Tennis Racquet Market Size, Share & Trends Analysis Report By Product Type (Tweener Racquets, Power Racquets, Control Racquets), By Raw Material (Carbon Fiber, Aluminum, Others), By String Pattern (Open String Pattern, Tight or Closed String Pattern), By End-User (Adults, Kids), By Distribution Channel (Online, Offline) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global tennis racquet market size was valued at USD 350.02 million in 2022. It is estimated to reach USD 420.10 million by 2031, growing at a CAGR of 2.5% during the forecast period (2023–2031).

Tennis racquets are a type of specialized sporting equipment that players utilize to strike the ball during a tennis match. Tennis racquets are engineered with distinct attributes to enhance functionality, such as frame construction, mass distribution, equilibrium, handle dimensions, and cord tautness. The racquet market offers diverse products catering to player preferences, playing styles, and skill levels.

The global tennis racquet market has experienced a notable expansion in recent times, primarily attributed to the rising global recognition of tennis as a sport. Tennis racquets are a fundamental piece of equipment for players across all skill levels, ranging from novice to expert. This market analysis aims to provide significant perspectives on the trends, catalysts, impediments, prospects, and noteworthy advancements in the tennis racquet market.

Highlights      

• Tweener racquet dominates the product type segment
• Carbon fibers dominate the raw material segment
• Adults dominate the end-user segment
• North America is the highest shareholders in the global market

Market Dynamics

Global tennis racquet market drivers:

Growing trend of increased health consciousness among individuals

The rising health concerns have resulted in a surge in demand for fitness-related pursuits worldwide, leading to a notable uptick in engagement with athletic endeavors, such as tennis. The game of tennis has also gained popularity among individuals of various age groups worldwide due to its numerous benefits as a recreational activity. Cardio tennis is a group fitness program that has achieved popularity due to its potential to facilitate calorie reduction. In addition, the market's projected growth is expected to be driven by the significant adoption of cardio tennis among fitness enthusiasts. The observed benefits of this activity include improvements in aerobic capacity, reductions in resting heart rate and blood pressure, enhancements in metabolic function, and increases in bone mineral density.

Rising disposable income levels

Individuals with increased disposable income tend to allocate more of their budget toward acquiring premium racquets. Consumers possess greater flexibility to allocate funds towards superior quality products that align with their preferences and needs. Premium racquets represent cutting-edge technologies and materials to optimize a player's performance, providing advantages such as increased power, control, and more.

Consumers who prioritize performance benefits are inclined toward purchasing high-end racquets. It is common for premium racquets to be affiliated with reputable brands and receive endorsement from professional athletes. The possession and utilization of these premium racquets may confer a perception of prestige and social standing within the community of tennis enthusiasts. Consumers with higher disposable income may also tend to purchase high-end racquets to express their enthusiasm for the sport and associate themselves with the perceived superiority of such merchandise.

Global tennis racquet market restraint:

High costs associated with premium-grade tennis racquets

The high cost of premium-grade rackets is a restraint to the global market. Racquets of premium grade are typically constructed using cutting-edge materials, state-of-the-art technologies, and exceptional workmanship, leading to elevated manufacturing expenses. The retail prices of premium-grade tennis racquets exhibit a substantial increase compared to their lower-end or mid-range counterparts. The premium racquets' elevated price point may deter certain consumers, particularly those who are budget-conscious or play tennis recreationally.

Some market groups may not want or be able to buy high-quality racquets because they are sensitive to price. Consumers may choose to go with less expensive options but still do what they need to do. Similarly, it is important to remember that different people have different ideas about what things are worth. Some people may not think the high price of high-end racquets is justified or necessary for their skill level. People who care more about how much something costs than how good it is may find that a mid-range racquet is a good choice that works well enough.

Global tennis racquet market opportunities:

Smart sensors and built-in data tracking technologies

Smart sensors and built-in data-tracking technologies build sensor-based systems and data-tracking features right into the racquet. This gives players useful information about their performance, technique, and game. Smart devices integrated into the racquet capture data during a game, including swing speed, where the ball hits, how quickly it spins, how many shots are taken, and even biometric information like heart rate and energy expenditure. The data is then processed and examined either by the racquet itself or by mobile apps and software that are tied to it. In addition, smart devices can collect data that coaches and trainers can use to make training more effective and personalized. They can keep track of how a player is doing over time and change training plans to improve performance, creating opportunities for market growth.

Regional Analysis

Based on region, the global tennis racquet market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North america dominates the global market

North America is the most significant global tennis racquet market shareholder and is predicted to rise significantly during the forecast period. The North American region is a major player in the global tennis racquet market as more and more North American consumers choose healthy lifestyles and tennis as a recreational sport to improve their health. Regarding sports, the United States is unrivaled as a market and a country with a wide range of infrastructure and facilities. With more people playing sports in the United States, especially among the younger generation, racquet sales have skyrocketed. In addition, several reputable manufacturers of tennis racquets are present in the North American region. The current market is dominated by several top brands, including Wilson, Babolat, Head, Prince, Yonex, and TecniFiber. The companies mentioned demonstrate a strong market presence and offer a wide range of racquets suitable for players of different skill levels.

Europe is predicted to expand significantly over the forecast period. The demand for tennis racquets experiences a substantial surge in the event of a major tennis tournament in close proximity. Europe's racquet industry is notable due to the continent's extensive historical connection with tennis and its significant presence of highly skilled players. The growth of the worldwide tennis industry has been significantly influenced by countries like France, Spain, Switzerland, and the United Kingdom, which are all home to sizeable fan bases and host important events like Wimbledon, the French Open, and the ATP World Tour Finals. In addition, tennis players in Northern Europe have their pick of a wide variety of racquets designed with their preferences in mind. Tennis players may choose from various racquets that aim to improve speed, accuracy, and power. Therefore, racquet makers are spending money on R&D to make their products more fun.

The Asia-Pacific region is expected to exhibit a greater demand for tennis racquets owing to a larger number of tennis courts and training centers. The projected growth of the tennis racquets market can be attributed to the growing inclination towards fitness and healthcare among the populace and a surge in per capita disposable income in the region. The Asia–Pacific market caters to many different kinds of players. It includes first-timers, occasional players, amateurs, and veterans. It is a common practice for companies to develop multiple lines or models of racquets that cater to specific segments of players. Similarly, racquets for advanced and professional players prioritize power, precision, and customization choices. On the other hand, products designed for individuals with limited expertise and those engaging in leisurely activities emphasize user-friendliness, error tolerance, and affordability.

In Latin America, tennis racquets have long been a favorite among consumers. Many tennis fans live in nations like Argentina, Brazil, Mexico, and Colombia. The construction of new professional tennis facilities, the popularity of tennis, and the influence of renowned Latin American tennis players are all factors that have fueled the industry's expansion. In addition, Latin American tennis racquet manufacturers may boost sales and brand awareness through marketing and advertising. They sell their goods in competitions across the globe with the help of tennis professionals. Online technologies like social networking, product reviews, and advertising may expand the audience for a message.

The Middle East and Africa region's tennis racquet market is experiencing consistent growth. The sport of tennis is experiencing an increase in popularity and is becoming more widely accessible to a broader demographic. The expanding market size can be attributed to various factors, including heightened investment in sports infrastructure, growing disposable income, and the impact of professional tennis events and players. In addition, the regional market offers a wide range of racquets, enabling players to select equipment tailored to their playing styles, skill level, and personal preferences. The positive trend observed in the market can be explained by the rise in participation rates, significant investments in sports infrastructure, and the influence of international tennis competitions.

Segmental Analysis

The global tennis racquet market is bifurcated into product type, raw material, string pattern, end-user, and distribution channel

Based on the product type, the global market is divided into tweener racquets, power racquets, and control racquets.

The tweener segment is the highest contributor to the market share and is expected to grow significantly during the forecast period. The Tweener racquet is a tennis racquet between those with a lot of power and those with a lot of control. In this way, they give players a good balance of control and power. These rackets are great for players who are getting better. Generally, the head size is about one to four inches smaller than that of a power racket. They also tend to have a stiff base and weigh more than power rackets. The Prince Textreme Warrior Racket and the Wilson Burn Racket are widely recognized as prominent members within this particular category.

Based on string patterns, the global market is divided into open string patterns and tight or closed string patterns.

The open string pattern segment owns the largest market share and is expected to expand significantly over the forecast period. The configuration of strings on racquets often influences their performance. Most people use 16x18 and 16x19 racquets with an open string design. These are referred to as "open string patterns" because the blocks are larger and there are more spaces between the strings. Most people prefer open string patterns over tight or closed string patterns. In addition, professional players use racquets with open-string designs when training or playing in events. The higher launch angle made spinning more effective, and open-stringed racquets' better reaction response is one reason they are becoming more popular. Because of the benefits listed above, sports activists choose open-string designs.

Based on raw materials, the global market is divided into carbon fiber and aluminum. 

The carbon fiber segment is the highest contributor to the market and is anticipated to expand significantly during the forecast period. Lightweight and precise weight distribution throughout the racquet are two desirable qualities of carbon Fiber equipment. A racquet of carbon composites suits a wider variety of swing types due to its ideal balance, weight, and swing weight. As a result, there has been a movement toward valuing lightweight products that provide the necessary stiffness and strength. A wide range of carbon fiber racquets has been created over the years because manufacturers can control the racquet's flex pattern by varying the stiffness at different points in the frame.

Based on the distribution channel, the global market is bifurcated into online and offline.

The online segment dominates the global market and is anticipated to boost significantly over the forecast period. Tennis racquets are widely available through online marketplaces and e-commerce websites. These sites provide an online platform where vendors can congregate to list and sell their products. Websites like Amazon and eBay and niche markets for things like sports equipment are examples of successful e-commerce platforms. Many stores selling tennis racquets online are either general sports goods stores or stores specializing in tennis equipment. Features like professional guidance, product comparisons, and support centers may also be available on such sites.

Based on the end-user, the global market is bifurcated into adults and kids. 

The adult segment is the highest contributor to the market and is projected to grow significantly during the forecast period. Individuals who have attained the age of majority, also known as adulthood, are classified as adults. Professional and amateur tennis players' tournament participation has strengthened the adult market. The development of e-commerce, the need for sports teams and recreational facilities among adults, and consumers' increasing willingness to spend money all contribute to the market's growth. In addition, more people are moving to cardio tennis because it provides a challenging workout that involves both an aerobic warm-up and a fat-burning aerobic workout. This growth of the tennis sector is financially advantageous to manufacturers of tennis rackets.

Recent Developments

• May 2023- Babolat launched the Pure Aero Rafa” Origin” with a more head-heavy balance and increased inertia, allowing players to generate more power and hit heavier spin. The Pure Aero Rafa series is designed for players who prefer heavy spin, which combines power and severe spin, as opposed to the Pure Aero range, which is made for players who want powerful spin and make contact at the top of the bounce or right after the bounce.