According to Precision Business Insights (PBI) latest report, the billiard market is expected to be worth USD 670 million in 2022, growing at a 2.8% CAGR from 2022 to 2028. The global popularity of games like snooker, billiards, and pool drives market revenue growth. Growth in infrastructure development projects, combined with government initiatives, has increased the number of people working on them. Indoor games are getting increasingly popular as the need for recreational activities rises. Players are building customized billiards equipment to enhance their customer base, which is projected to promote the growth of the billiard cues market in the area. Moreover, the expansion of the billiard market is expected to be aided by increased sales and the use of customer engagement platforms to obtain client feedback on the product. Furthermore, with an increasing number of official academies being established worldwide, the caliber of snooker facilities continues to improve. One of the critical causes driving global billiards equipment sales is the increase in grassroots programs in schools, colleges, and clubs.
Pool Table Segment Dominates the Billiard Market
The pool table segment is expected to account for a larger revenue share in the global billiard market with a significant value share worldwide. It is projected to grow at a 3.1% CAGR between 2022 and 2028. Considerable penetration of cue sports, diverse recreational activities, and the numerous associations supporting the sports drive the pool table demand. Good support from various regulating authorities is fuelling the market for pool tables. The leading players in the market are employing online retail tactics to reduce costs and enhance margins, which may help the industry throughout the projected period. This could potentially result in one of the most significant pool table segment opportunities.
Asia Pacific Driving Billiard Market
The Asia Pacific is expected to hold a significant market share in the global billiard market in the forecast period. It is projected to grow at a CAGR of 3.2% in the coming years. The growing population, rising living standards, and more significant consumer expenditure on recreational activities such as billiards contribute to increased demand for pool tables in the Asia Pacific. Also, China’s economic expansion is expected to result in higher per capita income, which will lead to more disposable income and, as a result, increased sales in the Asia-Pacific region.
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The market is segmented based on type, equipment, distribution channel, application, and geography.
1) By Type: Carom, Pool, and Snooker.
2) By Equipment: Table Ball, Cue, Snooker Cue, Nine Ball Cue, and Other Equipment
3) Distribution Channel: Offline and Online
4) By Application: Club, Race, Family, and Others.
5) Geography: North America, Europe, Asia Pacific, Latin America, and MEA
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The global billiard market further reveals that the key players are increasingly adopting strategies such as launching newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In November 2017, Cue Cube, LLC introduced a new cue-shaping cube with a US dime radius of 8.96 mm. This allows players to tighter their cue tip radius on their cue.
Key players’ profiles in the Billiard Market report are AHamson Inc, Zhejiang Jianying Billiards Co.ltd, Predator Group, Wiraka Pte Ltd, XingPai, Centurelli P.IVA, Ozone Billiards., Action Billiard Cues, FURY, and Present Magento Inc.