The global squash rackets market size is projected to attain USD 237.2 million by the end of 2025, according to a new report released by Million Insights. It is estimated to grow at a CAGR of 3.6% over the forecast period, 2019-2025.Rising number of world championships and tournaments hosted by various associations such as World Squash Federation is the major factor propelling the growth of the market. In addition, rising product demand owing to increasing popularity of squash sports among large consumer group is anticipated to further fuel the market growth.
By raw material, carbon fiber squash rackets held the largest market share in 2018 owing to its features such as high strength, lightweight, and durability. Moreover, these rackets offer a perfect blend of swing, balance and weight. Moreover, increasing launches of new and improved products by leading market players to attract large group of consumers is projected to impact positively on the growth of carbon fiber segment. By region, North America held the largest market share of over 30% across the global squash rackets market owing to large number of squash world championships and tournaments are hosted in this region.
The brick and mortar segment of distribution channels accounted for the largest market share in 2018 owing to presence of large number of multi-brand and exclusive brand outlets. On the other hand, the online channel segment is projected to attain the fastest growth at a CAGR of 4.1% over the forecast period owing to increasing influence of smartphones and e-commerce portals.
Leading players in this market are 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. Key players in the market are focusing on launching new and improved products to gain a competitive advantage over other competitors as well as to expand their product portfolio.
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Further key findings from the report suggest
• In 2018, North America held the largest market share across the global squash rackets market and is projected to attain a steady growth rate from 2019 to 2025.
• Europe is projected to attain the fastest CAGR of 4.0% over the forecast period due to rising demand for squash rackets in the region
• The segment of carbon fiber squash rackets held the largest market share in 2018 and is anticipated to attain the fastest growth over the forecast period.
• The brick and mortar segment of distribution channels accounted for the largest market share in 2018 owing to presence of large number of multi-brand and exclusive brand outlets.
Million Insights has segmented the global squash rackets market based on raw material, distribution channel, and region:
Squash Rackets Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
• Carbon Fiber
Squash Rackets Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Brick & Mortar
Squash Rackets Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)