Overview of the Global Market for Tennis, Badminton Or Similar Rackets

Market Size for Tennis, Badminton Or Similar Rackets

In 2022, the global tennis and badminton rackets market increased by 22% to $X, rising for the third year in a row after three years of decline. Over the period under review, consumption, however, showed a pronounced curtailment. Global consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Tennis, Badminton Or Similar Rackets

In value terms, tennis and badminton rackets production fell slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, global production growth remained at a lower figure.

Exports of Tennis, Badminton Or Similar Rackets

Exports

In 2022, shipments abroad of tennis, badminton or similar rackets increased by 10% 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 +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 38% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, tennis and badminton rackets exports skyrocketed to $X in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +92.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 56% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was near 72% of total exports in 2022. The following exporters - the Netherlands (X units), Spain (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units), France (X units), Japan (X units) and Germany (X units) - together made up 22% of total exports.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets exports from China stood at +4.7%. At the same time, Spain (+49.8%), the Netherlands (+24.1%), Japan (+14.4%), Germany (+6.5%), France (+4.4%) and Taiwan (Chinese) (+3.7%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +49.8% from 2012-2022. By contrast, Hong Kong SAR (-8.7%) illustrated a downward trend over the same period. While the share of Spain (+4.2 p.p.) and the Netherlands (+3.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-8.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tennis and badminton rackets supplier worldwide, comprising 49% of global exports. The second position in the ranking was held by France ($X), with a 6.6% share of global exports. It was followed by Japan, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+4.0% per year) and Japan (+8.4% per year).

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, rising by 7.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.6%), while the other global leaders experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports

In 2022, supplies from abroad of tennis, badminton or similar rackets increased by 22% to X units, rising for the sixth year in a row after two years of decline. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, tennis and badminton rackets imports surged to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +79.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 48%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, India (X units) and the United States (X units) were the key importers of tennis, badminton or similar racketsaround the world, together generating 34% of total imports. France (X units) took the next position in the ranking, followed by the Netherlands (X units), Germany (X units), Spain (X units) and China (X units). All these countries together held approx. 27% share of total imports. Japan (X units), Vietnam (X units), Malaysia (X units), Indonesia (X units), South Korea (X units) and Hong Kong SAR (X units) held a minor share 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 the Netherlands (with a CAGR of +35.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Spain ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 30% share of global imports. Germany, China, the Netherlands, Malaysia, Hong Kong SAR, Japan, India, Vietnam, Indonesia and South Korea lagged somewhat behind, together accounting for a further 34%.

The Netherlands, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average tennis and badminton rackets import price stood at $X per unit in 2022, remaining constant against the previous year. In general, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20%. As a result, import price attained the peak level of $X per unit. From 2017 to 2022, the average import prices remained at a somewhat 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 Spain ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.0%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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