Lucintel anticipates that Asia Pacific will be the fastest growing region for the global tennis equipment market
According to a new market report published by Lucintel, the future of the global tennis equipment manufacturing market looks good with opportunities in the tennis racquet, tennis ball, and tennis strings market. The global tennis equipment manufacturing market is expected to reach an estimated $845.7 million by 2022 and is forecast to grow at a CAGR of 2.4% from 2017 to 2022.
The major growth drivers for this market are an increasing number of tennis events, growing participation among age groups, particularly in the youth segment, and growth of tennis as a fitness sport.
In this market, the three segments by type are tennis racquets, tennis balls, and tennis strings.
Currently, tennis racquets are mostly made of composites material and it will remain preferred material for manufacturing due to their lightweight property.
North America is expected to remain the largest region by value during the forecast period due to an increasing number of professional players and cardio tennis participants in this region.
APAC is expected to experience the highest growth over the forecast period due to growing players’ participation in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of information technology for direct promotion/marketing to customers, and increasing participation in tennis for cardiovascular health. Amer Sports, Head NV, Babolat, Yonex, and Dunlop Sports are among the major manufacturers of tennis equipment.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global tennis equipment market by type, material type of tennis racquet, and region, and has come up comprehensive research report entitled, “Growth Opportunities in the Global Tennis Equipment Manufacturing Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global tennis equipment manufacturing market by type, material (tennis racquet), and region as follows:
By type (Value ($ million) and Volume ( million units) from 2011 to 2022):
· Tennis Racquet
· Tennis Ball
· Tennis String
By Material of Tennis Racquet (Value ($ million) for 2016)
· Other Materials
By Region (Value ($ million) from 2011 to 2022):
· North America
· Asia Pacific
· The Rest of the World
This 99 page research report will enable you to make confident business decisions in this globally competitive marketplace.
For more information:Make an Inquiry about this report HERE!