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.
Pervasive over three decades, popularity of Pilates is expected to show no signs of slackening, despite its technical demands, hardcore reputation, and rigorous nature. While Pilates equipment sales have remained concentrated in the direct-to-consumer channel, sales in specialty stores and third-party online channel are likely to pick pace in 2018, with revenues from specialty stores expected to be slightly greater than those from the third party online channel.
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The study opines that buoyant prospects of the fitness industry and health club industry are few of the prime fillips responsible for the steady growth trajectory of the Pilates equipment market. According to the International Health, Racquet & Sportsclub Association (IHRSA), in the United States, health club membership grew by 33.6% during 2008-2017.
The Pilates equipment market remains highly fragmented with the presence of a large number of small players that address the increasing demand for Pilates equipment in local health clubs. Tier 3 players in the Pilates equipment market, as per Fact.MR valuation, hold over 60% of the overall Pilates equipment market shares.
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The Pilates equipment market report is categorized into different segments wherein the market structure is based on product type, buyer type and sales channel type.
The Pilates equipment market is also studied for a total of five regions including North America, Latin America, Europe, Asia Pacific and Middle East and Africa.
Based on product type, the Pilates equipment market is categorized into Cadillac, reformers, chairs, barrels & arcs, Pilates towers and accessories such as – rotational discs, weighted poles & bags, jump boards, boxes & cushions, straps & handles.
The Pilates equipment market is categorized into two types of buyers including individual and institutional. Institutional buyers in Pilates equipment market are further subcategorized into Pilates clubs and health clubs.
Growth of mindful-based exercises such as yoga have indicated a shift in the way Millennials choose to take proper care of their health. While higher intensity exercises have remained a pervasive trend, recent rise in awareness on improved posture and good muscle balance has further upheld popularity of fitness exercises such as Pilates, thereby driving its equipment growth. Owing to the increasing preference for on-demand and personalized workout session among millennials, popularity of ‘Boutique Studios’ has grown significantly.
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Also, increasing importance of Pilates in rehabilitation programs has led manufacturers in the Pilates market to introduce Rehab-specific product offerings. For instance, Merrithew Corportaion has launched rehab Pilate accessory bundles and rehab course packages on its online store.
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