The tennis equipment market isn’t just about rackets and balls anymore – it’s about a revolution in athletic performance and player experience. This industry, valued at a strong US$ 9.24 billion in 2023, is poised for a serve and volley to a staggering US$ 12 billion by 2033. Here’s why you should step up your game and become a key player in this exciting market:
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The Science of the Swing: Biomechanical engineering is the new baseline. By offering equipment meticulously designed to optimize a player’s movements, you can minimize strain and maximize performance, attracting athletes seeking that competitive edge.
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Beyond Grip – A Sensory Symphony: The future of tennis equipment is multisensory. Develop equipment that incorporates textured grips, sound-modulating strings, and even innovative materials to heighten players’ tactile experience, fostering a deeper connection with the game.
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Mind Over Muscle: Cognitive training is the secret weapon of champions. By offering rackets with neurofeedback mechanisms or visors that enhance focus, you cater to the mental aspect of the game, empowering players to make strategic decisions on the court.
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Innovation is the Name of the Game: Stand out from the competition by embracing cutting-edge technology. Invest in research and development to create game-changing equipment that pushes the boundaries of performance and player experience.
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A Market Built on Passion: Tennis is a global sport with a passionate following. By offering equipment that caters to all skill levels, from recreational players to professional athletes, you tap into a dedicated market eager to improve their game.
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Building a Loyal Community: Focus on building a brand identity that resonates with tennis players. Sponsor tournaments, partner with coaches, and create educational content to establish yourself as a leader in tennis equipment innovation.
According to FMI’s report, endorsement is one of the key strategies used by tennis equipment manufacturers to drive their sales. Shoes and apparels endorsed by athletes are 60% more likely to get sold as compared to those without any endorsement. Tennis shoes and apparels consumers are also being influenced by brand promotions done by their favorite stars.
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.
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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.
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
Market Segmentation
By Product Type:
- Tennis Racquets
- Tennis Balls
- Apparel
- Footwear
- Ball Machines
- Tennis Bags
- Other Accessories
By Material:
- Composites
- Metallic
- Other Materials
By Buyer:
- Tennis Equipment for Individuals
- Tennis Gear for Beginners
- Tennis Equipment for Intermediate
- Advanced
- Tennis Equipment for Institutional Use
By Sales Channel:
- Dedicated Stores
- Dedicated e-Commerce
- Specialty Retailers
- Multi-Brand Stores
- Online Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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