Global Tennis Strings Market By Product (Natural Gut Strings, Nylon Strings, Kevlar Strings, and Others), By Application (Trans Competition, Training And Entertainment), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028
- Published date: Dec 2023
- Report ID: 29999
- Number of Pages: 360
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Market Overview
The Global Tennis Strings Market size is expected to be worth around USD 90.3 Million by 2033, From USD 63.4 Million by 2023, growing at a CAGR of 3.60% during the forecast period from 2023 to 2032.
Tennis strings are the strings, used for the manufacturing of tennis rackets. The variation in the strings depends upon the material used for the manufacturing of strings. Tennis strings are primarily of two materials, either synthetic or natural, depending upon the raw material sources.
The global tennis strings market is expected to see decent growth in the forecast period owing to the increase in the number of tennis events worldwide and the promotion of sport by various governmental and non-governmental organizations. Also, the growth of cardio tennis and youth tennis is responsible for promoting tennis strings market growth.
Owing to the rising number of tennis competitions and events globally is the factor fueling the target market growth. Also, an increase in the number of tennis associations to promote sports and a growing fascination towards leisure time sports and activities are aiding the growth rate.
Other factors such as a rise in disposable income, advancements in cardio tennis and youth tennis, and an increase in disposable income, promote people to spend more on sports. Rising focus on extra-curricular activities in schools and colleges and increasing awareness for fitness and health consciousness among people is expected to promote the growth of the global tennis strings market.
Key Takeaways
The Tennis String Market forecasts steady growth, expected to elevate from USD 63.4 million in 2023 to USD 90.3 million in 2033, exhibiting a Compound Annual Growth Rate (CAGR) of 3.60%.
- Regional Dominance: North America emerges as the dominant region, commanding a significant 32.6% share, indicating substantial market presence and demand within the North American market.
- Segmentation Insights:
- Type Preference: Natural Gut String leads with a noteworthy 38.6% share, emphasizing its popularity among tennis players due to its unique playing characteristics.
- Application Focus: The competition application holds a substantial 51.6% share, highlighting the prevalent use of tennis strings in competitive tennis matches.
Market Dynamics and Industry Analysis:
- Steady Market Expansion: The market displays a consistent growth trajectory, influenced by the continuous demand for high-quality strings, particularly in competitive tennis.
- North American Market Dominance: North America’s dominance signifies a strong market landscape and substantial demand for tennis strings within the region.
- Preference for Natural Gut Strings: The prominence of natural gut strings underscores the unique qualities desired by competitive tennis players for enhanced performance.
This analysis underscores the Tennis String Market’s steady growth, driven by regional dominance in North America, the prevalent use of natural gut strings, and their significance in competitive tennis applications.
The consistent growth rate and segmentation dominance signal a stable market with the potential for sustained expansion and continued relevance in the tennis equipment industry.
Driving Factors
The Tennis String Market is propelled by various driving factors. Player preference for enhanced performance drives demand for strings with specific characteristics like spin, control, or power. Technological advancements in string materials and manufacturing processes offer improved durability and playability, influencing product choices.
Professional endorsements and tournament visibility impact consumer decisions, favoring strings used by top players. The growth of tennis as a recreational sport expands the market for strings catering to amateur players’ diverse needs. Moreover, customization trends, allowing players to tailor string setups to their playing styles, contribute to the market’s growth by offering personalized experiences on the court.
Restraining Factors
Several restraining factors affect the Tennis String Market. Intense competition among brands leads to price wars, impacting profit margins and market stability. Product saturation and similarity in string offerings limit differentiation, hindering market expansion. Economic downturns and reduced participation in tennis due to lifestyle changes affect string sales.
Moreover, players’ difficulty in assessing string performance before purchase and the time-consuming process of finding the right string restrains quick adoption. Inconsistent regulations regarding string use in tournaments pose challenges for manufacturers to create universally accepted products. These factors collectively create hurdles in sustaining consistent growth within the tennis string market.
Growth Opportunities
The Tennis String Market presents growth opportunities amidst challenges. Innovations in string technology, such as advanced materials and construction methods, offer enhanced performance attributes, catering to evolving player needs. Expansion into emerging markets with increasing tennis participation, particularly in Asia-Pacific and Latin America, taps into new consumer segments.
Customization trends, allowing tailored string setups for individual player preferences, foster market growth by offering personalized experiences. Collaborations with tennis academies and coaches for endorsements and recommendations amplify brand visibility and credibility. Moreover, the rise of tennis as a fitness choice and the growing interest in amateur tournaments globally present avenues for sustained growth in the tennis string industry.
Trending Factors
In the Tennis String Market, several trending factors shape consumer preferences and industry dynamics. Advanced string technologies offering improved durability, spin, and control influence player choices, emphasizing performance-driven selections. Customization trends, including hybrid string setups and tension adjustments, cater to individual player preferences, enhancing versatility.
Sustainable and eco-friendly string materials gain traction, aligning with environmental consciousness among players. Technological integrations, like data-tracking sensors within strings, appeal to tech-savvy athletes seeking performance analytics. Moreover, endorsements from professional players and collaborations with tennis academies and clubs significantly impact trends, driving consumer adoption of specific string brands and types within the evolving tennis string market.
Key Market Segments
By Type
- Natural Gut String
- Multifilament String
- Synthetic Gut String
- Monofilament String
By Application
- Competition
- Training
- Entertainment
Regional Analysis
North America dominates the market by 32.6%. The Tennis String Market displays diverse regional trends shaping consumer demands. In North America, a performance-oriented market favors strings emphasizing control and power, influenced by a strong tennis culture and professional player endorsements. Europe focuses on versatile strings catering to a wide range of player styles, blending functionality, and innovation.
Asia-Pacific experiences growth due to increasing tennis participation, favoring strings offering durability and spin for amateur players. Latin America showcases a burgeoning interest in tennis, preferring affordable yet reliable strings. The Middle East & Africa reflect an emerging market with growing tennis communities, witnessing a rising demand for diverse and accessible tennis string options.
Key Regions and Countries Covered in the Report:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
By Revenue
However, Lesser adoption of the sport in the Eastern world, as compared to the Western world is expected to hamper the growth rate. The fewer tennis courts in some localities and increasing fascination for indoor entertainment like laptops or smartphones a major factors expected to hinder the growth of the target market.
Global Tennis Strings market is segmented based on product, application, and region. Based on the product, the market is segmented into natural gut strings, nylon strings, kevlar strings, pet strings, and man-made gut strings.
The nylon strings segment accounts for the majority share in the global tennis strings market, while the natural gas is expected to register the highest growth rate over the forecast period. Based on application, the market is segmented into competition, training, and entertainment. The competition accounts for a majority share of the global tennis strings market.
By Application
Based on region, the market is segmented into the United States, China, Europe, Japan, Southeast Asia, India, and the Rest of the World. The United States accounts for the majority share in the global tennis strings market, followed by Europe owing to an increase in tennis events worldwide. Emerging economies, such as China and India, are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan, Southeast Asia, and the rest of the world are expected to register stable growth over the forecast period.
The research report on the global tennis strings market includes profiles of some of the major companies such as Babolat Vs S.A, Head B.V., Lexicon Industries, YONEX Co., Ltd., Amer Sports Corporation, Ashaway Line & Twine Mfg. Co, Sumitomo Rubber Industries, Ltd, Newell Brands Inc, and other prominent key players
The Tennis String Market is led by key players dominating the industry landscape. Brands like Babolat, known for their innovative string technologies, hold a significant market share, offering a wide range of strings catering to diverse player needs. Wilson, a prominent player, specializes in durable and high-performance strings, influencing professional and amateur players alike.
Luxilon stands out for its premium polyester strings favored by professional players for power and control. Tecnifibre excels in producing multifilament strings known for their comfort and playability. Yonex, renowned for its innovative string designs, also contributes significantly, solidifying its position in the competitive tennis string market.
Key Market Players included in the report:
- Babolat VS S.A.
- Amer Sports
- HEAD Sport GmbH
- Luxilon Industries NV
- Prince Sports, Inc.
- Gamma Sports
- Yonex Co., Ltd.
- Ashaway Line & Twine Mfg. Co.
- Société Nouvelle Télésiège
- Völkl Tennis GmbH
- Solinco Sports LLC
- Pacific Holding GmbH
Report Scope:
Report Features Description Market Value (2023) USD 36.4 Million Forecast Revenue (2032) USD 90.30 Million CAGR (2023-2032) 3.60% Base Year for Estimation 2023 Historic Period 2016-2023 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Type(Natural Gut String, Multifilament String, Synthetic Gut String, Monofilament String), By Application(Competition, Training, Entertainment) Regional Analysis North America: The US and Canada; Europe: Germany, France, The UK, Italy, Spain, Russia & CIS, and the Rest of Europe; APAC: China, Japan, South Korea, India, ASEAN, and the Rest of APAC; Latin America: Brazil, Mexico, and Rest of Latin America; Middle East & Africa: GCC, South Africa, United Arab Emirates, and Rest of Middle East & Africa. Competitive Landscape Babolat VS S.A., Amer Sports, HEAD Sport GmbH, Luxilon Industries NV, Prince Sports, Inc., Gamma Sports, Yonex Co., Ltd., Ashaway Line & Twine Mfg. Co., Société Nouvelle Télésiège, Völkl Tennis GmbH, Solinco Sports LLC, Pacific Holding GmbH Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User license (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Tennis String Market Size in the Year 2023?The Global Tennis String Market size was USD 63.4 Million by 2023, growing at a CAGR of 3.60%.
What is the Tennis String Market CAGR Estimated During the Forecast Period?The Global Tennis String Market size is growing at a CAGR of 3.60% during the forecast period from 2023 to 2032.
What is the Tennis String Market Size Estimated During the Forecast Period?The Global Tennis String Market size is expected to be worth around USD 90.3 Million during the forecast period from 2023 to 2032.
- Babolat VS S.A.
- Amer Sports
- HEAD Sport GmbH
- Luxilon Industries NV
- Prince Sports, Inc.
- Gamma Sports
- Yonex Co., Ltd.
- Ashaway Line & Twine Mfg. Co.
- Société Nouvelle Télésiège
- Völkl Tennis GmbH
- Solinco Sports LLC
- Pacific Holding GmbH
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