Rapidly increasing demand for the lightweight sports equipment is likely to contribute towards the growth of APAC squash rackets market during the forecast period. Professional athletes have been increasingly preferring cutting-edge lightweight sports equipment as it offers better performance with enhanced strength and flexibility. Carbon fiber has been replacing the conventional materials such as steel, wood and metal in the manufacturing of new sports equipment. This in turn creates increasing growth avenues for Asia-Pacific squash rackets market in the forthcoming years.
Application of nanotechnology has been offering greater benefits such as high stiffness and strength, abrasion resistance, reduced friction and reduced weight, which in turn increases the performance and durability of squash rackets. Competition amongst the key players and manufacturers has been increasing in Asia-Pacific squash rackets market based on technology, performance and design. Fact.MR’s report on APAC squash rackets market indicates that squash rackets have been emerging as an ideal choice for the beginners. APAC squash rackets market is likely to grow at nearly 3.8% CAGR over the course of period from 2018 to 2028.
Manufacturers in APAC squash rackets market are taking immense efforts in manufacturing squash rackets with less than 20% chemicals compared to the conventional squash rackets, in order to reduce volume of the disposed plastic. Usage of eco-friendly materials for the manufacturing of squash rackets is being an emerging need in developed as well as developing countries, which in turn would significantly drive the revenue growth of squash rackets market.
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Apart from this, gaining momentum of squash as a sport in developing Asia-Pacific has been influencing the regional manufacturers in manufacturing better-quality and sustainable professional squash rackets. Most importantly, Asia-Pacific continues to hold untapped potential for the squash rackets market. Squash is attaining increasing popularity amongst the countries such as New Zealand, Australia and India and ASEAN countries etc. The participation has been expected to increase in the forthcoming years. Besides, the promotions and initiatives by the squash associations has been further anticipated to increase sales of the squash rackets.
Easy maneuvering has been constantly shifting end-users preference for the light-weight squash rackets. In addition, weight uptill 150g of squash rackets is witnessing growing preference, which in turn accounts for over 80% of the over squash rackets market revenue share. Fact.MR is of the point of view that squash rackets market will expand at an approximately 3.7% CAGR over the course of the period from 2018 to 2028. With squash being integrated in Commonwealth Games, steady growth is likely to be observed by the sports industry in the forthcoming years. Squash associations are exclusively encouraging the sports clubs for introducing more participants in playing sports with provision of effective coaching, which in turn impacts significantly on the growth of squash rackets market.
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Squash rackets sales is significantly influenced with the participation of enormous number of players along with intermediate proficiency. Sustained demand for the squash rackets together with emerging trend of demand and supply of eco-friendly squash rackets is influencing the manufacturers to expand their product portfolio. Owing to cheaper rates of aluminium, composite frame material is gaining significant traction amongst the squash rackets manufacturers, resulting in continual demand for light-weight squash rackets on a global basis.
Growing inclination towards light-weight composites frame for squash rackets have been leading to rising demand for head-light squash rackets owing to its increased maneuverability. This is owing to the fact that weight lies more on the handle compared to head. The squash rackets with head light balance has been accounting for over 50% share and is expected to outgrow evenly balanced and head heavy squash rackets over the period of forecast.
Mr. Rohit Bhisey
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