The Pilates equipment market generated revenues worth over US$ 248 Million in 2018, an excess of US$ 15 Million from 2017, according to Fact.MR’s recent valuations.
[INPRwire, Tue Apr 02 2019] The latest research by Fact.MR has revealed key insights of the Pilates equipment market and the study is published in the report titled, “Pilates Equipment Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028”. According to the study, the Pilates equipment market is projected to witness steady growth prospects during the forecast period on the back of multimodal factors that are thoroughly analyzed in the Pilates equipment market report.
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Pilates Equipment Market Remains Highly Fragmented, Tier 3 Companies Hold over 60% Market Share
Pilates equipment marketplace is marked by the presence of a large number of small market players who cater to the demand from local health clubs and fitness centers. The Tier 3 companies are leveraging effective marketing strategies, such as innovative product offerings to strengthen their regional and domestic market presence. Successful penetration of small players in the local Pilates studios and home studios can be attributed to their economical offerings that target budget-conscious consumers.
‘Boutique Studios’ Fuelling Sales of Pilates Equipment as Millennials Prefer Personalized Fitness
Increasing preference for customization is transforming the global fitness landscape wherein boutique studios are highly sought-after for their on-demand and personalized nature of workout plans. Growing emphasis on personalization has, in turn, led boutique studio players to offer services with higher experiential factor and smaller and focused workout sessions.
As millennials account for a larger share in the health club membership across the world, demand for personalized workout experience is here to stay. Amidst the growing popularity of yoga and Pilates, boutique fitness is highly embraced by millennials who are willing to make a considerable investment in fitness and seek the best workout experience.
Along with the personalized Pilates sessions, growing ‘Instagrammable’ nature of boutique studios is spreading the popularity of Pilates. In addition, socializing nature of the boutique studio helps members to achieve results faster, in turn, driving the demand for Pilates equipment.
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Pilates as a Rehabilitation Tool - Beneficial Results to Create New Opportunities for Pilates Equipment Market Players
Use of Pilates as a rehabilitation tool has been around since the past few decades, however, recently, demand for Pilates equipment has increased in rehabilitation programs owing to their perceived as well as proven benefits. A review study carried out at the Macquarie University, Australia, in 2017 has observed that Pilates has been beneficial in the majority of clinical trials while leading to effective outcomes, especially in reducing pains and disability.
Following the clinical benefits, a number of establishments such as Pilates rehabilitation centers specifically for injury rehab programs have been observed. Dissemination of knowledge regarding the beneficial effects of Pilates in rehabilitation programs, especially in effectively addressing and mitigating the effects of musculoskeletal disorders and other health conditions have increased the demand for Pilates equipment in rehabilitation centers.
Third Party Online Channel Grows Rapidly as Discount Deals Combine with Convenience in Pilates Equipment Market
Attractive discounts and increasing home gym trend are prime fillips responsible for the soaring sales of fitness equipment through the online sales channel. Prominent players in the Pilates equipment market are collaborating with popular e-commerce platforms to increase exposure of their product offerings. In addition, companies in the Pilates equipment market such as Merrithew Corporation, Stamina Products, Inc., Peak Pilates and Balanced Body have a strong online presence that serves both branding and e-retailing purposes.
In the Pilates equipment market report, the competitive landscape section provides a dashboard view of the key players in the Pilates equipment market. This segment profiles the product offerings, company market share, global footprints and relative market presence for prominent players in this market.
Prominent players in the Pilates equipment market are engaged in vertical integration, new product innovation and expansion of local distribution network. For instance, Merrithew Corporation, a leader in the Pilates equipment market, in May 2018 has introduced new STOTT PILATES® Specialty Track which is specifically designed for balance, control, restoration and fascia related exercises.
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