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.
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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.
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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
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SOURCE Technavio