The global badminton equipment market to grow at a CAGR of 2.32% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global badminton equipment market for 2016-2020. To calculate the market size, the report has taken into consideration the sales revenue generated by different types of badminton equipment.
The global badminton equipment market is driven by a number of growth factors, one of the most important being the increase in the number of badminton tournaments being organized across the globe. The prevailing popularity of badminton tournaments like the Super Series Badminton League and the Premier Badminton League is also indicative of the fact that the market has a high growth potential for the forecast period.
A trend propelling market growth is the increased use of nanomaterials. The growing demand for lightweight materials is therefore leading to an increase in the use of carbon fiber in the manufacture of sports equipment in recent times. Carbon fiber is replacing the traditional metal, wood, and steel in modern sports equipment, thereby reducing the equipment's weight and providing it with greater flexibility and strength.
Furthermore, even the carbon fiber-reinforced plastic moldings in this type of equipment are replacing the traditional glass-reinforced plastic moldings for more stiffness and flexibility.
The number of badminton tournaments being organized and played across APAC is on the rise, which is directly leading to an increase in the participation rates as well as the number of frequent players. Associations like the BWF are actively spending more on sponsoring elite international level competitions and tournaments to encourage more participation.
The increase in the number of tournaments has a direct impact on the demand for badminton equipment, which, along with frequent replacement of old equipment like rackets, will propel the growth of the market over the next five years.
Further, the report states that one challenge that could restrict market growth is the inadequate infrastructure.