Global Tennis Equipment Market: Overview
The demand in the global tennis equipment market is expected to grow at a rapid rate in the times to come. The commercialization of sport has generated huge revenues in several countries and economies. It is imperative that market participants decipher the propensities of tennis tournaments and of players to exploit the market. Tennis has grown as a sport in several new territories, creating new revenues in the global tennis equipment market. Tennis tournaments held across the world attract huge investments from key entities. These revenues could spill over into the global tennis equipment market. Hence, the total volume of revenue in the global tennis equipment market is expected to increase in the coming times.
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In this review, several trends and propensities relating to the growth of the global tennis equipment market have been stated. It is logical to expect that sports marketing will play a vital role in driving sales in the global tennis equipment market. The use of tennis shoes and bracelets has played an important role in the growth of sales in the market. It is imperative for tennis players to manufacture headbands and dresses that can support the growth of the market.
Global tennis equipment market: notable developments
Several key trends have contributed to the growth of the global tennis equipment market in recent times.
- The endorsement of tennis equipment brands and companies by professional players and stars has been instrumental in increasing the companies’ sales. Market players have been on the lookout for promoting their equipment and aids through celebrity endorsement and event sponsorship. This trend could work to the advantage of functional profitable sellers in the market.
- Several bodies such as the All India Tennis Association (AITA) have set up working groups to develop regulations for the management of sport in times of COVID-19. This factor could cause local suppliers to change their dynamics and manufacturing trends. The revenue index of the global tennis equipment market will improve as new investments come into the market.
- YONEX Co., Ltd.
- Nike, Inc.
- Wilson Sporting Goods
- Adidas AG
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Global tennis equipment market: growth drivers
- Income generation in the tennis fraternity
Tennis has become one of the highest earning sports and has also caught the attention of players and punters. The growing popularity of the sport has led young people to learn tennis skills and play the sport in professional arenas. This trend has created a huge demand for tennis rackets, shoes and kits. There has been an increase in the number of young people who have subscribed to tennis club memberships over the past decade. In addition, the establishment of new clubs and companies that train young people in tennis has also created new growth opportunities in the global tennis equipment market.
- Role of professional tennis players
The high cost of tennis equipment did not deter enthusiastic young people from Europe and North America from playing the sport. Training machines that can dispel the tennis ball at blazing speeds have gained popularity among professional tennis players. In addition, other equipment such as headbands and knee pads have also attracted new consumers in recent times. The sophistication associated with the game of tennis requires players to use top of the line equipment and proper gear. This trend will create new growth opportunities in the global tennis equipment market. Investments in new technologies such as bullet dispensers and protective equipment have opened up new avenues for market expansion.
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