Luxury massage chair market to grow by USD 287.2 million from 2022 to 2027, APAC is estimated to contribute 32% of the market share - Technavio

NEW YORK, Sept. 27, 2023 /PRNewswire/ -- The luxury massage chair market size is expected to grow by USD 287.2 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 3.41% during the forecast period. APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Another region showing market growth is Europe. The main revenue contributors to the luxury massage chair market in Europe are Germany, France, the UK, Italy, Spain, and Russia. Furthermore, growing customer preference for online retail is the latest trend in the massage chair market in European countries due to increasing Internet and smartphone penetration. Manufacturers and retailers have started selling a full range of massage chair products through their online portals. Therefore, these factors are anticipated to propel market growth in the region during the forecast period. Growing work-related stress and the need for stress-relieving solutions are notably driving the luxury massage chair market. However, factors such as Increasing raw materials prices and complexity in supply chain operations may impede market growth. The market is segmented by distribution channel (Offline and Online), end-user (Residential and Commercial), and geography (Europe, North America, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format 

Key Segment Analysis

The market share growth by the offline segment will be significant during the forecast period. To increase sales through offline channels, market participants are directing their sales through local retailers. They also boost sales by executing different marketing strategies. Additionally, major market participants sell their products through specialty stores as it is a convenient retail channel for end users and sellers. Manufacturers rely on these stores and plan their budgets for marketing, advertising, and promotional activities to create product and brand presence among customers. Sales of luxury massage chairs are anticipated to increase at these stores as these stores display a wide range of luxury massage chairs with lowest to highest prices, touch features, categories products, and products of certain brands. Therefore, such factors will drive the growth of the market segment during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View a FREE PDF Sample Report.

Company Insights 

The luxury massage chair market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

body fit Pvt. ltd., Casada International GmbH, Daiwa Massage, Dr.Care International Inc., Family Inada Co. Ltd., FUJI MEDICAL INSTRUMENTS Mfg. Co. Ltd., Human Touch LLC, Infinite Creative Enterprises Inc., iRobo Wellness Pvt. Ltd., Johnson Health Tech Co. Ltd., JSB Wellness, Medical Breakthrough, Ogawa World USA LLC, Online and Ltd., OTA World LLC, Panasonic Holdings Corp., Shanghai Rongtai Health Technology Co. Ltd., V3 Group Ltd., Vitalizer International AG, and Zarifa Corp.

View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

FAQS

• How do the major trends impact the market?
• How big is the APAC market?
• How do the key drivers and challenges impact the market?

Related Reports:

The US - luxury massage chair market size is estimated to grow at a CAGR of 2.56% between 2022 and 2027. The market size is forecast to increase by USD 51.49 million. Furthermore, this US luxury massage chair market report extensively covers market segmentation by distribution channel (offline and online) and end-user (residential and commercial). One of the key factors driving the US luxury massage chair market growth is the rise in the number of geriatric populations in the US.

The automotive seat massage system market size is estimated to grow at a CAGR of 4.1% between 2022 and 2027. The market size is forecast to increase by USD 119.94 million. Furthermore, this automotive seat massage system market report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (front seat massage systems and back seat massage systems), and geography (Europe, North America, APAC, South America, and Middle East and Africa). Increasing electrification in vehicles is notably driving the market growth during the forecast period. 

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio