Market Insights Consumer Toys & Hobby Sports Equipment

Racket Sports Equipment - Luxembourg

Luxembourg

in Luxembourg, a small but prosperous country Europe, is no exception when it comes to the revenue generated in the Racket Sports Equipment market.
In 2024, the revenue in this market amounts to US$1m.
This shows that in Luxembourg is a player in this market segment, despite its relatively small size.
Looking ahead, the market is expected to experience annual growth of 4.46% from 2024 to 2028, according to the compound annual growth rate (CAGR).
This growth indicates that the demand for racket sports equipment is on the rise in Luxembourg, keeping pace with global trends.
While in Luxembourg may not generate the highest revenue in this market globally, it is worth noting that in China leads the pack with an impressive revenue of US$4,374m in 2024.
This stark comparison demonstrates the vast differences in market size and potential between countries.
To put things into perspective, the per person revenue generated in Luxembourg in 2024 amounts to US$1.59.
This figure reflects the average amount of revenue generated by each individual in the country.
It is an indicator of the market's penetration and the level of interest in racket sports equipment among the Luxembourgish population.
In conclusion, Luxembourg's presence in the Racket Sports Equipment market showcases its active participation and contribution to this global industry.
While it may not generate the same revenue as larger countries like in China, the per person revenue figure demonstrates that the market is thriving in this European nation.
Luxembourg is experiencing a surge in demand for high-end tennis rackets, driven by the country's affluent population and their passion for the sport.

Key regions: India, United Kingdom, Germany, Indonesia, United States

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on goods people buy for their leisure activities and hobbies.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use in-house market research, national statistical offices, international institutions, trade associations, third-party studies, and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and household number. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for forecasting the Toys & Hobby market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.