LONDON--(BUSINESS WIRE)--The global billiards and snooker equipment market is expected to post a CAGR of more than 2% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing popularity of billiards and snooker games has encouraged sports halls, recreational centers, and clubs to install billiards and snooker equipment so as to enable people to play these games on an hourly basis. Many resorts, hotels, and sports bars in major cities across the US are introducing billiards and snooker halls. Developing countries such as China and India are also witnessing a surge in the number of new sports bars with billiards and snooker equipment. Thus, the growing popularity of billiards and snooker as recreational sports is one of the key factors driving the growth of the market.
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As per Technavio, the increasing innovations in equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Billiards and Snooker Equipment Market: Increasing Innovations in Equipment
The growing popularity of billiards and snooker games is encouraging vendors to focus on introducing innovative products. Several vendors are introducing tables that can be easily converted into dining tables. Certain vendors are offering a wide range of customization options in terms of cabinet color and finish. Vendors are also allowing customers to choose a model from a wide range of tables. This trend of innovation and customization is expected to boost the growth of the global billiards and snooker equipment market during the forecast period.
“Increase in online sale of sports equipment and growing number of strategic acquisitions will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Billiards and Snooker Equipment Market: Segmentation Analysis
This market report segments the global billiards and snooker equipment market by product (billiards and snooker tables, billiards and snooker cues and balls, and other equipment), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to maintain its dominance over the global market. This is due to the growing popularity of sports tournaments such as the European Pool Championships and the World Championship in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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