Coronavirus's Impact On Pilates Equipment Market
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Key factors driving the pilates equipment market include increase in the focus on fitness, requirement for lightweight pilates equipment, and rise in the demand of pilates equipment in clinics, local health clubs, and physiotherapy centers. Evolution in e-commerce has created immense opportunities for producers and distributors of pilates equipment operating in the market. In order to cater to a comprehensive range of customers across the world, producers and distributors of pilates equipment are focusing on selling their products through various e-commerce websites. Promotion of pilates equipment through various online channels is projected to offer lucrative opportunities to the pilates equipment market in the next few years. On the other hand, high costs associated with pilates equipment is one of the major factors hampering the market.
The global pilates equipment market can be segmented based on product, distribution channel, application, and region. In terms of product, the market can be segmented into pilates machines, pilates balls, pilates rings, pilates mats, and others. The pilates machines segment is likely to expand at a high growth rate during the forecast period. The segment includes products such as trapeze & towers, arcs, reformers, chairs, and barrels. In terms of distribution channel, the market can be bifurcated into online and offline.
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Companies such as Peak Pilates, Balanced Body, and Merrithew are supplying their products through third-party distributors. This step is estimated to expand their customer base worldwide. Based on application, the pilates equipment market can be divided into commercial purpose and personal purpose. Commercial pilates equipment are largely used in boutique studios. Boutique studios play a significant role in growth of the pilates equipment market, as individuals prefer personalized fitness. Based on region, the global pilates equipment market can be segmented into Europe, North America, Asia Pacific, South America, and Middle East & Africa.
The market in North America and South America is anticipated to register a significant growth rate during the forecast period, due to increase in popularity of both physical and mental exercises, such as yoga, in these regions. Pilates equipment are largely used in countries such as the U.S., Mexico, and Canada in North America and Brazil in South America. The pilates equipment market in Europe is projected to expand at a considerable pace during the forecast period, due to rise in popularity of pilates studios in the region. This is expected to augment the demand for investment casting in these countries from 2018 to 2026.
Prominent players operating in the global pilates equipment market are Balanced Body, Merrithew Corporation, Stamina Products Incorporation, Gratz Industries LLC, Mad Dogg Atheletics Incorporation, Sivan Health and Fitness, Tone Pilates, Xtend Pilates, The Joint Workshop Pty Ltd, AGM Group, Bonepilates, Peak Pilates, and Tirado Pillates Apparatus. Major brands are likely to focus on innovation of new products and research & development activities to strengthen their foothold in the global pilates equipment market. Companies are adopting mergers and acquisitions and forming joint ventures with local players to expand their product portfolios. Manufacturers in developing economies are focusing on decreasing their cost of production.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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