Fact.MR foresees that the gymnastics equipment market is projected to register a steady 3.2% value CAGR during the period of forecast, 2018-2028.
[INPRwire, Tue Apr 02 2019] Gymnastics is sporting activity that is a combination of agility, strength, coordination, endurance, flexibility and balance. Gymnastics events are regulated by Federation Internationale de Gymnastique (FIG). Each country has a spate body governing gymnastics that are affiliated to Federation Internationale de Gymnastique. Gymnastics equipment are essentially those used while carrying out gymnastics activities. There are various types of gymnastics equipment, such as balance beams, vaults, rings, floor, pommel horse and athletic bars.
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“Gymnastics Equipment Market Forecast, Trend Analysis and Competition Tracking – Global Review 2018-2028” is an extensive research that delivers key insights on several market segments along with actionable intelligence apropos to the adoption of gymnastics equipment across various industries. The gymnastics equipment market report offers historical data along with forecast estimations that are represented in US$ Mn in terms of value during 2018-2028. The report on gymnastics equipment market includes analysis various dynamics and growth impacting factors such as trends, drivers, opportunities and restraints across key regional markets worldwide. The gymnastics equipment market report is a systematic compilation of various facets covered chapter wise as detailed below.
Participation Rate in Gymnastics Witnessing an Increase Owing to the Pervasive ‘Recreational Activity’ Trend
Sales of gymnastics equipment is largely influenced by growing investment of individuals in recreational sporting activities. Fast paced lifestyle of people has triggered increasing participation of individuals in various recreational activities and gymnastics are no exception. Gymnastics as a recreational activity, has gained significant traction with an increasing number of people inclined toward participating in the sport at the global front. For instance, according to analysis of the Gymnastics Trade Association, more than 1.6 million residents from United States alone participated in gymnastics for recreation as well as on a competitive front in 2016 and the number is likely to increase in the coming years. Moreover, SFIA (Sports and Fitness Industry Association) reveals that participation in gymnastics as a recreational sporting activity is expected to gain popularity in the forthcoming years with around 84 percent core gymnastics enthusiasts being females. Rising popularity of gymnastics as a recreational activity is expected to fuel the demand for various gymnastics equipment, in turn supporting growth of the gymnastics equipment market during the period of forecast.
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Significant Increase in Sales of Gymnastics Equipment on the Back of Mushrooming Gymnastics Clubs
Realizing the benefits of gymnastics exercises and activities, gymnastics clubs are focusing on adding various activities in their facilities which is expected to drive the demand for gymnastics equipment such as high bars, horizontal bars, vaults and balance beams. This factor, coupled with mushrooming gymnastics clubs across regions in the globe is expected to complement the growth of the gymnastics equipment market during the period of forecast. According to the Federation Internationale de Gymnastique (FIG), a 5 percent increase in gymnastics clubs were recorded in 2016 and the gymnastics club industry is expected to further increase on the back of increasing participations and registrations. Rising number of gymnastics clubs is expected is expected to push the sales, thereby complementing growth of the gymnastics equipment market.
Social Media Playing a Major Role in Influencing Youth Participation in Gymnastics
Pervasiveness of social media is expected to fuel the demand for the gymnastics as a fitness sport, consequently complementing sales of gymnastics equipment worldwide. Widespread reach of social media platform is likely to trigger enhanced participation of individuals in the sport, which is expected to spur sales of gymnastics equipment. Several documentaries, shows and films highlighting advantages of gymnastics embossing a significant impact on youth, which is poised to further increase the demand for gymnastics equipment worldwide.
The gymnastics equipment market report provides a complete intelligence package to the reader by providing valuable insights on the key players involved in the manufacturing and distribution of gymnastics equipment. This chapter in the report provides assessment on key aspects such as product portfolios, SWOT analysis, key personnel, company overview, market shares, recent innovations and developments in design, and growth strategies. Key companies operating in gymnastics equipment market include ABEO SA, Marty Sports, Norberts Athletic Products Inc., Mizuno Corporation and American Athletic Inc.
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