LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global racket sports equipment market report. This market research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global racket sports equipment market is marked by the presence of multiple well-established competitors with considerable brand presence across regions. These competitors are constantly looking for opportunities in the market to refine their production techniques and increase efficiency and innovation. The market is anticipated to experience growth, encouraged by healthy adoption rates of racket sports in developing economies that have relatively low penetration. Over the coming years, vendors are expected to focus on strengthening their brand presence in potential markets.
According to Brijesh Kumar Choubey, a lead analyst at Technavio for outdoor gear research, “The availability of counterfeit products affects the sale of genuine equipment brands; thus vendors must increase public awareness of original products, mainly through celebrity endorsements and online retailing of sporting equipment. Besides leveraging the online platform, vendors can also use promotional strategies such as discounts on products to engage consumers and build consumer loyalty.”
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Technavio market research analysts identify the following key vendors:
Amer Sports manufactures a wide range of sports equipment, apparel, and footwear for sports like tennis, badminton, and squash. It sells its products under brand names like Salomon, Wilson, Atomic, Arc’teryx, Mavic, Suunto, Precor, DeMarini, and Louisville Slugger. The company uses digital marketing and promotional strategies to reach out to its audience.
Babolat invented the racket string and specialized in racket sports equipment. The company employs distributors to sell its products in South America, Europe, Africa, and Asia. The company's focus on product innovation provides it a significant competitive advantage. It develops products based on observation and analysis of games and the way they are played by club players and top professionals.
HEAD manufactures sports equipment, apparel, and accessories for tennis, racketball, paddle, and squash. The company’s products are sold in over 85 countries. The company focuses strongly on product development and research activities to introduce new products in the market and enhance its existing product portfolio. In line with this, in 2016, HEAD launched its series of Graphene XT Cyano squash rackets.
Tecnifibre specializes in manufacturing squash and tennis equipment like rackets, balls, strings, apparel, and accessories. The company sponsors many players from all over the world in a bid to ensure greater visibility among the audiences. The company has teamed up with many different squash players to endorse its squash equipment. Mohamed El Shorbagy is one of these celebrities.
YONEX manufactures and sells sporting goods. The company is also active in golf course management. However more than 99% of the revenue generated by the company is from the sporting goods segment. The product portfolio of the company includes sportswear, shoes, bags, rackets, string and shuttlecocks.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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