Tennis Equipment Market Expected to Reach US $ 8 Billion and ~ 3% CAGR over the Forecast Period (2021 – 2029) – Market Research Blog

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According to a market report published by Future Market Insights, the global sales value of tennis equipment is expected to reach US $ 8 billion in 2019. According to the report, the tennis equipment market is expected to increase at a CAGR of around 3% over the forecast period.

Racquets are expected to contribute to the highest revenue share in the global tennis equipment market in 2019. In recent years, the increasing number of women participating in sports activities such as tennis has complemented the growth of the global industry. of sports, potentially increasing the demand for sports equipment. The number of individual tennis equipment buyers is expected to increase at a rapid rate, due to the increasing participation of young people and cardio tennis players in recent years. Additionally, manufacturers are on a wave of innovation as lightweight racquets, such as the Head Graphene 360 ​​Radical Lite racquet, continue to gain significant pulls, allowing players to swing them faster and generate more topspin on the ball.

market value share of tennis equipment

For a sample copy of the visit report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8467

The independent sports store is estimated to be the main sales channel in the global tennis equipment market in 2019, due to the availability of high quality products at an affordable price, which affects the biggest competitors in the market. .

According to the IMF report, approval is one of the key strategies used by tennis equipment manufacturers to boost sales. Athlete-approved shoes and clothing are 60% more likely to be sold compared to unapproved ones. Consumers of tennis shoes and apparel are also influenced by the brand’s promotions made by their favorite stars.

In addition, various tennis equipment manufacturers have focused heavily on the distribution of equipment through online sales channels. It can obviously be seen that a majority of tennis shoe manufacturers, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capturing tennis shoe sales through online channels, such as websites. Official corporate and third party e-commerce webs. e-commerce sites.

South and East Asia remains an important market for tennis equipment

The growing influence of professional tennis among the Asian population offers a lucrative opportunity for players in the tennis equipment market in South and East Asia. In addition, factors such as the booming Chinese economy, development of sports infrastructure and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem. The deep interest of the government, as well as the private sector in sports activities such as tennis, has helped to strengthen the image of sport in developing countries. The transition from casual tennis to grassroots tennis is likely to contribute to substantial growth in the tennis equipment market. The rising trend of fitness among millennials in the Asia-Pacific region is expected to drive impressive growth in the tennis equipment market in 2019-2029.

The growing awareness of protecting our environment and the preference for natural products should foster the growth of biodegradable and environmentally friendly tennis products. People prefer natural gut tennis strings as a more environmentally friendly option. These ropes are made from recycled plastics or alternative materials. The raw material used in natural gut ropes is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Besides, people prefer sportswear made from recycled or sustainable materials which creates huge opportunity for the growth of the global tennis equipment market during the forecast period.

For more details, ask analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-8467

FMI Business Intelligence also highlights important insights into the competitive scenario of the tennis equipment market as well as the differential strategies of manufacturers. The major players in the tennis equipment market are focused on developing new products and improving efficiency to gain brand penetration and retain consumers. For example, in 2018, Amer Sports Corporation’s Wilson brand launched the Iconic John Wooden sneaker. It features a revolutionary and lightweight polyurethane sole. This launch aimed to expand the company’s product portfolio. According to the IMF report, companies are also continuously increasing awareness of their products in the market by showcasing them at various events with the aim of increasing sales as well as brand penetration in the tennis equipment market.

Key segment

Product

  • Snowshoes
  • Balls
  • Clothes
  • Shoe
  • Bale machines
  • Tennis bags
  • Other accessories (ropes, net, bracelets, headband, handles, towels, brackets, etc.)

Equipment

  • Composite materials
  • Metallic
  • Other materials

Buyer

  • Individual
    • Beginner
    • Intermediate
    • Advanced
  • Institutional

Sales channel

  • Independent sports shop
  • Sports store chain
  • Franchised sports store
  • Direct to customer online channel
  • Institutional channel direct to the client
  • Modern commercial channels
  • Third-party online channel

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa


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