The global squash rackets market size is expected to reach USD 237.2 million by 2025 registering a CAGR of 3.6%, according to a new report by Grand View Research, Inc. Significant increase in the number of squash sports tournaments across the globe is the key factor for the market growth. Moreover, increasing popularity of squash sports plays a key role in increasing the product demand.
Carbon fiber raw material segment is expected to lead the global market over the next few years. Products made of these materials have been gaining traction among amateur and professional players due to lower weight and higher strength and durability. North America was the largest regional market in 2018 and accounted for more than 30% of the overall share. The region will retain its dominant position throughout the forecast years.
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Key companies in the squash rackets market include Head N.V., Dunlop Sport, Tecnifibre, Wilson Sporting Goods, Prince Global Sports, Babolat, Ektelon LLC., Amer Sports, ONE SPORTS s.r.l., and Harrow Sports. Major manufacturers focus on new product development to expand their market reach. For instance, in March 2019, Tecnifibre launched a new squash racket with improved design and physical properties under the brand name ‘Tecnifibre Dynergy APX 120’. This racket has arch technology with grommets and 14*17 string patterns for increased powers.
Further key findings from the study suggest:
• North America was the largest market 2018 and will expand further at a steady CAGR over the forecast period
• Europe is expected to be the fastest-growing regional market at a CAGR of 4.0% from 2019 to 2025 owing to the increasing popularity of the sport
• Carbon fiber was the largest raw material segment in 2018. The segment is projected to expand further at the fastest CAGR from 2019 to 2025
• Brick & mortar was the largest distribution channel segment in 2018. However, online segment will register the maximum growth rate during the forecast years
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Grand View Research has segmented the global squash rackets market on the basis of raw material, distribution channel, and region:
Squash Rackets Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
• Carbon Fiber
• Aluminum
• Others
Squash Rackets Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Brick & Mortar
• Online
Squash Rackets Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
• Central & South America
o Egypt
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.