The global massage equipment market size was valued at USD 23.86 billion in 2023. The market is anticipated to expand from USD 25.26 billion in 2024 to USD 41.18 billion by 2032, exhibiting a CAGR of 6.30% during the forecast period.
Massage chairs, back massagers, massage machine guns, and foot massagers are globally utilized by therapists in massage centers and spas, driven by the increasing significance of massage therapy in stress and muscle tension relief. The integration of sensors and artificial intelligence (AI) technology into electric massage therapist equipment, such as massage chairs and foot massagers, is a key driver of market growth.
The wellness sector faced challenges due to travel restrictions and business shutdowns during the COVID-19 pandemic, negatively impacting the demand for massage equipment and hindering market growth.
Fortune Business Insights™ provides this information in its research report, titled “Massage Equipment Market, 2024-2032”.
Information Source: https://www.fortunebusinessinsights.com/massage-equipment-market-109491
List of Key Players Mentioned in the Report:
- Johnson Health Tech (U.S.)
- Beurer (Germany)
- Ogawa World (Malaysia)
- OSIM Technologies (Singapore)
- Luraco Technologies (U.S.)
- Panasonic (Japan)
- RoboTouch (India)
- Casada Healthcare (Germany)
- Family Inada (Japan)n
- Osaki (Japan)
Segmentation:
Massage Chair Segment to Dominate Owing to Increased Consumer Awareness of the Therapeutic Advantages
In terms of type, the market is fragmented into back & shoulder massagers, foot & leg massagers, massage chairs, and others. The massage chair segment captured the highest market share in 2023 owing to heightened consumer awareness of the therapeutic advantages of full-body massages in alleviating stress and pain.
Commercial Segment Held the Highest Market Share owing to Increasing Wellness Centers and Spas
In terms of end-user segment, the market is fragmented into residential and commercial. The commercial segment secured the highest massage equipment market share in 2023. The segment's growth is bolstered by a surge in the number of wellness centers and spas globally, creating a robust market for the product.
Offline Sector Dominates the Market Due to In-Person Trial Opportunities
In terms of distribution channel, the market is divided into offline and online. The offline sector holds the key market share. The offline sector's dominance is fueled by retail stores that offer customers the opportunity to trial specific massage equipment before making a purchase, enhancing consumer confidence and driving sales.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The comprehensive global market report thoroughly examines key elements, including leading companies, offering insights into market trends and crucial industry advancements. Additionally, the report delves into various factors fueling the market's growth. The research provides a detailed overview of the market landscape and its dynamic components.
Drivers and Restraints:
Rising Number of Massage Centers & Spas to Spur Market Growth
The global growth in the beauty and wellness sector, propelled by rising awareness of individual health and well-being, is a significant factor driving the demand for the product. Moreover, the escalating prevalence of sedentary lifestyles among the working population is amplifying the need for massage therapists, contributing to a heightened demand for diverse massage equipment, including full-body, back, master, and self-massage equipment.
However, fluctuations in raw material costs, such as steel and aluminum, pose a challenge to the massage equipment market growth, impacting production stability and pricing.
Regional Insights:
North America Emerged as a Key Region Owing to Increased Tourism
North America developed as a lucrative region in 2023, with expected positive growth in the coming years. Increased tourism in the region serves as another catalyst, propelling positive growth trends in the region’s market.
Growing disposable income in the Asia Pacific region acts as a catalyst for market expansion, allowing consumers to invest more in self-care, driving the demand for massage equipment.
Competitive Landscape:
Key Industry Participants Focus on Cutting-Edge Technology to Introduce Innovative Massage Products
The global market is fiercely competitive with medium and large players striving for product differentiation. Manufacturers employ cutting-edge technology to introduce innovative massage products, while major players focus on partnerships, mergers, and new product development to enhance market shares.
Key Industry Development:
January 2021: Singapore-based OSIM Technologies unveiled the uThrone, a gaming massage chair, integrating hand massage technology to address pain points for gamers enduring extended desk hours. The chair caters to specific needs, offering a tailored solution for prolonged gaming sessions.
Comments
0 comment