Enjoy complimentary customisation on priority with our Enterprise License!
The report offers extensive research analysis on the Tennis Equipment Market, with a categorization based on Distribution Channel including offline and online. Product Type include tennis balls, tennis racquets, tennis strings, equipment bag, and others. Additionally, the report provides geographical segmentation, covering North America, APAC, Europe, South America, and Middle East and Africa. Market size, historical data for 2018-2022, and future projections are presented in terms of value (in USD million) for all the mentioned segments. It also includes an in-depth analysis of drivers that increase the number of tennis courts globally.
To learn more about this report, View Sample PDF
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 Tennis Equipment Market. One of the major companies in the market include:
Adidas AG: The company offers tennis equipment 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.
Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in the number of tennis courts globally is the key factor driving market growth. The popularity of tennis has seen a dramatic increase in recent years, with a wide range of ages and demographics participating in the sport. The most recent figures indicate that the number of international tennis courts has been steadily increasing. Tennis courts are an important component of the sport, providing a platform for players to train, compete, and enjoy the game.
In addition, governments across the globe are recognizing the numerous advantages that tennis provides to local communities, including physical fitness, socialization, and the potential to generate economic activity through tournament and tennis-related activities. As a result, many nations are investing in the development and upkeep of tennis courts to accommodate the increasing number of players. Thus, such factors will drive the growth of the market during the forecast period.
Growing focus on sustainability is the primary trend shaping market growth. This trend is being driven by a growing demand for tennis rackets that are sustainably produced. To meet this need, manufacturers are increasingly seeking to minimize the environmental footprint of their manufacturing operations, such as the use of recycled materials or the implementation of more efficient production methods. Not only does this help to reduce waste, but it also helps to conserve natural resources.
Moreover, the use of recycled materials for tennis balls has become increasingly popular, which can help to reduce the number of tennis balls that are disposed of in landfills annually. By using recycled materials, manufacturers can produce tennis balls that are both aesthetically pleasing and environmentally friendly. Thus, such factors will drive the growth of the global tennis equipment market during the forecast period.
The increasing popularity of e-sports is a challenge that affects market growth. 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.
Get a detailed analysis of drivers, trends, and challenges Request Free PDF Sample !
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.
To gain further insights on the market contribution of various segments Request a PDF Sample
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 tennis equipment 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 tennis equipment market during the forecast period.
Based on product type, the Tennis Equipment Market is segmented into tennis balls, tennis racquets, tennis strings, equipment bags, and others.
APAC is estimated to contribute 35% during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
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 for tennis, 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.
|
Tennis Equipment 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 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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
