LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global Pilates equipment market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
The increased emphasis on innovative Pilates equipment materials is one of the major trends being witnessed in the global Pilates equipment market 2019-2023. Manufacturers are increasingly focusing on the use of innovative materials such as carbon fiber and nanomaterials, along with technological innovations in the global Pilates equipment market. The need for lightweight Pilates equipment is the primary factor that is expected to drive the demand for innovative Pilates training equipment.
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According to Technavio analysts, one of the key factors contributing to the growth of the global pilates equipment market is the increase in online sales of Pilates equipment:
Global Pilates equipment market: Increase in online sales of Pilates equipment
There has been significant growth in the e-commerce and m-commerce industries owing to the increase in Internet penetration across regions, along with a significant rise in number of mobile users and online purchases. As a result, various Pilates equipment providers have started shifting from offline to online mode of distribution in order to tap the e-commerce and m-commerce industries.
According to a senior analyst at Technavio for research on outdoor gear, “Pilates equipment manufacturers have started offering their products through third-party distributors, thereby increasing their international customer base and also penetrating tier 2 cities and increasing their market footprint in these regions. Apart from this, these companies are also offering standalone products on their respective websites. This shift from traditional offline sales to online sales of Pilates equipment, by Pilates equipment manufacturers, will drive awareness about Pilates as a fitness exercise, thereby driving the demand and sale of Pilates equipment across tier 1 as well as tier 2 cities, thereby driving the growth of the market during the forecast period.”
Global Pilates equipment market: Segmentation analysis
The global Pilates equipment market research report provides market segmentation by product (Pilates machines, Pilates mats, Pilates rings, and Pilates balls) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Pilates machines segment held the largest market share in 2018, accounting for over 58% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 41%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share.
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Market Sizing
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Five Forces Analysis
Market Segmentation
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Market Drivers
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Vendor Landscape
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