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.
One of the key elements that will drive up demand for squash rackets is projected to be the growing global popularity of squash. The Professional Squash Association (PSA) and World Squash Federation (WSF), among other international sports organizations, are organizing more and more world championships and tournaments, which is encouraging more individuals to play squash.
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Composites Ubiquitous, Graphite on the Trail:
Albeit cheaper rate of aluminum, frames made of this material becomes heavy (up to 200g), creating higher vibrations when in contact with the ball. The report finds that the end users of squash rackets have marked high preference for rackets made of composite frame material. With the growing inclination towards light weight squash rackets, the demand for composites has increased at a significant rate. Composites with a combination of carbon and titanium offer better grip, flexibility and movement. On the contrary, before the advent of composites, the use of graphite for squash rackets was significant, with graphite frames being second in line after composites.
The preference for light weight composite frame squash rackets has further led to increased inclination towards head light racket balance owing to its enhanced maneuverability as weight lies more towards the handle than the head. Squash rackets with a head light balance accounted for more than 50 percent share and are likely to outsell head heavy and evenly balanced squash rackets during the period of assessment
Competitive landscape:
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
- 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 :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Squash Rackets include:
- What is the key strategy deployed by large players to maximize Squash Rackets Market growth?
- What are the main challenges faced by players in the Squash Rackets market Demand?
- With the advent of technological advancement, how will the Squash Rackets market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Squash Rackets market size
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