LONDON--(BUSINESS WIRE)--The global gymnastic equipment market size is expected to grow by USD 12.68 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The increase in sedentary lifestyles and physical inactivity exposes individuals to various health conditions such as anxiety, obesity, type 2 diabetes, and osteoporosis. As a result, individuals are increasingly looking to adopt healthy lifestyles. Moreover, social media is playing a pivotal role in creating awareness about healthy lifestyles and the ways to achieve it through various fitness and training activities such as gymnastics. Gymnastics offers several benefits such as better coordination and body awareness and increased strength of abdominal muscles. Strengthening these muscles can help relieve back pain, which is a common malady in today’s generation. Thus, the increasing awareness about healthy lifestyle is expected to drive the gymnastic equipment market growth.
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As per Technavio, the increasing popularity of e-commerce channels will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Gymnastic Equipment Market: Increasing Popularity Of E-commerce Channels
The increasing popularity of e-commerce channels is one of the major trends being witnessed in the global gymnastic equipment market. The online sales of gymnastic equipment have witnessed significant growth over the past decade due to the retailers' and manufacturers' efforts toward educating customers, streamlining the online retail process, providing better aftersales services and targeted marketing campaigns. The growing penetration of smartphones and the internet worldwide will further increase the sale of gymnastic equipment through online portals, thereby, driving market growth.
“Other factors such as the high prevalence of gymnastic associations, and increase in disposable income across emerging economies will have a significant impact on the growth of the gymnastic equipment market value during the forecast period,” says a senior analyst at Technavio.
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Gymnastic Equipment Market: Segmentation Analysis
This market research report segments the gymnastic equipment market by distribution Channel (offline and online) and geography (North America, Europe, APAC, South America, and MEA).
The North America region led the gymnastic equipment market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rising young population, the increase in disposable income, and the growing awareness of the need to invest in health and fitness activities.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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