An in-depth analysis on paintball equipment market is offered in the report, covering all vital aspects that significantly influence the futuristic prospects of the paintball equipment market. The prevailing trends in the sports industry, prominent market drivers, opportunities and challenges are thoroughly analyzed to derive the paintball equipment market forecast.
[ClickPress, Fri Aug 09 2019] Fact.MR has compiled a study on the paintball equipment market and published a report titled, “Paintball Equipment Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028”. An in-depth analysis on paintball equipment market is offered in the report, covering all vital aspects that significantly influence the futuristic prospects of the paintball equipment market. The prevailing trends in the sports industry, prominent market drivers, opportunities and challenges are thoroughly analyzed to derive the paintball equipment market forecast.
The paintball equipment market continues to remain consolidated among Tier 1 players, wherein top two companies, G.I. Sportz, Inc. and Dye Precision Inc., collectively account for over two-third revenue share. Strategic partnerships and R&D investments are key business expansion strategies adopted by Tier 1 players, who are meanwhile engaged in the vertical integration wherein major investments are focused toward in-house development of reliable & premium paintball equipment. Active engagement of G.I. Sportz with paintball tournament associations and organizations, and Dye Precision’s efforts toward strengthening its relationship with local distributors, are primary examples of Tier 1 players’ expansion strategies. Tier 1 paintball equipment manufacturers are also concentrating on providing sponsorships to leagues and championships for enhancing their brand image.
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Tier 2 and Tier 3 paintball equipment manufacturers are focusing on consolidating their presence in the emerging markets, amid challenges such as limited presence in the global paintball equipment marketplace, intense competition from tier 1 companies and poor distribution network, . ‘Targeted offerings’ is one of the prime strategies adopted by Tier 2 players, who are actively engaged in introducing new and economic alternatives of different paintball equipment, particularly in the Asia Pacific paintball equipment market. As the market remains fragmented in Asia Pacific and Latin America, tier 2 and tier 3 players in the paintball equipment market are focusing on strengthening their domestic presence. By offering unique products through innovative marketing strategies, small-scale players in the paintball equipment market are seeking broader recognition in the industry.
Paintball equipment sales are limited on account of its amateur nature. The consistency in new and replacement equipment sales, as compared to other professional sports, such as soccer, tennis and baseball, is insignificant in the context of paintball equipment. As paintball is less viewed as a professional sport and more as a leisure activity, there is a lack of government support and funding in the sport. While bulk of paintball equipment sales can be linked to spending on leisure and fun, spending on buying paintball equipment is witnessing further competition with the increasing popularity of other recreational activities.
Paintball has witnessed a significant evolution over the past few years, with the introduction of novel equipment developed for enhancing safety of the sport. While manufacturers have introduced advanced and reliable paintball equipment, the sport is facing controversies. Incidences of ‘paintball wars’ where paintball equipment are being used in place of guns during the acts of vandalism have significantly impacted the overall popularity of the sport. In addition, injuries caused during the sport, particularly among children has negatively influenced the participation rate. Although the injury rate of paintball remains lower as compared to other sports, growing distrust towards the sport can hamper the already smaller consumer base, in turn, influencing the growth of the paintball equipment market.
Consumer demand for speed and accuracy in shots have led manufacturers in the paintball equipment market to introduce electro pneumatic markers that are more accurate and fire faster. With their superior features, electro pneumatic markers are gradually replacing their traditional counterparts - mechanical markers. Also, electro pneumatic markers allow firing with compressed air, exempting the use of CO2. With design innovations focused on developing safer paintball equipment, manufacturers have introduced a variety of electro pneumatic markers with different internal setups that attract modern paintball lovers. A lightweight design and faster shots of electro pneumatic marker have become popular among all age groups, thereby driving sales of these markers in the paintball equipment market.
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