Tennis Equipment Market Insights: Growth Factors, Market Drivers, Segmentations, Key Players, Analysis & Forecast by 2028
Global Tennis Equipment Market: Outlook
The sports industry has come a long way over the decades. Various types of sports have witnessed a higher rate of participation as well as the audiences. Tennis that is being considered as one of the most prominent sports played all around the world and has seen millions of participants every year. With the popularity gaining for tennis equipment, there is a higher demand for various tennis equipment. According to a recent stat, the overall participation has witnessed a gradual rise in each of the last five years. As a result, the confluence of the rising popularity of the game and increase in a number of players for the game has been eventually triggering the demand for tennis equipment in the global market. Among the marketing strategy, major tennis equipment manufacturers have to adopt celebrity branding to promote its products and services. Celebrity branding is being considered to influence the mind of the customers following tennis to buy and play the sport.
Global Tennis Equipment Market: Reasons for covering this Title
Tennis is one such sport that has been influencing the minds of consumer especially the youth and the millennial sectors to play the game. Tennis has been played in almost all major parts of the world no matter its North America, Europe or the Asia Pacific. With the rise in popularity of sports, for obvious reasons, there has been burgeon demand for tennis equipment as well. There are various tennis equipment that has been gaining traction among the target segment that includes racquet, apparel, grips and accessories, and various other such equipment. Tennis equipment has been gaining demand from both professional and unprofessional sectors as well which is attributable to the rise in the number of participants for the sport from all demographic sectors.
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Global Tennis Equipment: Market Segmentation
On the basis of product types, the global tennis equipment market has been segmented as –
- Tennis shoe
- Tennis bag
- Grips & Accessories
On the basis of end use, the global tennis equipment market has been segmented as –
- Professional players
- Unprofessional players
On the basis of application, the global tennis equipment market has been segmented as –
On the basis of the distribution channel, the global Tennis Equipment market has been segmented as –
- Sports Store
- Franchise Store
- Online Store
Global Tennis Equipment Market: Key Players
Some of the key players operating in the global tennis equipment market are Head, Wilson, Babolat, Yonex, Dunlop Sports Group, Prince Sports, Tecnifibre, ProKennex, Solinco, Nike, and Addidas, among others.
Tennis Equipment Market: Key Trends
The major tennis equipment manufacturers are coming up with the new products along with effective promotions for the same.
Tennis Equipment Market: Key Developments
- In 2018, HEAD, one of the key players in the global tennis equipment market launched Graphene 360 Speed tennis racquet series for the North American market.
- In 2015, Wilson Sporting Goods Co. one of the marquee players in the global tennis equipment market announced the launch of three new high-performance rackets. The new products include the Pro Staff 97S, which was developed in collaboration with Wilson Advisory Staff Member Grigor Dimitrov, a line of extreme power rackets called ULTRA XP, and Element string.
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Opportunities for Tennis Equipment Market Participants
The popularity of tennis has been surging over the past couple of decades with a higher number of participants actively playing the sport. Several African countries that have been not used to playing such sport, has now gradually started it out. Moreover, some of the high-income demographic sectors are influenced with the idea of installing a full-fledged tennis court at their residents. This trend pattern has been followed especially in North America and European regions. Hence this one critical factor suggest a critical opportunity for global tennis equipment market to gain traction in the high-end household sectors.