The tennis equipment market, valued at USD 9.24 billion in 2023, is anticipated to reach USD 12 billion by 2033, reflecting a sales advancement at a 2.6% CAGR from 2023 to 2033.
Beyond just analyzing data, biomechanical engineering is emerging as a transformative force. Sporting equipment is now intricately crafted to maximize a player’s biomechanics, improving natural movements and reducing strain. This fusion of sports science and design, from rackets to footwear, is pushing performance to new levels.
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Additionally, various manufactures of tennis equipment have shifted their concentration heavily upon the distribution of equipment through online sales channels. It could be evidently seen that a majority of tennis shoe manufactures, such as Adidas, Puma, Yonex and Li Ning, have turned their attention to capture sales of tennis shoes through online channels, such as company’s official e-commerce websites and third-party e-commerce websites.
South & East Asia Remains Prominent Market for Tennis Equipment
Growing influence of professional tennis among the Asian population is offering a lucrative opportunity for tennis equipment market players in South & East Asia. Additionally, factors such as booming Chinese economy, development of sports infrastructure, and training facilities have created opportunities for various stakeholders in the sports equipment manufacturing ecosystem.
Profound interest of government as well as private sector in sports activities such as tennis has helped to strengthen the image of sports within the developing countries. Transition of casual to core tennis participation is likely to contribute substantial growth to the tennis equipment market. The increasing fitness trend among millennials in the Asia Pacific region is expected to provide an impressive growth to the tennis equipment market during 2022-2029.
Rising awareness about protecting our environment and the preference for natural products is expected to promote the growth of biodegradable and eco-friendly tennis products. People are preferring natural gut tennis strings, as an eco-friendlier option. These strings are made from recycled synthetics or alternative materials.
The raw material used in natural gut strings is a by-product of the meat industry, a viable alternative to petroleum-based plastics. Furthermore, people are preferring athletic clothing made from recycled or sustainable materials which is creating a massive opportunity for the growth of the global tennis equipment market during the forecast period.
FMI’s business intelligence also highlights significant insights into the competitive scenario of the tennis equipment market along with manufacturers’ differential strategies. Key players in the tennis equipment market are focusing on new product development and efficiency enhancement to gain brand penetration and loyalty among consumers. For example, in 2018, Amer Sports Corporation’s brand Wilson launched the Iconic John Wooden sneaker.
It features a revolutionary polyurethane sole that is lightweight. This launch was aimed at expanding the company’s product portfolio. According to FMI’s report, companies are also continuously expanding awareness about their products in the market by showcasing them at various events with the objective to increase sales as well as brand penetration in the tennis equipment market.
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Key Players Are:
- Amer Sports Corporation
- Head N.V.
- Dunlop Sports Co. Ltd.
- Tecnifibre
- Oliver Sports & Squash GmbH
- Harrow Sports Inc.
- Babolat
- Yonex Co. Ltd.
- Adidas AG
- Gamma Sports
- Prince Global Sports LLC
- ProKennex
- One Strings
- Solinco
- Nike Inc.
- Playmate Ball Machines
- Volkl Int. GmbH
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