(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The "Squash Rackets Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets's offering.
The Global Squash Rackets Market, valued at USD 175 million in 2022, is poised for robust growth in the forecast period, with an expected CAGR of 4.2% through 2028. The global squash rackets market is currently experiencing a period of sustained expansion and innovation, driven by several influential factors that are shaping the industry.
Squash has captured the attention of sports enthusiasts, with its benefits of being an intensive workout and a strategic, fast-paced game. This burgeoning interest has spurred the demand for high-quality squash rackets, which manufacturers are meeting through continuous tech innovations. Lightweight and durable materials, like carbon fiber, have been the game-changer, revolutionizing racket performance in terms of power and control.
Leading the growth trends is the customizability feature being offered by squash racket manufacturers. Players can now find a racket that caters seamlessly to their playstyle, owing to the various options available in terms of weight, balance, and string tension. This personalization capability in squash rackets is a significant market driver, enhancing player experience and fostering brand loyalty.
The Global Squash Rackets Market is segmented by product type, with open throat designs garnering increasing popularity among players seeking enhanced power and maneuverability. Closed throat and hybrid designs are also featured, catering to a range of player preferences and styles.
Additionally, changes in retail and distribution channels have played a crucial role in the market's development. The rise of online retailing has changed the dynamics of purchasing squash rackets by offering players a wider selection, transparent pricing, and the convenience of shopping from anywhere in the world.
Regional Market Insights
North America showcases significant growth potential as squash becomes increasingly prevalent among athletes looking for high-intensity sports. Asia-Pacific, the Middle East, and South America are identified as emerging markets due to the growing accessibility and popularity of squash in these regions.
With the challenge of raising global awareness and promoting squash across diverse demographics, there's immense potential for the sport to grow. Addressing cost and accessibility issues and highlighting squash's unique attributes compared to other racquet sports are crucial strategies that stakeholders are looking to implement.
Competitive Landscape and Trends
Technological advancements, including smart racket features, are setting new standards in how players engage with the sport. As the industry moves towards sustainability, eco-friendly materials and production processes are becoming a focal point.
The comprehensive analysis of the Global Squash Rackets Market encapsulates the driving factors, regional market insights, and evolving trends, painting a detailed picture of an industry ripe with opportunities for innovation and growth. This market insight is a critical resource for stakeholders, investors, and enthusiasts aiming to understand the current landscape and future prospects of the global squash rackets market.
As the sport of squash escalates in global appeal and technological integration becomes increasingly significant, the squash rackets market is set to soar, reaching new heights in the years to come.
For businesses and investors, this growth presents an opportune moment to engage with a dynamic and flourishing market sector.
| Report Attribute
| No. of Pages
| Forecast Period
| 2022 - 2028
| Estimated Market Value (USD) in 2022
| $175 Million
| Forecasted Market Value (USD) by 2028
| $223 Million
| Compound Annual Growth Rate
| Regions Covered
In this report, the Global Squash Rackets Market has been segmented into the following categories:
Squash Rackets Market, By Product Type:
Open Throat Closed Throat Hybrid
Squash Rackets Market, By Distribution Channel:
Head N.V. Dunlop Sport Tecnifibre Wilson Sporting Goods Babolat Prince Global Sports ONE SPORTS s.r.l. Black Knight Enterprises Ltd. Dunlop Sports Co Ltd. Amer Sports
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Global Squash Rackets Market
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