NEW YORK, May 3, 2024 /PRNewswire/ — The global tennis equipment market size is estimated to grow by USD 211.08 million from 2024 to 2028, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 2.21% during the forecast period.
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Key Trends Fueling Growth
- Growing focus on sustainability:
- The tennis equipment market is witnessing a rise in eco-friendly practices, reflecting shifting consumer preferences. Manufacturers are focusing on reducing their environmental impact by using recycled materials and improving production methods. This not only cuts down on waste but also preserves natural resources.
- Popular initiatives include using recycled materials for tennis balls, reducing landfill waste. Brands are also introducing programs to recycle old equipment, promoting a circular economy. These efforts are expected to fuel market growth in the coming years.
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Major Challenges:
- Increasing popularity of e-sports
- The popularity of e-sports is on the rise, expected to grow further in the future. Professional gamers earn substantial prize money, attracting more participants. In the US, e-sports gamers are treated like professional athletes when representing their country overseas.
- The market is evolving with technological advances and changing game preferences. From MMOG to RTS, FPS, and MOBA gaming, the industry is diversifying. Mobile gaming, particularly, is booming due to its flexible business model. Revenue can come from game sales or in-app purchases.
- Major vendors like King, Supercell, and Zynga are focusing on development and marketing to reach wider audiences. These trends may impact participation in outdoor sports, potentially limiting growth in the tennis equipment market.
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Analyst Review
The tennis equipment market is thriving with an array of products catering to diverse playing styles and fitness-conscious enthusiasts. Product promotions through e-commerce portals ensure wide accessibility, while collaborations with Tennis Associations bolster grassroots participation.
Innovations in racket technologies incorporate nanomaterials for durability and aerodynamics, enhancing gameplay for players at all levels. With a focus on health awareness, advancements in sports science drive cognitive training and physical conditioning, fostering mental agility and strategic prowess on the court.
From sensory immersion with sound-modulating equipment to sustainable initiatives promoting ethical sourcing, the market reflects a tennis renaissance, emphasizing inclusivity and cultural diversity within diverse communities of tennis enthusiasts.
Market Overview
In the growing tennis equipment market, the demand for sporting goods is on the rise, fueled by the athleisure trend. To alleviate strain on players, multisensory cues like scented overgrips are incorporated to enhance the player’s tactile experience.
Manufacturers focus on ball impact and aeroacoustics to improve performance. Tournaments drive the need for player analytics, prompting the development of advanced materials and customized designs. With players seeking competitive edge, the market is dynamic and responsive to evolving trends.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Distribution Channel
- Offline
- Online
- Product Type
- Tennis Balls
- Tennis Racquets
- Tennis Strings
- Equipment Bag
- Others
- Geography
- North America
- APAC
- Europe
- South America
- Middle East And Africa
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
