Gymnastics Equipment Market to Witness Widespread Expansion During 2018 to 2028
The gymnastics equipment market is projected to register a steady 3.2% value CAGR during the period of forecast, 2018-2028.
[UKPRwire, Tue Apr 16 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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The gymnastics equipment market report highlights various trends, drivers, and restraints impacting the demand and sales of gymnastics equipment. In-depth opportunity analysis and impact analysis on gymnastics equipment market can be used by the reader to enhance profitability. The report also covers information on major players participating in the gymnastics equipment market along with their key aspects.
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.
Championship Initiatives are an Effective Platform for Gymnastics Equipment Promotion
Demand for gymnastics equipment is likely to witness a steady increase with increasing number of championship initiatives worldwide. Several non-profit organizations and authorities are focusing on promotion of gymnastics equipment using gymnastics championships as a major platform. Apart from recreational quotient, this initiative has given a competitive touch to the sport, in turn supporting sales of gymnastics equipment worldwide. Moreover, championship initiatives have also pushed individuals to participate in national and international events which is expected to significantly contribute to the growth of the gymnastics equipment market. Recently, the Federation Internationale de Gymnastique (FIG) has announced its initiative to conduct gymnastics championships in China in November 2018. Similarly, the International Gymnastics Federation has also initiated Academy Level 2 Championships in Uzbekistan by inducing a premium touch to the event in a bid to attract participants and enthusiasts. This factor is expected to fuel demand and sales of advanced gymnastics equipment in the coming years, in turn augmenting growth of gymnastics equipment market.
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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 report on gymnastics equipment market includes compilation on various insights that are garnered using an exclusive research process. Being a combination of primary and secondary research methods, this process enables gleaning of highly accurate data and statistics on gymnastics equipment. Numerous interviews with opinion leaders, key stakeholders, market observers and subject matter experts are carried out to obtain a thorough understanding of the gymnastics equipment market. Data gathered from primary, secondary and paid sources is triangulated using which qualitative and quantitative assessment on gymnastics equipment market is drafted providing an unbiased intelligence report to the readerís perusal.
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