GCC: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in GCC

In 2022, the GCC tennis and badminton rackets market increased by 41% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a prominent expansion. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Tennis, Badminton Or Similar Rackets in GCC

In value terms, tennis and badminton rackets production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 4% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports in GCC

Tennis and badminton rackets exports dropped remarkably to X units in 2022, which is down by -19.4% against the previous year's figure. Over the period under review, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 105% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, tennis and badminton rackets exports fell markedly to $X in 2022. In general, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of 241%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporting country with an export of about X units, which reached 64% of total exports. Saudi Arabia (X units) took the second position in the ranking, distantly followed by Oman (X units). All these countries together took near 31% share of total exports. Kuwait (X units) held a relatively small share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -7.0% from 2012 to 2022. At the same time, Oman (+47.6%) and Saudi Arabia (+14.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +47.6% from 2012-2022. By contrast, Kuwait (-16.4%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+17 p.p.) and Oman (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kuwait (-10.2 p.p.) and the United Arab Emirates (-16.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest tennis and badminton rackets supplier in GCC, comprising 61% of total exports. The second position in the ranking was held by Oman ($X), with a 20% share of total exports. It was followed by Saudi Arabia, with a 14% share.

In the United Arab Emirates, tennis and badminton rackets exports shrank by an average annual rate of -7.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+50.8% per year) and Saudi Arabia (+8.6% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, declining by -35.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 67% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Oman ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+19.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tennis, Badminton Or Similar Rackets

Imports in GCC

In 2022, overseas purchases of tennis, badminton or similar rackets increased by 22% to X units, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 205%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, tennis and badminton rackets imports skyrocketed to $X in 2022. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 199% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the largest importer of tennis, badminton or similar rackets, mixing up 77% of total imports. Kuwait (X units) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (5.3%). Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets imports into the United Arab Emirates stood at +7.7%. At the same time, Qatar (+35.6%), Kuwait (+22.0%) and Bahrain (+18.9%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +35.6% from 2012-2022. Kuwait (+8.8 p.p.), Qatar (+4.7 p.p.) and Bahrain (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -15% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tennis, badminton or similar rackets in GCC, comprising 63% of total imports. The second position in the ranking was held by Qatar ($X), with a 19% share of total imports. It was followed by Kuwait, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at +14.3%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+34.1% per year) and Kuwait (+23.7% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, rising by 17% against the previous year. Over the period under review, the import price continues to indicate mild growth. The growth pace was the most rapid in 2016 an increase of 180% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform