products such as Tennis Low-Cut Cushioned Socks, Tennis-Wristband Small, Aeroready Visor.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
ANTA Sports Products Ltd., ASICS Corp., Authentic Brands Group LLC, Babolat, Beiersdorf AG, Bosworth-Tennis, Decathlon SA, Dunlop Sports, Fila Holdings Corp., Gamma Sports, Harrow Sports, KC Kinetic Solutions LLC, Lacoste, New Balance Athletics Inc., Nike Inc., PUMA SE, Solinco Sports, Yonex Co. Ltd., and Frasers Group plc
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Sporting Goods market sees significant growth driven by the rise in tennis court construction worldwide. This surge reflects the sport's increasing popularity, attracting diverse participants and prompting investments in court maintenance. Concurrently, there's a growing focus on sustainability in tennis gear production, with manufacturers adopting eco-friendly practices to meet demand for professional gear.
However, the market faces challenges from the increasing popularity of e-sports, impacting participation rates in outdoor sports. E-sports' technological advancements and mobile gaming's high growth rate affect market research and growth, highlighting the need for adaptation in the sporting goods industry.
This racquet sports market witnesses significant expansion driven by the global surge in tennis court construction. Tennis's rising popularity across diverse demographics prompts investments in court maintenance to cater to enthusiasts. Governments recognize tennis's benefits, investing in clubs and coaching programs for local communities. This, coupled with the increasing demand for amateur gear, training aids, and apparel brands, fuels market growth.
Additionally, the proliferation of e-commerce platforms, retailers, and distributors facilitates access to tennis equipment worldwide. These factors contribute to the market's forecasted projections and exploration of new opportunities in the foreseeable future.
The Sports Equipment Market experiences a significant shift towards sustainability, driven by the demand for eco-friendly racquets and balls. Manufacturers aim to minimize environmental impact by adopting recycled materials and efficient production methods. This approach not only reduces waste but also conserves natural resources.
Additionally, the use of recycled materials in tennis balls gains popularity, reducing landfill waste. Manufacturers produce aesthetically pleasing and environmentally friendly gear to meet consumer preferences. These initiatives are poised to drive growth in the global sporting goods market during the forecast period.
The increasing popularity of e-sports is a challenge that affects market growth analysis. Professional gamers are paid substantial prize money, which is an attractive factor encouraging their participation in e-sports. E-sports gamers in the US have been given the same visa as professional athletes while representing their country in tournaments abroad. Moreover, with the e-sports market seeing advances in technology and the changing preferences in the genres of games, the market is expected to grow at a considerable rate in the coming years.
Furthermore, the global penetration of smartphones as a gaming platform is relatively high compared to other gaming platforms. These factors have had a huge influence on the market, but one of the major factors contributing to the high growth of mobile gaming is its business model. Thus, such factors will affect the participation rates of individuals in outdoor sports and impede the growth of the market during the forecast period.
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The market offers a wide range of gear and Tennis Accessories for tennis enthusiasts of all levels. Essential items include tennis rackets, tennis balls, and specialized tennis apparel designed for optimal performance and comfort on the court. Players also rely on tennis shoes engineered to provide stability and traction during matches, along with tennis bags to carry their equipment conveniently. Tennis strings and grips are crucial for customizing racket performance to individual preferences.
Additional Tennis Court Equipment such as tennis nets and court equipment ensure that playing conditions are up to standard. For training purposes, Tennis Ball Machines and ball machines offer valuable practice opportunities. Renowned Tennis Equipment Manufacturers, along with equipment manufacturers and Tennis Equipment Suppliers, contribute to the diversity and innovation of the market.
APAC is estimated to contribute 35% during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. A key factor is the rising number of regular players in the US and Canada for recreational purposes. While the US is the leading country within the region, other key countries in the region include Mexico and Canada. The major tournaments of squash in this region include the US Open Squash Championships and the North American Open, which record substantial participation every year. The rising number of frequent or regular players and the increase in the demand for tennis-equipment, especially among the younger generation, are also expected to propel the growth of the market in North America during the forecast period.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.21% |
Market Growth 2024-2028 |
USD 211.08 million |
Market structure |
Fragmented |
YoY growth (%) |
1.85 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
Key consumer countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Adidas AG, ANTA Sports Products Ltd., ASICS Corp., Authentic Brands Group LLC, Babolat, Beiersdorf AG, Bosworth-Tennis, Decathlon SA, Dunlop Sports, Fila Holdings Corp., Gamma Sports, Harrow Sports, KC Kinetic Solutions LLC, Lacoste, New Balance Athletics Inc., Nike Inc., PUMA SE, Solinco Sports, Yonex Co. Ltd., and Frasers Group plc |
Market dynamics |
Parent market analysis, market growth and forecasting, inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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