The Racket Sports Equipment Market is expected to increase by USD 733.2 million billion. As per the research report 2024-2028 published by Technavio, the market is expected to grow at a CAGR of 3.62% during the forecast period. The industry is segmented by Distribution Channel (Offline and Online), Product (Tennis equipment, Badminton equipment, and Squash equipment), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
The racket sports equipment market encompasses various distribution channels, including monobrand stores, department stores, hypermarkets, supermarkets, and specialty stores. Monobrand stores, which are retail outlets owned by product manufacturing companies, have gained significant traction in the market due to their premium brand image. These standalone stores offer a comprehensive range of equipment and accessories under the same brand, thereby attracting a substantial customer base. Notably, North American manufacturers of racket sports equipment, such as Nike and Adidas, are expanding their monobrand store presence to bolster direct-to-customer sales, investing heavily in new retail outlets to cater to the region's consumer demand.
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The North America hold the largest regional market size in the current year. The North American racket sports equipment market is poised for significant growth due to the burgeoning popularity of squash in the region. The US and Canada, in particular, are experiencing a surge in the number of regular players, driving demand for equipment. With the US leading the way, other countries like Mexico also contribute to the market. Notable tournaments, such as the US Open Squash Championships and the North American Open, attract substantial participation annually. Additionally, the increasing trend of tennis equipment usage among the younger generation in the US is expected to further fuel market expansion.
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The global racket sports equipment market is a segment of Technavio's comprehensive analysis of the USDX.Y trillion global household durables market. This market encompasses various categories, such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer games, under the broader umbrella of leisure products. Technavio's market size calculation for household durables includes the consolidated revenue of manufacturers in sectors like consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. Key growth drivers for the global leisure products market include the surge in health and fitness club memberships, which have seen a consistent rise in the last decade.
The Racket Sports Equipment Market is experiencing significant growth, fueled by the Increase in number of racket sports courts worldwide. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Racket sports, including tennis, racquetball, squash, badminton, pickleball, and table tennis, require specific protective gears and lightweight equipment for optimal performance and safety. International players and sports clubs rely on high-quality rackets, balls, shoes, protective eyewear, and caddies to enhance their game. Protective gears, such as eyewear and shoes, are essential for preventing injuries. Lightweight fabric apparels keep players cool and comfortable during intense matches. Tennis balls and hollow rubber balls, used in various racket sports, come in various sizes and textures to suit different playing styles. Real racquetballs and rackets, designed for optimal power and control, are crucial for racquetball and squash players. Table tennis players use lighter rackets and smaller balls. Pickleball, a popular sport among millennials and Generation Z, uses a paddle instead of a racket and a smaller, lighter ball. Sports equipment companies offer a range of lightweight equipment, including rackets, balls, shoes, and bags, to cater to the needs of racket sports enthusiasts. E-commerce platforms make it easy to purchase these items online, allowing players to access high-quality equipment from anywhere in the world. In summary, racket sports equipment includes protective gears, lightweight fabric apparels, balls, rackets, shoes, caddies, eyewear, and bags, designed to enhance performance and safety for players of all levels and ages. From tennis to racquetball, squash, badminton, pickleball, and table tennis, the global sports community relies on these essential items to enjoy their favorite sports.
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