Global Padel Racket Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Padel Racket Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Padel is a racquet sport that combines the elements of tennis, squash and badminton. As a game, it is very similar to tennis, with the same scoring system and similar balls, but with less pressure. The main difference is that it can only play doubles, there is a fence on the court, it can play the ball like squash, and it uses a strong cordless racket. The height of serving must be equal to or lower than the waist height.

Padel is played using a padel racket. The original padel rackets were made from wood, but modern padel rackets are made from composite materials. The face of the padel racket is perforated by a pattern of holes.

Market Overview:

The latest research study on the global Padel Racket market finds that the global Padel Racket market reached a value of USD 99.29 million in 2022. It’s expected that the market will achieve USD 220.4 million by 2028, exhibiting a CAGR of 14.21% during the forecast period.

The industrial chain is affected

The impact of pneumonia in COVID-19 on the global Padel Racket product industry involves all major links and entities in the industrial chain. Under the epidemic situation, the management efficiency of the company declined, commuting was severely hindered, the production plan was severely hindered, the network expansion and marketing were delayed, the brand was forced to adjust, the market sales declined, and the income of the company and employees was damaged.

SMEs face challenges

The pneumonia epidemic in COVID-19 has a great impact on the global Padel Racket industry, especially the after-sales operation of small and medium-sized enterprises. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The industrial chain of SMEs is imperfect and fragile.

The production cost of enterprises increases

With the gradual control of the epidemic, some areas began to resume operations. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Social Factors

From the perspective of social environment, the influence of population environment can not be ignored, mainly including population size, age structure, population distribution, ethnic structure and income distribution. Generally speaking, the population size affects the market capacity of a regional market to a certain extent. But at the same time, we should also consider social factors such as social development level and population consumption attitude, which also profoundly affect the demand level of Padel Racket products.
Generally speaking, padel is the fastest-growing racket sport in the world due to its short development history. From 2002 to 2017 alone, the number of rackets sold worldwide increased by about five times. However, the development of padel sports area is uneven. Padel was first popular in Mexico, Spain and Argentina in the last century, and became popular all over the world after 2010. European and South American markets are still developing best, and padel movement is very popular in this region. With the spread of padel sports culture, North America has been further developed, and the world padel Tour is also held in the United States. Since Japan in 2013, the construction of the first stadium in Asia-Pacific marked the beginning of this sport in Asia. Subsequently, Singapore, India and China quickly followed suit, laying a foundation for the future development of this sport in Asia. Due to the large population base, the sustained economic development and the emphasis on sports culture in the Asia-Pacific region in recent years, it is expected that there will be huge market opportunities in the Asia-Pacific region in the future.

Technological Factors

With the rapid upgrading of science and technology, manufacturers need to adjust their existing business models and practices to adapt to the latest changes. Consumers pay more and more attention to the use of high performance, convenient and efficient equipment. Therefore, the use of new racket technology and material technology to improve players' experience will effectively increase the market share of brand rackets.

Environmental Factors

Environmental factors include all factors that affect or are determined by the surrounding environment. The most important factor is the industrial chain. Padel Racket can't develop without industrial chain. The supply of raw materials will affect the overall product and service quality of the industry, and the downstream demand is an important driving force for the further development of the industry.
At the same time, the competitive relationship in the industry will also promote the development of enterprises, and each company is committed to improving product performance and innovative research and development, which is conducive to the overall progress of the industry. However, some small and medium-sized enterprises have weak awareness of intellectual property protection, and a large number of infringements will disrupt the market order, which is not conducive to the healthy development of the industry.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

Bullpadel is one of the major players operating in the Padel Racket market, holding a share of 7.88% in 2023.

Bullpadel

Bullpadel was born in 1995, which was the result of cooperation between several professional Padel players from Argentina and Spain. Mainly produces padel series products.

Wilson

Wilson Sporting Goods Company is an American sports equipment manufacturer, which manufactures many sports equipment, including baseball, badminton, American football, basketball, fast softball, golf, squash, football, squash, tennis, pickles and volleyball.

Segmentation Overview:

Among different product types, Teardrop shape segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Amateur segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Padel Racket market covered in Chapter 3:

Adidas
Babolat
StarVie
NOX Sport
Royal Padel
Vibora Padel
Bullpadel
Wilson
Siux Padel
Drop Shot
Enebe Padel
Dunlop
Head
Shooter
Varlion

In Chapter 4 and Chapter 14.2, on the basis of types, the Padel Racket market from 2018 to 2029 is primarily split into:

Round shape
Teardrop shape
Diamond shape

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Padel Racket market from 2018 to 2029 covers:

Professional
Amateur

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)