Squash Rackets Market Size, Share & Trends Analysis Report By Raw Material (Carbon Fiber, Aluminium), By Distribution Channel (Brick & Mortar, Online), By Region (North America, APAC, Europe), And Segment Forecasts, 2024 - 2030

Squash Rackets Market Size & Trends

The global squash rackets market size was valued at USD 243.1 million in 2023 and is projected to grow at a CAGR of 5.3% from 2024 to 2030.This growth is being fueled by the growing popularity of squash as both a leisure and competitive sport, leading to increased demand for high-quality equipment. Furthermore, the proliferation of e-commerce platforms has simplified consumer access to various squash rackets, resulting in heightened sales.

The International Olympic Committee's decision to include squash in the 2028 Los Angeles Olympics is a historic milestone for the sport, marking its debut in the Olympic Games. This inclusion is anticipated to enhance the sport's visibility and popularity, offering a global platform for athletes to demonstrate their skills. The exposure garnered from the Olympics is expected to stimulate greater interest and engagement in squash, contributing to the expansion of the market and the sport's advancement on a global scale.

Raw Material Insights

The carbon fiber segment accounted for 75.1% of the total revenue generated in 2023. This dominance can be attributed to the superior properties of carbon fiber, such as its high strength-to-weight ratio, durability, and stiffness. These characteristics make carbon fiber ideal for squash rackets, providing players with enhanced performance and control. The lightweight nature of carbon fiber rackets allows for quicker swings and better maneuverability, which are crucial for competitive play. Additionally, the increasing preference for premium and high-performance sports equipment among professional and amateur players has driven the demand for carbon fiber rackets. The continuous innovation and development in carbon fiber technology are expected to sustain its dominance in the market.

The aluminium segment is expected to grow at a CAGR of 4.9% over the forecast period. Aluminium rackets are generally more affordable and accessible, making them popular among beginners and recreational players. The material’s inherent properties, such as corrosion resistance and ease of fabrication, contribute to its steady demand. Moreover, aluminium rackets are known for their durability and ability to withstand rough handling, appealing to new players who may not yet be ready to invest in more expensive equipment. The anticipated growth in this segment is also supported by expanding squash programs in schools and community centers, where cost-effective equipment is often preferred. As the sport continues gaining popularity, the aluminium segment is likely to grow, catering to a broader audience's needs.

Distribution Channel Insights

The brick-and-mortar segment dominated the market in 2023, reflecting the traditional consumer preference for in-store shopping. Physical stores offer customers the advantage of directly inspecting and testing the rackets before purchase, particularly important for sports equipment where feel and balance are crucial. Additionally, brick-and-mortar stores often provide personalized customer service, expert advice, and immediate product availability, enhancing the overall shopping experience. Retailers also benefit from established brand loyalty and trust, which can influence purchasing decisions. The presence of dedicated sports stores and large retail chains with extensive product ranges further supports the dominance of this segment. Despite the rise of e-commerce, many consumers still value the tangible experience and assurance of in-person shopping.

The online segment, on the other hand, is expected to grow the fastest from 2024 to 2030, driven by the increasing penetration of the internet and the convenience of online shopping. E-commerce platforms offer a vast selection of products, competitive pricing, and the ease of comparing different brands and models from the comfort of one's home. The growth of this segment is also fueled by advancements in digital marketing and the use of social media to reach a broader audience. As logistics and delivery services continue to improve, the online segment is poised for significant growth, catering to the evolving preferences of modern consumers.

Regional Insights

North America squash rackets market dominated with a revenue share of 29.3% in 2023, driven by the high demand for sports equipment and the popularity of squash as a recreational activity. The region benefits from a strong sports culture and numerous squash tournaments, which boost the sales of squash rackets. The presence of major sports equipment manufacturers and a well-established retail network also contribute to the region’s market dominance.

U.S. Squash Rackets Market Trends

The U.S. squash rackets market held a significant revenue share of the North American market in 2023. The U.S. market is characterized by a growing number of squash clubs and increasing participation in the sport, supported by various programs and initiatives to promote squash at both amateur and professional levels. For example, the Community Squash Initiative aims to make squash accessible to everyone by cultivating an inclusive culture and building community-oriented program models. The Middle and High School Team Squash Initiative promotes the formation of scholastic teams, expanding opportunities for junior players. These initiatives, along with the Collegiate Squash Initiative, which supports the development of squash programs at colleges and universities, are driving the growth of squash in the U.S.

Asia Pacific Squash Rackets Market Trends

The Asia Pacific squash rackets market held a substantial revenue share in the global market in 2023, driven by rising participation in squash, particularly in countries such as India and Japan. For instance, the Squash Rackets Federation of India (SRFI) has been actively promoting the sport through various initiatives and partnerships, such as the Squash World Cup 2023 held in Chennai, showcasing India’s growing prowess. In Japan, the sport is gaining traction with increasing numbers of junior players participating in national and international tournaments.

The squash rackets market in China is expected to grow substantially over the forecast period. Government initiatives to promote sports and the development of sports infrastructure are contributing to this market expansion. For example, constructing the Manta Squash Stadium in Hangzhou, which features all-glass walls, is part of the broader effort to boost the sport’s popularity ahead of the 2028 Olympics. Moreover, cities such as Beijing and Guangzhou are investing in new squash courts and training programs to foster local talent.

Europe Squash Rackets Market Trends

Europe's squash rackets market is expected to grow at a CAGR of 5.2% from 2024 to 2030. The sport’s popularity as a recreational activity and well-established squash leagues and tournaments in countries such as the UK, Germany, and France contribute to this growth.

Latin America Squash Rackets Market Trends

The Latin America squash rackets market is projected to grow the fastest over the forecast period. This growth is driven by increasing awareness of the health benefits of squash and the rising number of squash courts and clubs in countries such as Brazil and Argentina. The region’s growing middle class and increasing disposable income contribute to the market’s rapid expansion.

Key Squash Rackets Company Insights

Some of the key companies in the Squash Rackets market include Head N.V., Dunlop Sport, Tecnifibre, Wilson Sporting Goods, and Babolat, among others.

• Dunlop Sport offers a wide range of rackets catering to different skill levels, from beginners to professionals. Dunlop’s rackets are known for their advanced technologies, such as the Sonic Core and Hyperfibre, which enhance power, control, and durability.

• Tecnifibre is known for its rackets, such as the Carboflex and Slash series, which are designed to meet the needs of both aggressive and control-oriented players. The brand’s association with top athletes and its emphasis on innovation have helped it maintain a competitive edge in the market.

Recent Developments

• In September 2024, Tecnifibre expanded its Carboflex range by introducing a 120g model, the lightest ever in the series. This new racket is tailored for players with high swing speeds, making it suitable for expert and professional squash players.

• In March 2024, Head introduced its innovative 4-in-1 machine. This diagnostic tool comprehensively analyzes racquet performance, accurately measuring weight, swing weight, twist weight, and balance. The machine is designed for accommodating a range of racquet sports, including tennis, pickleball, padel, squash, and racquetball.

Squash Rackets Market Report Scope

Global Squash Rackets Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global squash rackets market report based on raw material, distribution channel, and region.

• Raw Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Carbon Fiber

  • Aluminium

  • Others

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Brick & Mortar

  • Online

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa

    • Egypt