Squash Rackets Market Analysis Report By Distribution Channel, By Raw Material, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global squash rackets market size was accounted for USD 185.2 million in 2018. It is estimated to grow at a CAGR of 3.6% over the forecast period, 2019 to 2025. Increasing demand for squash rackets owing to the increasing prominence of squash among the consumers is a major force propelling the market growth.

In addition, an increasing number of world championships and tournaments conducted by various international associations such as the Professional Squash Association and World Squash Federation is projected to influence people to actively participating in squash which is thereby expected to drive the product demand over the forecast period.

Furthermore, rising awareness regarding the importance of squash and other racket sports for improving muscle flexibility and core muscle strength is anticipated to further proliferate the market growth.

Various government initiatives in countries like France, U.S., Australia, U.K., China, Germany, Malaysia, and India that promote different sports are anticipated to impact significantly on the market growth. For example, ‘Khelo India Programme’ was one of the key initiatives taken by the Indian government and the Ministry of Sports and Youth Affairs, in 2017 for encouraging youngsters to actively participate in different sports and for promoting various national as well as international sports in India. In 2018, North America held the largest share of over 30% across the global market owing and is projected to maintain its dominance from 2019 to 2025. 

Raw Material Insights

In 2018, the segment of carbon fiber held the largest market share of over 70% across the global market. It is anticipated to attain the fastest CAGR from 2019 to 2025. Factors such as durability of the rackets, their lightweight feature, and high strength are anticipated to drive the segment demand over the forecast period. Moreover, these rackets offer a proper blend of weight, swing, and balance. This factor is projected to boost the popularity of carbon fiber rackets in the forthcoming years. Leading players such as Tecnifibre, Head N.V., and Dunlop Sport are concentrating on product innovation in order to gain a competitive advantage over other competitors. This is projected to boost the demand for carbon fiber squash rackets over the forecast period. For example, Prince Global Sports, in April 2015, launched squash rackets made of carbon fiber and ‘TeXtreme’ which is a lightweight material offering superior strength and stability.

Distribution Channel Insights

The segment of brick & mortar distribution channel held the largest market share across the global squash rackets market in 2018. An increasing number of multi-brand outlets and exclusive stores in emerging economies such as India and China is projected to propel the growth of the segment. For example, Decathlon S.A. collaborated with Singapore’s national sports agency called Sport Singapore for opening its store in Singapore. The company reported that this region is the largest market for sports equipment.

The segment of online channels is projected to attain the fastest CAGR of 4.1% over the forecast period. This growth is attributed to the rising penetration of the internet and smartphones in developing economies such as China and India. Moreover, the rising influence of social media and e-commerce portals is anticipated to further augment the growth of online channels from 2019 to 2025.

Regional Insights

In 2018, North America held the largest market share and is projected to attain steady growth over the forecast period. Several world championships and tournaments are hosted by various associations in this region. This factor is anticipated to fuel the growth of the market. For example, in 2019, the U.S. Open tournament will be hosted from October 5 to October 12. Moreover, in 2019, World Squash Federation will be hosting the Men’s World Team Championship in the U.S. from December 15 to December 21.

The market for squash rackets in Europe is projected to grow at the fastest CAGR of 4.0% over the forecast period, 2019-2025. This growth is attributed to the rising popularity of sports and other recreational activities. Moreover, manufacturers in Europe are focusing on launching new and improved products with advanced features which are thereby anticipated to propel the growth of the regional market from 2019 to 2025.

Squash Rackets Market Share Insights

Leading players in this industry include Dunlop Sport, Head N.V., Tecnifibre, Babolat, Wilson Sporting Goods, ONE SPORTS s.r.l., Ektelon LLC., Amer Sports, Harrow Sports, and Prince Global Sports. The market for squash rackets is centralized in nature. For gaining a competitive advantage over other competitors, the companies focus on various strategic initiatives such as product innovation and new product development.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global squash rackets market report on the basis of raw material, distribution channel, and region:

• Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
    • Carbon Fiber
    • Aluminum
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Brick & Mortar
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
        • France
    • the Asia Pacific
        • China
        • India
    • Central & South America
    • Middle East & Africa
        • Egypt