Published by maria gbaf
Posted on January 28, 2022
According to a market report published by Future Market Insights, the global sales value of tennis equipment is likely to reach US$ 9 Bn in 2022. According to the report, the tennis equipment market is projected to expand at a CAGR of ~2.9% during the forecast period.
Racquets are expected to contribute the highest revenue share in the global tennis equipment market in 2022. In recent years, increasing number of women participation in sports activities such as tennis has been complementing the growth of the global sports industry, thereby potentially raising the demand for sports equipment.
The number of individual buyers of tennis equipment are likely to increase at rapid pace, owing to growing participation of young and cardio tennis players over the past few years. Additionally, manufacturers are on an innovation spree, as lightweight racquets, such as Head Graphene 360 Radical Lite racket, continue to gain significant tractions, enabling players to swing them faster and generate more topspin on the ball.
Independent sports outlet is estimated to be the leading sales channel in the global tennis equipment market in 2022, due to availability of high quality products at affordable price which is affecting larger competitors in the market.
According to FMI’s report, endorsement is one of the key strategies used by tennis equipment manufacturers to drive their sales. Shoes and apparels endorsed by athletes are 60% more likely to get sold as compared to those without any endorsement. Tennis shoes and apparels consumers are also being influenced by brand promotions done by their favorite stars.
Additionally, various manufactures of tennis equipment have shifted their concentration heavily upon the distribution of equipment through online sales channels. It could be evidently seen that a majority of tennis shoe manufactures, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capture sales of tennis shoes through online channels, such as company’s official e-commerce websites and third-party e-commerce websites.
Get a Free Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-8467
South & East Asia Remains Prominent Market for Tennis Equipment
Growing influence of professional tennis among the Asian population is offering a lucrative opportunity for tennis equipment market players in South & East Asia. Additionally, factors such as booming Chinese economy, development of sports infrastructure, and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem.
Profound interest of government as well as private sector in sports activities such as tennis has helped to strengthen the image of sports within the developing countries. Transition of casual to core tennis participation is likely to contribute substantial growth to the tennis equipment market. The increasing fitness trend among millennials in the Asia Pacific region is expected to provide an impressive growth to the tennis equipment market during 2022-2029.
Rising awareness about protecting our environment and the preference for natural products is expected to promote the growth of biodegradable and eco-friendly tennis products. People are preferring natural gut tennis strings, as a more eco-friendly option. These strings are made from recycled synthetics or alternative materials. The raw material used in natural gut strings is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Furthermore, people are preferring athletic clothing made from recycled or sustainable materials which is creating a massive opportunity for the growth of the global tennis equipment market during the forecast period.
FMI’s business intelligence also highlights significant insights into the competitive scenario of the tennis equipment market along with manufacturers’ differential strategies. Key players in the tennis equipment market are focusing on new product development and efficiency enhancement to gain brand penetration and loyalty among consumers.
For example, in 2018, Amer Sports Corporation’s brand Wilson launched the Iconic John Wooden sneaker. It features a revolutionary polyurethane sole that is lightweight. This launch was aimed at expanding the company’s product portfolio. According to FMI’s report, companies are also continuously expanding awareness about their products in the market by showcasing them at various events with the objective to increase sales as well as brand penetration in the tennis equipment market.
This study underlines key opportunities in the tennis equipment market and finds that the market is projected to exhibit growth at a value CAGR of ~3% during the forecast period.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-8467
Competitive Landscape
Tennis equipment manufacturers are focusing on signing brand endorsements with sportspersons holding huge fan-following. Tennis equipment companies are also investing in the research & development of eco-friendly tennis training equipment.
Key Companies Profiled
Amer Sports Corporation, Head N.V., Dunlop Sports Co. Ltd., Tecnifibre, Oliver Sports & Squash GmbH, Harrow Sports Inc., Babolat, Yonex Co. Ltd., Adidas AG, Gamma Sports, Prince Global Sports LLC, ProKennex, One Strings, Solinco, Nike Inc., Playmate Ball Machines, Volkl Int. GmbH, and others
Key Segments of Tennis Equipment Industry Survey
Tennis Equipment Market by Product Type:
Tennis Equipment Market by Material:
Tennis Equipment Market by Buyer:
Tennis Equipment Market by Sales Channel:
Get Customization in the Report, Enquire Now @ https://www.futuremarketinsights.com/customization-available/rep-gb-8467
Explore FMI’s Extensive Coverage on Consumer Product Domain
Shoe Insert Market: The Shoe Insert Market will record a CAGR of above 5% between 2020 and 2030
Burn Care Market: Burn care Market Revenues to grow at 8.1% CAGR through 2030
Survival Tools Market: Global sales of survival tools are likely to soar at 7.4% CAGR through 2030. Growth will be driven by a growing sentiment on self-protection amidst a rapidly changing environment
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/tennis-equipment-market
Press Release Source: https://www.futuremarketinsights.com/press-release/tennis-equipment-market
According to a market report published by Future Market Insights, the global sales value of tennis equipment is likely to reach US$ 9 Bn in 2022. According to the report, the tennis equipment market is projected to expand at a CAGR of ~2.9% during the forecast period.
Racquets are expected to contribute the highest revenue share in the global tennis equipment market in 2022. In recent years, increasing number of women participation in sports activities such as tennis has been complementing the growth of the global sports industry, thereby potentially raising the demand for sports equipment.
The number of individual buyers of tennis equipment are likely to increase at rapid pace, owing to growing participation of young and cardio tennis players over the past few years. Additionally, manufacturers are on an innovation spree, as lightweight racquets, such as Head Graphene 360 Radical Lite racket, continue to gain significant tractions, enabling players to swing them faster and generate more topspin on the ball.
Independent sports outlet is estimated to be the leading sales channel in the global tennis equipment market in 2022, due to availability of high quality products at affordable price which is affecting larger competitors in the market.
According to FMI’s report, endorsement is one of the key strategies used by tennis equipment manufacturers to drive their sales. Shoes and apparels endorsed by athletes are 60% more likely to get sold as compared to those without any endorsement. Tennis shoes and apparels consumers are also being influenced by brand promotions done by their favorite stars.
Additionally, various manufactures of tennis equipment have shifted their concentration heavily upon the distribution of equipment through online sales channels. It could be evidently seen that a majority of tennis shoe manufactures, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capture sales of tennis shoes through online channels, such as company’s official e-commerce websites and third-party e-commerce websites.
Get a Free Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-8467
South & East Asia Remains Prominent Market for Tennis Equipment
Growing influence of professional tennis among the Asian population is offering a lucrative opportunity for tennis equipment market players in South & East Asia. Additionally, factors such as booming Chinese economy, development of sports infrastructure, and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem.
Profound interest of government as well as private sector in sports activities such as tennis has helped to strengthen the image of sports within the developing countries. Transition of casual to core tennis participation is likely to contribute substantial growth to the tennis equipment market. The increasing fitness trend among millennials in the Asia Pacific region is expected to provide an impressive growth to the tennis equipment market during 2022-2029.
Rising awareness about protecting our environment and the preference for natural products is expected to promote the growth of biodegradable and eco-friendly tennis products. People are preferring natural gut tennis strings, as a more eco-friendly option. These strings are made from recycled synthetics or alternative materials. The raw material used in natural gut strings is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Furthermore, people are preferring athletic clothing made from recycled or sustainable materials which is creating a massive opportunity for the growth of the global tennis equipment market during the forecast period.
FMI’s business intelligence also highlights significant insights into the competitive scenario of the tennis equipment market along with manufacturers’ differential strategies. Key players in the tennis equipment market are focusing on new product development and efficiency enhancement to gain brand penetration and loyalty among consumers.
For example, in 2018, Amer Sports Corporation’s brand Wilson launched the Iconic John Wooden sneaker. It features a revolutionary polyurethane sole that is lightweight. This launch was aimed at expanding the company’s product portfolio. According to FMI’s report, companies are also continuously expanding awareness about their products in the market by showcasing them at various events with the objective to increase sales as well as brand penetration in the tennis equipment market.
This study underlines key opportunities in the tennis equipment market and finds that the market is projected to exhibit growth at a value CAGR of ~3% during the forecast period.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-8467
Competitive Landscape
Tennis equipment manufacturers are focusing on signing brand endorsements with sportspersons holding huge fan-following. Tennis equipment companies are also investing in the research & development of eco-friendly tennis training equipment.
Key Companies Profiled
Amer Sports Corporation, Head N.V., Dunlop Sports Co. Ltd., Tecnifibre, Oliver Sports & Squash GmbH, Harrow Sports Inc., Babolat, Yonex Co. Ltd., Adidas AG, Gamma Sports, Prince Global Sports LLC, ProKennex, One Strings, Solinco, Nike Inc., Playmate Ball Machines, Volkl Int. GmbH, and others
Key Segments of Tennis Equipment Industry Survey
Tennis Equipment Market by Product Type:
Tennis Equipment Market by Material:
Tennis Equipment Market by Buyer:
Tennis Equipment Market by Sales Channel:
Get Customization in the Report, Enquire Now @ https://www.futuremarketinsights.com/customization-available/rep-gb-8467
Explore FMI’s Extensive Coverage on Consumer Product Domain
Shoe Insert Market: The Shoe Insert Market will record a CAGR of above 5% between 2020 and 2030
Burn Care Market: Burn care Market Revenues to grow at 8.1% CAGR through 2030
Survival Tools Market: Global sales of survival tools are likely to soar at 7.4% CAGR through 2030. Growth will be driven by a growing sentiment on self-protection amidst a rapidly changing environment
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/tennis-equipment-market
Press Release Source: https://www.futuremarketinsights.com/press-release/tennis-equipment-market
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