LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global billiards and snooker equipment market to grow at a CAGR of almost 2% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global billiards and snooker equipment market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Sporting goods retailers offer popular brands of billiards and snooker equipment and thus, becomes attractive shopping destinations for this equipment. The sporting goods retailers segment dominated the global billiards and snooker equipment market in 2016 with a share of over 46% of the market. Dick's Sporting Goods is one of the key examples of sporting goods retailers.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global billiards and snooker equipment market:
Rise in online sales
E-retailing is the fastest growing segment of the global retail market. The biggest players in the global online retail market for billiards and snooker equipment are Amazon, Walmart, and Target. The growing number of online websites offering a wide range of snooker and billiards equipment is increasing the demand for these products.
Brijesh Kumar Choubey, a lead retail goods and services research analyst at Technavio, says, “E-retailing of various products, including billiards and snooker equipment, is gaining popularity because of it being a time-saving and cost-effective process of purchasing products. The popularity of online shopping through smart devices or m-commerce is also increasing because of the high penetration of Internet services, improved economic conditions, and the availability of facilities such as upgradation of purchases and delivery options.”
Advent of organized retail
Billiards and snooker equipment are primarily sold through organized retail chains like specialty stores and department stores. The retail sectors in developing nations like China, India, and Brazil have been undergoing rapid transition with a rise in organized retail. Organized retailers provide many products under the same roof in a systematic manner.
“The share of organized retail is increasing with a change in government policies and an increase in consumer preference for modern retail channels. This will have a far-reaching impact on the market,” adds Brijesh.
Low cost of playing the sports for recreation
Billiards and snooker are usually played on an hourly basis in sports halls, centers, and clubs. Most countries have sports centers and clubs, where people play games such as bowling, billiards, and snooker with people of their own age and mindset. The annual membership fees of such centers and clubs are between USD 250-USD 750 annually.
The situation in billiards and snooker halls is slightly different from that in clubs. Usually, billiards and snooker halls do not have membership fees. The participants can walk into these halls and rent the tables on an hourly basis. The cost is around USD 5-USD 12 per hour.
Top vendors:
- Brunswick Billiards
- Diamond Billiard Products
- Fury (Kaokao Group)
- Imperial International
- RILEYLEISURE
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