Squash Rackets Market
Squash Rackets Market Analysis By Construction (Open Throat, Closed Throat, Hybrid), By Balance (Head Heavy, Head Light, Even), By Weight (Heavy, Light), By Player (Beginner, Intermediate, Advanced), By Frame Material (Aluminum, Composite), By Sales Channel (Independent Sports Outlets, Franchised Sports Outlets, Sports Retail Chains, Modern Trade, Direct-to-Customer Online, Third-party Online, Direct-to-Customer Institutional) & By Region – Global Market Insights 2023 to 2033
Analysis of Squash Rackets Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Squash Rackets Market Outlook (2023 to 2033)
The global squash rackets market reached a value of US$ 11.40 billion in 2023 after having recorded a CAGR of 2.7% from 2018 to 2022, as per a recently published study by Fact.MR. The global market is forecasted to advance at a CAGR of 5.1% and reach a size of US$ 18.75 billion by 2033-end.
Increasing popularity of squash across the globe is predicted to serve as one of the prominent factors to boost demand for squash rackets. In addition, the increasing number of world championships and tournaments organized by international sports associations, including the Professional Squash Association (PSA) and World Squash Federation (WSF), are also stimulating the participation of people in squash.
- Sales of composite squash rackets are forecasted to rise at a CAGR of 4.9% and reach a market valuation of US$ 14.83 billion by 2033.
- The South Korean market is predicted to expand at a CAGR of 3.8% and reach US$ 581.37 million by 2033.
- Demand for squash rackets in Japan is estimated to increase at a CAGR of 4.9% and reach US$ 956.45 million by 2033.
Constant product innovations by industry players are projected to have a positive impact on the demand for squash rackets. Growing awareness related to the importance of improved flexibility and muscular strength is forecasted to drive market growth opportunities over the coming 10 years.
Governments from different countries including France, the United States, Germany, the United Kingdom, China, India, Australia, and Malaysia are taking initiatives to promote sports with the implementation of favorable policies and initiatives. The rising awareness about various health benefits of playing squash is increasing people’s participation in this recreational activity.
Increasing initiatives by private and government bodies to revive sports culture and develop a strong framework for multiple types of sports are having a positive impact on market growth opportunities. Rising demand for carbon fiber-based rackets due to their high strength and durability are also influencing their sales.
Growing health consciousness, inclination toward e-Commerce sales channels, adoption of numerous smart strategic marketing activities, and increased participation in sports are estimated to affect growth opportunities over the coming 10 years.
Fact.MR, a market research and competitive intelligence provider, gave a detailed insight into the global market in its recently published research report. It provides information about key market trends, regional analysis, new developments, etc.
Squash Rackets Market Size (2023)
US$ 11.40 Billion
Forecasted Market Value (2033)
US$ 18.75 Billion
Global Market Growth Rate (2023 to 2033)
China Market Growth Rate (2023 to 2033)
United States Market Value (2033)
US$ 4.93 Billion
United Kingdom Market Value (2033)
US$ 918.94 Million
Sales Growth of Open Throat Rackets (2023 to 2033)
Key Companies Profiled
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Which Factors are Positively Influencing the Demand for Squash Rackets Globally?
“Increasing Penetration of Squash Competitive Level Games”
In recent years, squash has been gaining attention as one of the prominent recreational activities. Various professionals are also taking an interest in this sport. The increased inclination toward squash is noticed by the Professional Squash Association with an exposure of the sport on television for its squash tournaments in partnership with many sports channels, including beIN Sport, Astro, Sky Sports NZ, Fox Sports Australia, Ten Sports, Tennis Channel, and Super Sports.
These factors are indicative of the rising interest of the public in numerous sports activities and are therefore projected to boost demand for squash rackets from advanced-, intermediate-, and beginner-level players.
“Improved Materials Used in Squash Rackets Enhancing Players’ Performance”
Rising demand for various lightweight equipment during squash playing is one of the key influencers contributing to market growth. The majority of professional athletes are adopting lightweight squash rackets to improve their performance.
Carbon fiber is one such popular material used as a replacement for wood and steel. Increased competition among prominent players is pushing them toward product differentiation based on technology, design, and performance.
For instance :
- In 2020, Tecnifibre launched lightweight rackets that are named as X-Speed 125 rackets and Tecnifibre Carboflex Cannonball 125. They allow superior control and handling.
Consumers are becoming aware as well as responsible for their environmental footprints. Rising demand for eco-friendly products along with the growing utilization of recyclable plastic is also predicted to fuel demand for squash rackets globally.
“Push towards Olympics Creating Prominent Growth Potential”
The Olympic Games led to the increased importance of squash because of its role in legitimizing it as a sport as well as a relevant organization. For the coming 2028 Olympics, squash is shortlisted with the other 8 games to present their case, which is expected to increase sales of squash rackets in the market.
What’s Restraining Market Growth for Squash Rackets to Some Level?
“High Cost of Squash Rackets and Potential Injuries in Game”
High costs of squash equipment along with concerns about potential injuries are predicted to obstruct market growth opportunities. The intense lateral movements in the game can cause long-term joint and knee problems that are projected to create challenges for market players.
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How are Start-ups Contributing to Overall Market Growth?
“Inclination of Start-ups towards Eco-friendly Manufacturing of Rackets”
Start-ups are investing in the manufacture of eco-friendly products due to the rising awareness among players about their environmental footprints. The use of organic and water-based adhesives and coatings and the growing adoption of recycled plastic in the production of squash rackets are predicted to help new entrants in contributing to the market revenue.
Why is the United States an Investment-worthy Market for Squash Racket Manufacturers?
“Growing Number of Squash Tournaments Creating Higher Demand for Rackets”
Demand for squash rackets in the United States is forecasted to expand at a CAGR of 4.5% and reach US$ 4.93 billion by 2033.
- According to U.S. Squash, people from the United States displayed significant growth in squash participation compared to other countries. This official body has set up numerous programs, including the US Squash Scholar Athlete, the U.S. Junior Squash Championships, the U.S. Junior Open Squash Championships, etc., to increase the popularity of squash games.
Growing junior squash in the United States is predicted to bode well for the rising participation in the sport in the coming 10 years. Their increased participation results in generating opportunities for regional players.
What’s Propelling the Sales of Squash Rackets in the United Kingdom?
“Squash: Thriving Sport in the United Kingdom”
Sales of squash rackets in the United Kingdom are predicted to increase at a CAGR of 3.9% and reach a valuation of US$ 918.94 million by the end of the forecast period.
Squash is a thriving sport in the United Kingdom as it is the country of origin for this sport. Many people from the country are participating in this sport at a competitive level and for recreational activities. Various colleges and schools are offering squash in the country.
New product launches along with the production of rackets with high-power features by prominent players in the United Kingdom are projected to bolster growth opportunities.
Why are Sales of Squash Rackets High in Japan?
“Growing Popularity of Squash as Winter Recreational Activity”
Demand for squash rackets in Japan is forecasted to increase at a CAGR of 4.9% and reach a value of US$ 956.45 million by the end of 2033. Rising traction for squash as a casual activity in Japan is predicted to fuel demand for squash rackets.
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Which Frame Material is Popular in Squash Rackets?
“High-tension Application & Improved Weight Distribution of Composite Rackets”
Sales of composite squash rackets are projected to expand at a 4.9% CAGR and reach a valuation of US$ 14.83 billion by 2033. Characteristics of composite such as single-piece products, high-tension applications, better absorption of vibrations, and improvements in weight distribution are responsible for its wider utilization in the production of squash rackets.
Graphite composites and carbon fiber are some popular materials that are used by manufacturers of squash rackets.
- In 2019 and 2020, Dunlop and Tecnifibre unveiled their range of squash rackets manufactured from carbon fiber composite.
Which Construction Type of Squash Rackets is Gaining Prominence Globally?
“Higher Power Generation Capabilities of Open Throat Squash Rackets Propelling Their Demand”
Demand for open throat variants of squash rackets is predicted to expand at a CAGR of 5.7% and reach US$ 9.96 billion by 2033.
Availability of squash rackets in teardrop designs is attracting the attention of players. Open throat rackets are gaining popularity due to their high levels of power generation capabilities and larger sweet spots. The wide margin between the string contacts and the frame is contributing to their rising demand.
Which Balance Type Racket is Most Sought After?
“Rising Adoption of Head Light Rackets Due to Their Weight Distribution According to Player’s Needs”
Based on their playing style, players can opt for head heavy, head light, and balance rackets. Demand for head light rackets is predicted to increase due to their weight distribution toward the handle. They are the most appropriate for maneuverability in players’ attacking styles with short swings.
Which Player Level of Squash Rackets is Driving Substantial Market Growth?
“Thriving Demand for Intermediate Rackets Due to Superior Tradeoff Between Power and Maneuverability”
Manufacturers of squash rackets are offering products with different levels of expertise. Growing inclination toward squash as a significant recreational sport is boosting sales of intermediate- and beginner-level rackets in comparison to advanced versions.
Demand for beginner-level rackets is increasing due to their economic costs but they are heavier and poor in maneuverability. However, intermediate rackets are opted for by professionals as well as casual players because of the superior tradeoff between power and maneuverability.
Key Market Players
Key providers of squash rackets are investing in strengthening their supply chain management systems, new developments, maintaining product standards, providing quality products, etc.
The squash rackets market is moderately fragmented and competitive in nature due to the presence of various players. Key manufacturers are entering into collaborations, acquisitions, geographical expansion, etc.
For instance :
- In May 2019, The Squash Rackets Federation of India collaborated with HCL for the launch of the Squash Podium Program intending to boost the importance of the game in the country and bring improvements in coaching standards.
- In October 2019, St. James entered into a partnership with TaylorMade and Tecnifibre to expand the resources required for sports.
Prominent players in the squash rackets market include HEAD, Ektelon LLC, Amer Sports, Prince Global Sports LLC, Dunlop Sports Co Ltd., Tecnifibre, Soccer International Pvt. Ltd., Oliver Sports & Squash GmbH, and Kamachi, Black Knight Enterprises Ltd.
Segmentation of Squash Rackets Industry Research
By Construction :
- Open Throat
- Closed Throat
By Balance :
- Head Heavy
- Head Light
By Weight :
By Player :
By Frame Material :
By Sales Channel :
- Independent Sports Outlets
- Franchised Sports Outlets
- Sports Retail Chains
- Modern Trade
- Direct-to-Customer Online
- Third-party Online
- Direct-to-Customer Institutional
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global squash rackets market was valued at US$ 10.85 billion in 2022.
The market for squash rackets is predicted to expand at a CAGR of 5.1% through 2033.
The Chinese squash rackets market is forecasted to reach US$ 4.27 billion by 2033.
Sales of squash rackets in the United States are projected to increase at a CAGR of 4.5% through 2033.
Demand for squash rackets in the United Kingdom is estimated to reach a market value of US$ 918.94 million by 2033.
Sales of open throat rackets are predicted to reach US$ 9.96 billion by 2033.
The squash rackets market is forecasted to reach US$ 18.75 billion by the end of the projected period.