Eastern Asia: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Eastern Asia

The East Asian tennis and badminton rackets market fell to $X in 2022, which is down by -13.1% against the previous year. Overall, consumption showed a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tennis, Badminton Or Similar Rackets in Eastern Asia

In value terms, tennis and badminton rackets production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 54% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports in Eastern Asia

In 2022, overseas shipments of tennis, badminton or similar rackets increased by 5.6% to X units, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 42% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, tennis and badminton rackets exports surged to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +94.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 54%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

China prevails in exports structure, accounting for X units, which was approx. 89% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), comprising a 4.8% share of total exports. Hong Kong SAR (X units) and Japan (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, Japan (+14.4%) and Taiwan (Chinese) (+3.7%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +14.4% from 2012-2022. By contrast, Hong Kong SAR (-8.7%) illustrated a downward trend over the same period. China (+7.6 p.p.) and Japan (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -9.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tennis and badminton rackets supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by Japan ($X), with a 9.6% share of total exports. It was followed by Hong Kong SAR, with a 7.4% share.

In China, tennis and badminton rackets exports expanded at an average annual rate of +5.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+8.4% per year) and Hong Kong SAR (-8.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, with an increase of 19% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tennis, Badminton Or Similar Rackets

Imports in Eastern Asia

In 2022, supplies from abroad of tennis, badminton or similar rackets increased by 16% to X units, rising for the sixth year in a row after two years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tennis and badminton rackets imports fell to $X in 2022. Overall, imports, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units), distantly followed by Japan (X units), South Korea (X units), Hong Kong SAR (X units) and Taiwan (Chinese) (X units) represented the main importers of tennis, badminton or similar rackets, together committing 100% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +25.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported tennis, badminton or similar rackets in Eastern Asia, comprising 42% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 20% share of total imports. It was followed by Japan, with a 20% share.

In China, tennis and badminton rackets imports expanded at an average annual rate of +11.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-12.9% per year) and Japan (-3.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, falling by -15.8% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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