Analysis of Parallel Bars market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
As the popularity of the sports industry continues to proliferate, parallel bars are all set to gain increased traction in the forthcoming years. Parallel bars are generally used by gymnast to perform artistic gymnastics. The apparatus parallel bars consists of two parallel bars elevated above the floor and is held parallel with the help of the supporting framework.
The parallel bars were invented by Friedrich Ludwig Jahn in Berlin in the 18th century. Various exercises such as swings, dips, chest dips, L-sits, leg lifts, inverted pushups, pull-ups can be done with the help of parallel bars which not only helps to increase upper body and core strength but also improves coordination, endurance and overall physical performance.
Growing health consciousness and booming popularity of the functional fitness coupled with increasing participation of females in the functional fitness is all set to boost demand of parallel bars in the upcoming years.
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Growing consumer awareness about health and fitness, the emergence of e-commerce and increased participation in sports activities are some of the prime drivers impelling the growth of the parallel bars in the forecast period.
International games like Olympic Games, Commonwealth Games, Asian Games and all other international games events gets vast media coverage which further encourages the youth to take part in sports. That said, the growth of the global sports industry is likely to translate into considerable growth of the parallel bars market during the forecast period.
In order to keep pace with the rapidly changing trends in the global sports industry, the parallel bars manufacturers are adopting new technologies and introducing new novel products to compete in the market. Mass media also has an eloquent impact on the rising demand of gymnastic equipment, such as parallel bars, around the world. Various movies have contributed majorly in uplifting the demand for parallel bars, which is reflecting in a big spike around the world. Films with the base of gymnastics such as full out, raising the bar, A 2nd Chance,
The Gymnast, Gymkata have made an indelible impact on the youth across countries. The rising number of youngsters participating in gymnastics due to the influence of media including films books, etc. is boosting the demand for parallel bars rapidly.
Even though there is a positive outlook for parallel bars market in the forecast period, however, certain factors might impede the demand for parallel bars in the future. One such factor includes increasing risk of injuries while performance. In a span of last three Olympic Games, a total of 81 injuries were reported. Ankles were the most susceptible for injuries, whereas sprains were the most common injury type. Such physically demanding and challenging sport with a high risk of injuries can be a major restraint for the parallel bars market.
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In terms of regional demand for parallel bars, developed economies like North America and Europe leads in significant sales of parallel bars owing to a large number of clubs in the region. High growth can be attributed to the developing regions of Asia Pacific and Latin America. The parallel bars market consists of global as well as regional players. Some of the leading manufacturers of the parallel bars market are
and various local and global players.
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This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
The global parallel bars market can be segmented on the basis of product type, sales channel and region. On the basis of product type, parallel bars market can be further segmented into mounted type parallel bars and foldable parallel bars. Even though market share for mounted type parallel bars is more, high growth for foldable parallel bars can be seen in the nearby future. On the basis of sales channel, parallel bars market can be further segmented as independent stores, sports chain outlets, specialty stores and online channels. Although independent sports outlets lead in terms of market share in the parallel bars market, third-party online sales channel will register the highest growth rate for the global parallel bars market in the forecast period.
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The parallel bars market size is currently valued at USD 176.2 Million.
The size of the parallel bars market is likely to expand at a 8.9% CAGR during the forecast period.
The North America region is likely to lead the market.
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