PUBLISHER: Allied Market Research | PRODUCT CODE: 1193351
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193351
The global Pilates equipment and gears market was valued at $175.62 million in 2021, and is projected to reach $521.82 million by 2031, registering a CAGR of 10.5%. Pilates equipment range from small, portable devices such as resistance bands, Pilates mats, and Pilates rings to many larger devices, including Pilates reformers, Pilates chairs, and Cadillac. People's perception of wellness as a part of their lifestyle, improvement in convenience & accessibility of performing exercises under the guidance of a trainer in a proper Pilates studio, and availability of Pilates equipment at a fair price have fueled the adoption and introduction of Pilates studios and better business models. Owing to these factors, the Pilates equipment and gears market will propel during the projected period.
The increase in the incidence of diabetes and obesity has led to a revolution in the fitness industry, as a result of which, the concept of Pilates has caught significant traction in the fitness industry. With advertisements promoting weight loss across the globe, the number of gym and health club memberships has witnessed a surge in recent years. Fitness & recreational sports centers have increasingly focused on innovative marketing strategies to attract consumers. They are expanding their services & product portfolios to tap the lucrative markets and increase their customer base. Owing to growth in the franchising of fitness gyms, these establishments are scaling up their businesses to improve their outreach. Moreover, multinational fitness chains are increasingly taking the franchise option to enter emerging markets such as India. Thus, such trends across the globe are expected to keep the Pilates equipment and gears market in a dynamic state and on the growth path. Currently, many employees are made to work 60 hours a week, which not only affects their work productivity but also deprives them of leisure & personal time. Thus, busy work schedules hamper my time and act as a restraint for the global Pilates equipment and gears market.
The COVID-19 outbreak and subsequent repercussions caused a substantial economic downturn. During its initial months, tens of millions of people lost their employment. Although the production of Pilates equipment in the manufacturing firm began to recover after a few months, unemployment remained elevated in 2020. During the pandemic, millions of people were unemployed and struggled to afford basic food & housing. According to the U.S. Bureau of Labor Statistics, nonfarm payroll employment rose by 372,000 in June 2021, and the unemployment rate remained at 3.6% in the year 2022. Thus, such factors are expected to hamper the market growth during the forecast period as consumers will be focused on investing in their basic necessities of food and shelter instead of investing in Pilates fitness regimes.
The Pilates equipment and gears market is segmented into equipment type, application, distribution channel, and region. On the basis of type, the market is categorized into Pilates reformers, Pilates mats, Pilates balls, Pilates rings, Pilates towers, barrels and arcs, Pilates Cadillac, chairs, gears, And others. By application, it is fragmented into commercial spaces, residential spaces, and others. Depending on the distribution channel, it is segregated into supermarkets/hypermarkets, specialty stores, retail stores, e-commerce, and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, Italy, Spain, the UK, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and Africa).
The Pilates equipment and gears market is classified on the basis of type, application, distribution channel, and region. By type, the market is segmented into Pilates reformers, Pilates mats, Pilates balls, Pilates rings, Pilates towers, barrels & arcs, Pilates Cadillac, chairs, gears, and others. The Pilates reformers segment is expected to dominate during the Pilates equipment and gears market forecast period. Moreover, the gears segment will grow at the fastest growth rate during the forecast period. On the basis of application, the market is classified as commercial spaces, residential spaces, and others. By distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, retail stores, e-commerce, and others.
According to the Pilates equipment and gears market analysis, on the basis of type, the Pilates reformers segment garners the largest market share in 2021. The reformer machine resembles a bed with a sliding carriage, ropes, and pulling mechanisms. This machine is designed to add resistance to the exercises, making it a more challenging or physically demanding form of Pilates. Moreover, practitioners can perform advanced Pilates on Pilates reformers which strengthens the core muscles. Pilates reformers increase flexibility, promote better balance, mobilize the spine, and enhance coordination. Such factors are propelling consumers to purchase reformers, thereby driving market growth.
By application, the commercial space segment dominated the market in 2021 with a market share of more than 55% and is expected to dominate during the forecast period. The increase in commercial Pilates studios in developed and developing regions around the globe is fueling the need for equipment and gear. Customers prefer to practice Pilates exercises in commercial studios under the supervision of a trainer, which increases the need for equipment and gear to meet the demand. An increase in health awareness among the global population raises the demand for Pilates commercial training studios, which drives the growth of the market in commercial space. In addition, growth in modernization and changes in lifestyle has caused devastating effects on the health of people, which has fostered the Pilates equipment and gears market opportunity for growth.
By Type
By Application
By Distribution Channel
By Region