Squash Equipment Market by Distribution Channel, Product, and Geography - Forecast and Analysis 2022-2026

The squash equipment market share is expected to increase by USD 75.2 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.14%.

This research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers  market segmentation by distribution channel (online and offline), product (squash rackets, squash balls, squash shoes, and others), and geography (Europe, North America, APAC, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including ABG Prince LLC, Amer Sports Corp., Ashaway Line, Twine Mfg Co, ASICS Corp., Authentic Brands Group LLC, Black Knight, Decathlon SA, Dunlop International Europe Ltd, Eye Rackets International BV, Freewill Infrastructures Pvt. Ltd, Grays of Cambridge Ltd, Harrow Sports, HEAD Sport GmbH, Karakal Worldwide Ltd, Maus Freres SA, OLIVER Sport and Squash GmbH, Prokennex, Salming Sports AB, Solinco Sports, and Spinway International Pvt Ltd among others.

What will the Squash Equipment Market Size be During the Forecast Period?

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Squash Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The introduction of various national and international leagues is notably driving the market growth, although factors such as fluctuations in the cost of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the squash equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Squash Equipment Market Driver

The introduction of various national and international leagues is one of the key drivers supporting the advanced authentication market growth. The number of squash tournaments held across the world has increased significantly, with participation rates of regular players rising in the last couple of years. Squash associations such as the PSA, along with many country-specific associations, are introducing various national and international leagues. These associations are also spending more to support basic-level squash tournaments to encourage higher participation. The increase in competition and tournament numbers is directly proportional to the rise in demand for squash equipment, as also frequent replacements of old rackets with new ones, which is propelling the growth of the market. The PSA organizes more than 200 squash tournaments across the world every year and has over 900 registered players under its aegis. Apart from standard squash competitions such as the World Squash Championships and the China Squash Challenge Cup, numerous squash competitions and tournaments are being held on a worldwide scale. The market can avail of greater opportunities from such developments, while consumer interest in the sport also gets stimulated. Some of the popular squash tournaments include the WSF World Cup and WSF World Championship. Therefore, the presence of these national and international leagues will drive market growth during the forecast period.

Key Squash Equipment Market Trend

The use of eco-friendly raw materials is one of the key advanced authentication market trends. The use of eco-friendly raw materials in the market is trending, which is a positive sign. Consumers have become more responsible and aware of how their consumption habits affect the environment. Therefore, the market is seeing a growing demand for eco-friendly squash equipment such as balls, rackets, strings, and other paraphernalia associated with the game. Water-based adhesives and organic and recycled plastic materials are replacing synthetic rubber, traditional leather, nylon, polyurethane, and other synthetic materials in the production of squash equipment. Furthermore, newly developed and advanced non-toxic materials such as thermoplastic elastomer are increasingly used by key vendors to manufacture eco-friendly equipment for the game. Many squash associations and federations have also stepped forward to project themselves as eco-operators (organizations involved in environment improvement). For instance, Finland-based Amer Sports makes rackets using 15%-20% lesser chemicals than traditional rackets. The company is moving a step forward by manufacturing 30% of all its squash balls with recyclable materials. Hence, the increasing use of eco-friendly raw materials by manufacturers will likely help the growth of the market during the forecast period.

Key Squash Equipment Market Challenge

Fluctuations in the cost of raw materials are one of the factors hindering the advanced authentication market growth. Increasing variations and the rising cost of raw materials due to existing trade policies of different countries increase the import and export costs of raw materials. Due to an increase in oil and gas prices owing to the Russia-Ukraine war, the prices of many raw materials have increased. For instance, raw butyl rubber used to make squash rubber requires natural rubber; petroleum-based synthetic rubber prices increase when crude oil prices increase. Similarly, squash rackets are made of aluminum; aluminum prices witnessed a sharp increase of 18% in March 2022 compared with the end of January 2022 due to the Russia-Ukraine war. The contribution of Russia to the global trade of aluminum is about 12%, with exports mainly from Europe. Therefore, higher raw material costs are operational impediments for manufacturers as they have a spillover effect throughout the network of distribution channels, with the brunt being borne by end consumers. Rises in raw material prices have an adverse impact on the production costs of squash equipment, which go on to affect the pricing strategy of marketers. Differentiation in raw materials used to make squash equipment, especially premium squash products, also negatively affects the earnings, operating margins, and cash flow of leading vendors as their profit margins get eaten away. These factors can restrict the flow of investments in other productive activities or marketing and promotional campaigns, thereby challenging the prospects of vendors operating in the market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the market as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the  market during the forecast period.

Who are the Major Squash Equipment Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• ABG Prince LLC
• Amer Sports Corp.
• Ashaway Line and Twine Mfg Co
• ASICS Corp.
• Authentic Brands Group LLC
• Black Knight
• Decathlon SA
• Dunlop International Europe Ltd
• Eye Rackets International BV
• Freewill Infrastructures Pvt. Ltd
• Grays of Cambridge Ltd
• Harrow Sports
• HEAD Sport GmbH
• Karakal Worldwide Ltd
• Maus Freres SA
• OLIVER Sport and Squash GmbH
• Prokennex
• Salming Sports AB
• Solinco Sports
• Spinway International Pvt Ltd

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Amer Sports Corp. - The company offers squash equipment such as racquets, eyewear, apparel, shoes, and other accessories. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Themarket forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Squash Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Squash Equipment Market?

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43% of the market’s growth will originate from Europe during the forecast period. The UK, Germany, and France are the key markets for market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

Innovations in squash equipment and string technology by key competitors in Europe are enabling players to improve their performance which will further facilitate the market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 had a negative impact on the growth of the market in Europe. The pandemic severely disrupted the growth of the equipment market as offline distribution channels were closed during the lockdown, lowering the sales of squash equipment in the region. Vendors were mostly focusing on promoting online sales, especially through brand-owned e-commerce portals, in their home countries, and giving discounts on prominent squash equipment, such as rackets and balls in 2020-2021. Vendors are continuously working to reduce supply chain challenges and reduce manufacturing delays. For instance, Amer Sports Oyj (Amer Sports) is continuously engaging with its key suppliers to understand their financial viability and providing its utmost support to maintain its business operations and liquidity. Such factors are anticipated to help the market recover in Europe during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Squash Equipment Market?

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The market share growth in the offline segment will be significant during the forecast period. The segment comprises mono-brand stores, department stores, hypermarkets, supermarkets, and specialty stores. Monobrand stores are retail stores owned by product manufacturing companies. These are standalone retail outlets that provide a wide range of products manufactured under the same brand. The distribution of squash equipment through mono-brand stores is increasing, as the rich look and feel of these stores tend to attract many customers. Vendors are focusing on opening new stores to increase their reach and sustain in the competitive environment. 

The global market is adversely affected by the recent outbreak of COVID-19. Since mid-February 2020, the outbreak of the pandemic has had a negative impact on product demand, customer behavior, logistics services, and the availability of essential and non-essential products at retail stores and factories. Hence, offline retailers of sports equipment, including squash equipment, will remain severely affected till the pandemic is controlled. Vendors were incurring additional costs as they were facing challenges in terms of shipping and maintaining squash equipment stocks. This impacted the geographical presence of vendors, as the supply of end-products has declined at retail stores across borders. To overcome this challenge, vendors are offering free shipping or supplementing partial shipping costs for delivering at offline stores in countries or areas that have witnessed negligible or no cases of COVID-19. This strategy helps vendors clear their squash equipment stock from their warehouses. Offline sale has also recovered due to the reopening of retail stores and reduced transmission of COVID-19 due to vaccine distributions. Such factors will drive the growth of the offline segment during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the  market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Squash Equipment Market Scope
Report Coverage	Details
Page number	150
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 2.14%
Market growth 2022-2026	$ 75.2 billion
Market structure	Fragmented
YoY growth (%)	1.67
Regional analysis	Europe, North America, APAC, South America, Middle East, and Africa
Performing market contribution	Europe at 43%
Key consumer countries	US, China, UK, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	ABG Prince LLC, Amer Sports Corp., Ashaway Line, and Twine Mfg Co, ASICS Corp., Authentic Brands Group LLC, Black Knight, Decathlon SA, Dunlop International Europe Ltd, Eye Rackets International BV, Freewill Infrastructures Pvt. Ltd, Grays of Cambridge Ltd, Harrow Sports, HEAD Sport GmbH, Karakal Worldwide Ltd, Maus Freres SA, OLIVER Sport and Squash GmbH, Prokennex, Salming Sports AB, Solinco Sports, and Spinway International Pvt Ltd
Market dynamics	Parent market analysis, Market growth 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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What are the Key Data Covered in this Squash Equipment Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the  market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the squash equipment industry across Europe, North America, APAC, South America, and the Middle East, and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of  market vendors

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