The global squash rackets market was valued at USD 2.1 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. The popularity of squash is steadily rising, with the number of players and tournaments growing across the world. The increasing popularity of the sport has led to an increase in demand for squash rackets. The rising trend of physical fitness has also led to an increase in awareness about squash. As a result, many people are opting for the sport, which is driving the demand for squash rackets.

The rising demand for advanced squash rackets among professional players is expected to create lucrative opportunities for the market players. Manufacturers are introducing new squash rackets, which are lighter and offer better performance. For instance, in November 2021, HEAD released the new Graphene 360+ Radical Pro squash racket, which is said to provide more power and control than the previous model. Furthermore, the growing popularity of online platforms to purchase sports equipment is expected to drive the demand for squash rackets in the near future.

Manufacturers are also focusing on launching squash rackets specifically designed for children. For instance, in March 2022, HEAD released the Junior Radical Pro, which is the first squash racket designed for children. The racket features a low-density frame and a small grip, with a lighter weight for better maneuverability. In addition, the increasing number of squash tournaments and events around the world is expected to create lucrative opportunities for the market players.

The rising disposable income among the middle-class population is propelling the demand for squash rackets. Consumers are increasingly opting for premium squash rackets to enjoy better performance. Furthermore, the increasing number of squash academies is another significant factor driving the demand for squash rackets. The growing number of squash academies is helping to spread awareness about squash, which is leading to an increased demand for squash rackets.

The availability of squash rackets in various colors, sizes, and designs to match the requirement of the consumers is further boosting the demand for squash rackets. The emergence of customized squash rackets is expected to create lucrative opportunities for the market players. For instance, in April 2021, Prince released a new series of customizable squash rackets with a variety of colors and designs to choose from.

The stringed squash rackets segment held the largest market share of around 59.2% in 2020. Growing popularity of squash as a competitive sport and various other health benefits associated with it are some of the key factors driving the growth of the stringed squash rackets segment. Increasing participation of individuals in squash tournaments and events held across the globe has been driving the demand for stringed squash rackets. According to an article published by the World Squash Day, in November 2020, over 40 countries participated in the World Squash Day 2020.

The non-stringed squash rackets segment is anticipated to expand at the highest CAGR of 8.2% during the forecast period. The rise in the popularity of non-stringed squash rackets, especially among amateur players, is driving the demand for non-stringed squash rackets. According to a survey published by the Professional squash Association, in November 2020, around 59% of amateur players preferred non-stringed squash rackets. Furthermore, the increasing number of squash academies and fitness centers promoting squash as a sport is another factor propelling the growth of the non-stringed squash racket market.

The specialty stores segment captured the major share of over 35.4% in 2022. The growth of the segment is mainly driven by the increasing presence of specialty stores in the sports industry. According to a survey by Statista in 2020, specialty stores are the leading destination for purchasing sport equipment, with 40 percent of respondents preferring to buy from such stores. Specialty stores are preferred over other channels as they provide a wide range of squash rackets, helping customers make the right purchase decision.

The online segment is anticipated to expand at the highest CAGR of 12.6% over the forecast period. The development of the e-commerce industry has been rapid and consumers are increasingly relying on online platforms for purchasing sport equipment, including squash rackets. Companies are also launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in May 2021, Yonex launched an online store in India, providing a wide range of products including squash rackets. The store offers a ‘try before you buy’ option to customers, allowing them to experience the product before making the purchase.

The beginner segment held the largest revenue share of 91.2% in the year 2022. The increasing popularity of squash for recreational purposes and the increasing sports activities among the youth are major factors driving the segment. Squash is a relatively inexpensive sport and does not require expensive equipment, which makes it a favorable sport for beginners. The lower cost of beginner squash rackets is also a major factor driving its adoption. Furthermore, the increasing number of squash clubs across the world and the rising demand for squash rackets from the rental market are expected to drive the growth of the beginner segment in the forecast period.

The intermediate segment is anticipated to expand at the highest CAGR of 8.6% over the forecast period. The increased availability of advanced technology in squash rackets such as carbon fiber and graphite frames is likely to increase the demand for intermediate squash rackets in the forecast period. Furthermore, the increasing demand for lightweight squash rackets is likely to contribute to the growth of the intermediate segment. The increasing number of squash academies across the world is also expected to boost the demand for intermediate squash rackets in the forecast period.

Europe is projected to be the largest regional market for squash rackets in the coming years. The presence of key market players, such as Head and Wilson, in the region is the key factor driving the growth of the market. Furthermore, the popularity of squash as a sport in the region is also fueling the demand for squash rackets. For instance, according to the Squash Rackets Association, the number of squash players in the U.K. increased from 1.3 million in 2020 to 2.2 million in 2022.

North America is projected to witness the second-fastest growth in the coming years. The rising popularity of squash as a sport in the region is expected to be a key factor driving the growth of the market. In addition, the presence of well-known players, such as Tecnifibre and Dunlop, in the region is also expected to contribute to the growth of the market. For instance, in August 2021, Tecnifibre launched the Squash Air Shaft racket in the U.S.

In this part of the squash rackets products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your squash rackets products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for a squash rackets products business comes from product sales and services. This includes the sale of squash rackets, squash rackets accessories, squash rackets apparel, and other related products. Here you will also find a list with a description of other possible sources of profit such as membership fees, sponsorship, and advertising.

Projecting Expenses
In this section, all the regular expenses related to keeping the squash rackets products business running will be described. The list of operating expenses includes wages, rent, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, you should also include in your budget any costs related to product development and testing, as well as costs associated with marketing and sales strategies.

Some of the key companies operating in the squash rackets market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In March 2022, Wilson Sporting Goods Co. launched the Blade series of squash rackets with a new design and improved grip.

– In June 2022, Dunlop Sports Group launched the Pro Tour series of squash rackets designed for professional players.

– In August 2022, Head launched the Graphene Touch series of squash rackets to provide better control and power.

Some of the prominent players in the squash rackets market include:

– Wilson Sporting Goods Co.
– Dunlop Sports Group
– Head
– Prince Sports Group
– Tecnifibre
– Karakal Sports
– Salming Sports
– Harrow Sports
– Yonex Co., Ltd.
– Black Knight International Ltd.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global squash racket products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Rackets
– Strings
– Grips
– Bags
– Other Accessories

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Entry-Level
– Intermediate
– Professional

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Factors Driving the Squash Rackets Market?
[A]: The squash racket market is primarily driven by factors such as rising awareness about the health benefits of squash, increasing popularity of the sport, and a growing number of squash academies and clubs. Additionally, the availability of squash rackets in a variety of price ranges, materials, and designs are also expected to fuel the growth of the market.

[Q]: Who are the Major Players in the Squash Rackets Market?
[A]: Major players in the squash rackets market include Wilson Sporting Goods, HEAD, Yonex, Dunlop, Tecnifibre, Prince, Black Knight, and Karakal.

[Q]: What is the Potential Impact of Technology on the Squash Rackets Market?
[A]: Technology advancement has been a key factor in driving the squash racket market. Companies such as Yonex, HEAD, and Tecnifibre have adopted advanced technologies to improve the performance of squash rackets. For instance, HEAD has developed a new technology for its squash rackets called ‘Adaptive String Pattern’, which enables players to customize the string pattern to suit their playing style.

[Q]: What are the Growth Opportunities in the Squash Rackets Market?
[A]: Growth opportunities in the squash racket market are expected from the increasing popularity of squash as a recreational activity and the emergence of online retail channels, which are expected to drive the demand for squash rackets. Additionally, the increasing popularity of squash rackets among professional players is also expected to offer potential growth opportunities for the market.