Squash Rackets Market Competitive Rivalry, Consumer Trends & Preferences, 2025

Author : Tom Clark | Published On : 15 Nov 2021

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.

Key Players:

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.

Growth Drivers:

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.

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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. 

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.

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