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Global Tennis Racquet Market to Generate Nearly USD 526 Million by 2020, Says Technavio
[February 03, 2016]

Global Tennis Racquet Market to Generate Nearly USD 526 Million by 2020, Says Technavio


The global tennis racquet market is set to grow at a CAGR of 2.32% according to Technavio's latest report.

In this report, Technavio covers the market outlook and growth prospects of the global tennis racquet market for 2016-2020. To calculate market size, the report has taken into consideration the sales revenue of different types of tennis rackets.

Technavio's research study segments the global tennis racquet market into the following regions:

  • APAC
  • The Americas
  • Europe
  • Rest of World

Global tennis racquet market by geography

"The Americas dominated the global tennis racket market in 2015, accounting for a share of 49.2%. The region is expected to continue leading the market during the forecast period, with an estimated 51.21% market share in 2020. An increased awareness of a healthy lifestyle and the huge popularity of tennis in the region are expected to be the prime reasons for the region leading the market over the next five years," said Vijay Sirathi, one of Technavio's lead retail goods and services research analysts.

Europe, which held the second-highest position in the market with 25.3% market share in 2015, is expected to slightly lose some of its share, falling to a 24.97% market share in 2020. This stability in Europe's market share is directly attributed to the fact that majority of the most popular tennis players belong to this region and the popularity of the game.

APAC, which is the most developing region of all the given geographic segments, held 18.75% of the market share in 2015. This market share is expected to reach 17.64% by 2020. MEA (Middle East and Africa) accounted for 6.75% of the market share in 2015, and is expected to reach 6.18% by 2020.

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Key leading countries

US

The US is one of the most prominent countries in the global tennis racket market and is expected to continue to be so during the forecast peiod as well. The major driver of the market in the region is the increasing popularity of the game and the rising number of players. According to the Tennis Industry Association (TIA (News - Alert)), the number of tennis participants in the country rose by 1% from 2013 to 2014. There was a 4% rise in the number of participants in the age group of 6-12 years, and a 9% increase in the number of participants in the age group of 13-18 years. However, a major challenge that can restrict market growth in the region is that 35% of these participants quit the game after a point of time. Product innovations, like the Wilson Pro Staff racket series, which allow players to improve performance, are expected to exert a positive impact on demand in the market.



UK

The UK is one of the most active nations in terms of number of participations in the sport. The country has quite a few successful players, including Andy Murray and Heather Watson, both of whom have motivated budding players in the region. The country's racquet sales grew by over 10% between 2012 and 2013, proving that the market shows great potential for growth during the forecast period. However, high training costs associated with the game have significantly hindered the growth of the market, with the number of young players participating in the game seeing considerable reduction.


France

7.1% of the French population participates in tennis activities, i.e. 3.09 million people are core tennis players and play the game 12 or more times every year. The region's affinity toward the game also stems from the popularity of local players like Jo-Wilfred Tsonga, who currently is one of the top players in the world.

Germany

With few players from Germany acquiring celebrity status in the last few years, the popularity of tennis has gone down considerably in the country. However, people are increasingly taking up the sport as a form of exercise and this will likely result in demand for tennis equipment during the forecast period. The introduction of high quality racquets made of carbon fiber will also contribute to growth of the market. The German Open Tennis Championship is also playing a significant role in garnering popularity for the game in the country.

Australia

Australia is home to one of the most popular tennis championships globally, the Australian Open Grand Slam. With the advent of modified tennis we expect more number of players to take to the game during the forecast period. Modified tennis uses techniques and methods that help young tennis players to adapt faster to the game from a young age. Another driver of the tennis racquet market in Australia is the advent of cardio tennis. Cardio tennis combines tennis with cardiovascular exercises, gaining the interest of people who want to take up the sport as a form of exercise.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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