According to a market report published by Future Market Insights, the global sales value of tennis equipment is likely to reach US$ 8 Bn in 2019. According to the report, the tennis equipment market is projected to expand at a CAGR of ~3% during the forecast period.

Independent sports outlet is estimated to be the leading sales channel in the global tennis equipment market in 2019, due to availability of high quality products at affordable price which is affecting larger competitors in the market.

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 2019-2029.

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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 a more eco-friendly 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.

Tennis Equipment Market Key Segment

Product

• Racquets
• Balls
• Apparel
• Footwear
• Ball Machines
• Tennis Bags
• Other Accessories (Strings, Net, Wrist bands, Head bands, Grips, Towels, Supporters, etc.)

Material

• Composites
• Metallic
• Other Materials

Buyer

• Individual
  • Beginner
  • Intermediate
  • Advanced
• Institutional

Sales Channel

• Independent Sports Outlet
• Sports Retail Chain
• Franchised Sports Outlet
• Direct to Customer Online Channel
• Direct-to-Customer Institutional Channel
• Modern Trade Channels
• Third Party Online Channel

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle-East and Africa