Rockville, MD, July 19, 2018 (GLOBE NEWSWIRE) -- The market for tennis racquets is gaining in popularity all over the world due to the rising health awareness amongst the people. People want to stay healthy and fit and in order to achieve this goal, they are inclined to take up sports like tennis, which helps them in attaining their health and fitness goals. This is especially true for the elder segment of population. United States is a lucrative market for tennis and the growth in this market is supported by the rising number of players playing the game of tennis. However, one of the major challenge that the game is facing is to retain the players playing tennis, as a large number of players are quitting the game after a point of time. Moreover, high training costs associated with tennis acts as a restraint to the growth of the tennis racquet market.
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The global tennis racquet market is slated to touch a value of nearly US$ 437 Mn in the year 2022 and grow at a moderate CAGR during the assessment period.
Key Highlights on Tennis Racquet Market
1- As per the forecast of Fact.MR, the control tennis racquet segment is slated to touch a value of nearly US$ 96 Mn in the year 2022. This represents a sluggish CAGR growth during the assessment period of 2017-2022. The control tennis racquet segment is estimated to account for more than one-fifth of the revenue share of the racquet type segment by the year 2017 end and is expected to lose in market share by the year 2022 end.
2- As per the forecast of Fact.MR, the 27 inch tennis racquet segment will reach a value of nearly US$ 270 Mn in the year 2017. This represents a moderate CAGR growth during the forecast period. The 27 inch tennis racquet segment is estimated to account for more than three-fourths of the revenue share of the racquet length segment in the year 2017 end and is expected to gain market share by the end of the year 2022.
3- As per the forecast of Fact.MR, the independent sports outlet segment is slated to reach a value of nearly US$ 50 Mn in 2022. The independent sports outlet segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the North America region in the independent sports outlet segment.
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4- Fact.MR forecasts the US tennis racquet market to grow from nearly US$ 80 Mn in 2017 to nearly US$ 105 Mn in 2022. This represents a compound annual growth rate (CAGR) of 4.9% from 2017 to 2022.
Power Tennis Racquet Segment Poised to Touch a Value of Nearly US$ 250 Mn in 2022
As per the forecast of Fact.MR, the power tennis racquet segment is expected to reach a value of nearly US$ 250 Mn in the year 2022. This represents a steady CAGR during the forecast period of 2017-2022. Power tennis racquet segment is expected to account for more than half of the revenue share of the racquet type segment by the year 2017 and is expected to gain market share by the end of the year 2022.
The report has also profiled leading players in the global market for tennis racquets, which will remain active through 2022. These include companies such as Babolat VS. SA, Yonex Co. Ltd., Authentic Brands Group, LLC, ASICS Corporation, Head N.V. and Dunlop Sports Group Americas, Inc.
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