Singapore: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Singapore

The Singaporean tennis and badminton rackets market was finally on the rise to reach $X in 2022, after three years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Tennis, Badminton Or Similar Rackets

Exports from Singapore

In 2022, exports of tennis, badminton or similar rackets from Singapore declined notably to X units, waning by -21.1% on the previous year. In general, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 124% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, tennis and badminton rackets exports dropped modestly to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +91.0% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 92%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Malaysia (X units) was the main destination for tennis and badminton rackets exports from Singapore, with a 43% share of total exports. Moreover, tennis and badminton rackets exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X units), threefold. India (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-19.3% per year) and India (+7.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for tennis, badminton or similar rackets exports from Singapore, comprising 45% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Hong Kong SAR, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-6.7% per year) and Hong Kong SAR (-2.5% per year).

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, jumping by 26% against the previous year. In general, the export price recorded resilient growth. The pace of growth was the most pronounced in 2018 an increase of 116% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports into Singapore

In 2022, supplies from abroad of tennis, badminton or similar rackets increased by 5.7% to X units, rising for the second consecutive year after three years of decline. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tennis and badminton rackets imports rose modestly to $X in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +93.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 87%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of tennis and badminton rackets to Singapore, accounting for a 69% share of total imports. Moreover, tennis and badminton rackets imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.0% per year) and Taiwan (Chinese) (+3.1% per year).

In value terms, the largest tennis and badminton rackets suppliers to Singapore were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 97% share of total imports. Vietnam lagged somewhat behind, accounting for a further 1.1%.

Among the main suppliers, Vietnam, with a CAGR of +26.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tennis and badminton rackets import price amounted to $X per unit, which is down by -2.1% against the previous year. In general, the import price saw a mild shrinkage. The pace of growth was the most pronounced in 2021 when the average import price increased by 28%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($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 (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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