LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global table tennis equipment market is expected to reach USD 649.6 million by 2020, growing at a CAGR of more than 2%.
This research report titled ‘Global Table Tennis Equipment Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of different types of table tennis equipment to individual consumers, clubs and pubs, and sports organizers.
Table tennis is most popular in Asia-Pacific (APAC) with more than 350 million players in 2015. This sport is transforming into a recreational sport in the US, which now has 17 million players in 2015, as compared to almost 15 million players in 2006. Even in the UK, more than two million people had played recreational table tennis in 2015.
The market has number of growth factors, one of the most important being a worldwide rise in the number of development programs by table tennis associations like ITTF and Table Tennis England, to encourage regular participation. The increasing popularity of table tennis as a recreational sport in many developed countries like the US is yet another reason to boost the sales of the equipment.
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Technavio’s consumer and retail analysts categorize the global table tennis equipment market into three major products segments. They are:
Global table tennis equipment market shares by product (2020)
|Product||Market shares (%)|
Global table tennis racket market
The table tennis racket market is expected to reach USD 380.8 million by 2020, posting a CAGR of over 2%. The table tennis racket, which is also known as paddle and bat, is the biggest segment in the table tennis equipment market, as the racket plays a key role in the game. The racket includes rubber and blades which can be replaceable.
Innovation in the rubber and blade is one of the trends in the racket segment. In 2014, STIGA released a racket called Pro Carbon for advanced and professional players. It uses a variety of technology to increase the spin and speed. However, the segment has a slow replacement cycle for intermediate and beginner players. Clubs and pubs also give out rackets on rental, which is a major reason for the lack of ownership of rackets by casual and leisure players.
Global table tennis ball market
The table tennis ball market is the second largest segment in the market in 2015 with a market share of almost 20%. The ball segment is the second fastest growing category in the table tennis equipment market as the replacement cycle of ball is quick. On an average, the ball is replaced every 2-3 sets. Change in the ball regulations by ITTF has a major impact on its growth. According to the new rule, all celluloid balls are to be replaced with plastic balls of 40+ millimeter in all ITTF tournaments.
“The ITTF has not completely banned celluloid balls, so these balls are still used in many non-ITTF games. The need of the hour is innovation in the new plastic balls, as they are not as durable as celluloid balls,” says Mantri Charan Kumar, a lead retail goods and services research analyst from Technavio.
Global table tennis table market
The table tennis table segment accounted for a market share of over 17% in 2015. The table tennis table market is reporting slower growth than the racket and ball markets as it is the most durable product, and can normally last more than 10 years. Table Tennis England's initiative to increase participation in the sport has had a substantial impact in the country by increasing regular participation. Another driver of this segment is the increasing adoption of table tennis as a leisure and social gathering sports in clubs and pubs, especially in the US.
“The sharing of the table by many people and the preference of renting rather than buying a table are hindering the growth opportunities in the market. One of the current trends is technological innovation in table tennis, which provides real-time data and analysis for players by tracking individual movements. The implementation of such analytics in the table will be a growing trend,” adds Mantri.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Double Happiness
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