According to a new report published by Allied Market Research, titled, “Pool Tables Market by Type, Material, End Use and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the pool tables market size is expected to reach $291.6 million by 2028 at a CAGR of 5.4% from 2021 to 2028
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The manufacturers such as Olhausen Billiard Mfg Inc., also sell custom pool tables that are tailored as per buyer’s specifications. Pool tables market is being driven by growing popularity of cue sports and leisure activities. The high prices of pool tables, on the other hand, are limiting the market’s expansion.
During the forecast period, the global pool tables market is expected to rise due to the introduction of customized items. The major Unique Selling Proposition (USP) of pool tables is availability of handcrafted and customized pool tables.
Pool tables with a standard size of 7 ft. are popular in casinos, recreational clubs and amateur leagues. The pool table market growth is also being fueled by the growing popularity of cue sports and leisure activities.
COVID-19 has the potential to influence the global pool table market economic breakdown in three ways- directly and indirectly, by influencing production and demand. By creating a supply chain and market disruption. With its monetary impact on businesses and financial markets.
The pool table market is expected to grow at a rapid pace between 2021 and 2028, owing to the growing demand for various applications among businesses to improve operational efficiency and decision-making.
Rise in infrastructure development projects and government initiatives, increase in demand for recreational activities, and popularity of indoor games drive the growth of the global pool tables market. However, high price of pool tables and initial cost of manufacturing of pool tables hinder the market growth. On the contrary, surge in demand from developing countries and rise of the e-commerce platforms are expected to open lucrative opportunities for the market growth in the future.
The increased number of grassroot programs in schools, colleges, and clubs is one of the major factors driving the global pool tables market sales. Pool table demand is expected to rise as a result of the widespread popularity of cue sports and other recreational activities, as well as the numerous associations that promote the sport. As a result, the pool table market will be driven by an increase in demand for recreational activities during the forecast period.
The cost of raw materials used to make pool tables, such as slate, wood, and cloth, is high, which influences the price of the finished product. Furthermore, most pool tables market suppliers and manufacturers charge additional fees for shipping and installation, which enhances the pool table prices for the customer. The high cost of manufacturing a pool table will hinder the pool tables market growth.
On the basis of distribution channel, the specialty stores segment held the largest share in 2020, contributing to more than one-third of the market. Moreover, the segment is projected to manifest the highest CAGR of 6.6% from 2021 to 2028.
The global pool tables market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, contributing to more than one-third of the market growth. Moreover, the region is estimated to register the highest CAGR of 5.9% during the forecast period.
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The global pool tables market includes an in-depth analysis of the prime market players such as Beijing Xingpaiweiye Sports Goods Co. Ltd, American Heritage Billiards, Brunswick Billiards, Blatt Billiards, Imperial International, Gabriels Billiards, Olhausen Billiard Mfg. Inc., Legacy Billiards, Riley England and Valley Dynamo Inc.
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