The racquet sports equipment market is projected to increase by US$469.78 million from 2021 to 2026, representing a compound annual growth rate (CAGR) of 2.78 percent, according to a recent report by research firm Technavio.
In 2022, the market increased by 2.3 percent, recovering from the negative impact of the Covid-19 crisis in the previous few years. The growth of the market in the forecast period will be driven by the increase in the number of racket sports courts worldwide. Another key factor driving the market growth is the rise in participation in racquet sports like badminton and tennis, both professionally and recreationally, which has already led to the development of clubs and associations in these sports.
The forecast period is also characterized by the increased use of nanomaterials in the manufacture of sports equipment, which is boosting demand for these products.
The Asia-Pacific region (APAC) will contribute 53 percent of the growth in the forecast period, driven by China, Japan and India. Market growth in the APAC region will be faster than growth in the other regions. The increasing interest in racquet sports, especially tennis, among consumers and an increase in tennis facilities in schools and colleges will facilitate market growth in the APAC region. Worldwide, the key consumer countries are the U.S., China, Japan, India, Germany and Italy.
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