Billiards and Snooker Equipment Market size to grow by USD 683.98 million by 2027, Technavio
NEW YORK, March 24, 2024 /PRNewswire/ -- The billiards and snooker equipment market size is expected to expand by USD 65.96 million at a steady CAGR of 2.05% during this period. The report attributes this growth to several key factors, including the burgeoning demand for equipment from the Asia-Pacific (APAC) region, the diversification of distribution channels worldwide, and the increasing popularity of billiards and snooker as recreational sports, particularly among the millennial demographic.
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In recent years, there has been a noticeable surge in the number of sports bars, resorts, and cafeterias in emerging economies such as China and India, where billiards and snooker equipment are becoming staple features. Moreover, there's a growing trend among companies to incorporate these games into corporate workspaces, recognizing the benefits they bring in terms of promoting employee well-being, enhancing cognitive function, and fostering teamwork.
Despite these positive indicators, the market faces challenges from the rising popularity of virtual gaming. However, traditional billiards and snooker equipment manufacturers are innovating their products to stay competitive, offering advanced features and materials to enhance the playing experience.
Key Highlights from the Report:
- Market Dynamics: The growing popularity of recreational sports is driving market growth, with an increasing number of sports bars, resorts, and corporate workplaces incorporating billiards and snooker equipment. However, the rising popularity of virtual gaming poses a challenge to market expansion.
- Major Market Players: Companies such as BCE Distributors Ltd., Berner Billiards, Diamond Billiard Products INC., and others are implementing various strategies to enhance their presence in the market, including strategic alliances, mergers, acquisitions, and product launches.
- Fastest-Growing Segment: The offline distribution segment is expected to experience significant growth during the forecast period, driven by specialty and sports shops, department stores, and discount stores offering a wide range of billiards and snooker equipment.
- Key Regions: Europe is estimated to contribute 30% to the global market growth, with the UK being a significant market for billiards and snooker due to its popularity at both recreational and professional levels.
- Segment Overview: The report provides a detailed analysis of market growth by revenue at global, regional, and country levels, covering distribution channels, products, and regions.
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Analyst Review
The Billiards and Snooker Equipment Market is a dynamic sector within the sports and leisure industry, witnessing significant growth and evolution over the years. From e-commerce websites to physical sports halls and hotels, the market caters to a diverse range of consumers, including enthusiasts, intermediate players, and professionals.
Customer interaction platforms have played a crucial role in connecting manufacturers, retailers, and consumers, facilitating seamless transactions and providing valuable insights into market trends and preferences. This interaction has fueled the growth of grassroots programs, schools, colleges, and clubs, promoting sports participation among individuals of all ages and backgrounds.
Within North America, the United States Billiard Association (USBA) stands as a prominent governing body, overseeing the sport's regulation and development. Billiards King, LLC, Cue View 360, and other associations contribute to the industry's growth by organizing events, promoting competitions, and supporting players at various levels.
The market offers a diverse range of products, including pool sticks, cue sets, tables, and accessories, catering to the needs of both recreational players and professionals. Companies like Brunswick Corporation, Birmingham Billiards Ltd, and Yalin International Billiard Goods are renowned for their high-quality equipment, incorporating advanced materials and innovative designs.
Advanced features such as gyroscopic self-leveling, CNC-machined components, anodized aluminum sides, and stainless-steel ball pockets have revolutionized the gaming experience, enhancing accuracy, precision, and durability. Leather cues and titanium nuts and screws further exemplify the industry's commitment to quality and performance.
The market size continues to expand, driven by factors such as increasing sports bars, resorts, and recreational facilities. Manufacturers are focusing on market growth by diversifying their product offerings, targeting niche segments, and expanding their distribution channels.
Specialized segments like the World Disability Snooker and World Women's Snooker Tour highlight the industry's inclusivity and diversity, providing opportunities for individuals with different abilities and backgrounds to showcase their talents on a global stage.
As the demand for snooker equipment grows, manufacturers such as Diamond Billiard Products Inc. are investing in research and development to introduce innovative solutions that meet the evolving needs of players and enthusiasts worldwide.
In conclusion, the Billiards and Snooker Equipment Market is poised for continued growth, fueled by technological advancements, increasing participation, and a growing appreciation for the sport's competitive and recreational aspects. With a diverse range of products and a thriving ecosystem of manufacturers, retailers, and governing bodies, the industry continues to shape the future of leisure and entertainment worldwide.
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TOC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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