What is the global market size of Tennis Racquet Market?

Global Tennis Racquet Market size was valued at USD 485.53 million in 2021 and is poised to grow from USD 528.26 million in 2022 to USD 1128.51 million by 2030, growing at a CAGR of 8.8% in the forecast period (2023-2030).

Global Tennis Racquet Market Size, Share, Growth Analysis, By Material(Carbon Fibres, Aluminium), By End User(Adults, Kids), By Distribution Channel(Supermarkets, Hypermarkets), By Product Type(Power Racquets, Control Racquets), By String Pattern(Open String Pattern, Tight or Closed String Pattern), By Head Size(Midsize, Mid Plus) - Industry Forecast 2024-2031

Report ID: SQSG25J2011 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 171 | Figures: 79

Global Tennis Racquet Market Dynamics

Tennis Racquet Market Driver

With the increasing awareness regarding the benefits of sports across the globe the global tennis racquet market is expected to grow during the forecast period.
In the middle class family, improving standard of living and availability of higher disposable income are estimated to be factors fueling the growth of market
In developed countries including the U.S., Germany, France, tennis is gaining popularity recently as a sport for better fitness which is expected to surge the demand for tennis racquet.
Government and sports association are supporting the growth of sports participation with special concentration on tennis. This is projected to increase demand for tennis racquets.

Tennis Racquet Market Restraint

High cost associated with premium grade of tennis racquets will pose as a major obstacles for the global tennis racquet market growth.
Availability of counterfeit products in the local market can further restrain the market growth. Fluctuations in the prices of raw material used to manufacture tennis racquet can also hamper market growth.

Global Tennis Racquet Market Report Snapshots

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Global Tennis Racquet Market size was valued at USD 485.53 million in 2019 and is poised to grow from USD 528.26 million in 2023 to USD 1128.51 million by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

The global tennis racquet market is fragmented with major players accounting for 40% of the global revenue share. Due of increasing brand preferences top companies are deploying various strategies to increase their brand presence in various geographical regions. Major companies include Wilson Sporting Goods, YONEX Co., Ltd., Babolat, Mizuno USA., Dunlop Sports, ASI LLC, ProKennex, SportsDirect.com Retail Ltd., ABG-PRINCE OPCO, LLC, Solinco, Amer Sports, Authentic Brands Group LLC., among other domestic and global players. These players collaborate with professional players for endorsing their product and sponsor tennis competitions to increase their market presence. 'Wilson Sporting Goods Co.', 'Babolat VS S.A.', 'HEAD Sport GmbH', 'Yonex Co., Ltd.', 'Dunlop Sports Group Americas Inc.', 'Prince Global Sports, LLC', 'Tecnifibre', 'ASICS Corporation', 'Volkl Sports Holdings Corp.', 'Pacific Racket Sports, Inc.', 'Gamma Sports', 'ProKennex Sports, Inc.', 'Solinco', 'Harrow Sports, Inc.', 'One Strings SRL', 'Slazenger International Limited', 'Donnay International S.A.', 'Black Knight International', 'Karakal International Ltd.', 'Dunlop International (Asia) Ltd.'

With the increasing awareness regarding the benefits of sports across the globe the global tennis racquet market is expected to grow during the forecast period.

Tennis racquet where made of wood previously but nowadays carbon composites are used to make racquet because they distribute weight more precisely in the racquet. Thus, the racquets are lightweight and more balanced and are useful for different swing styles.

North America dominated the global tennis racquet market in 2021. It is expected to grow at a CAGR of 1.9% during the forecast period. This can be attributed to the increasing participation of youth population in tennis tournaments. The US is the major market in this region and the biggest sports nation having diverse infrastructure and facilities for sports. The overall sports participation especially younger population has increased in the US which has increased the overall unit sales of racquets in this region significantly. Increasing awareness regarding fitness among all age ranges associated with playing tennis is also one of the factors contributing to the increasing demand for tennis racquet in the region.

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Global Tennis Racquet Market Dynamics

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