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The luxury massage chair market share in US is expected to increase by USD 724.28 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.42%.
This luxury massage chair market in US research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers luxury massage chair market in US segmentations by end-user (residential and commercial) and distribution channel (offline and online). The luxury massage chair market in US report also offers information on several market vendors, including Beurer GmbH, Casada International GmbH, Daiwa Massage, FUJI MEDICAL INSTRUMENTS Mfg. Co. Ltd., Human Touch LLC, Infinity Massage Chairs, Ogawa World USA LLC, OTA World LLC, Panasonic Corp., and Zarifa Corp. among others.
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The health benefits of massage chairs is notably driving the luxury massage chair market in US growth, although factors such as high average life of luxury massage chairs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury massage chair industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Luxury Massage Chair Market Driver in US
One of the key factors driving the luxury massage chair market growth in US is the health benefits of massage chairs. In the US, about three-fifths of the population is employed. Owing to such a large working population, the prevalence of work stress-related health conditions, such as obesity, anxiety, depression, high blood pressure, and poor blood circulation, has witnessed a significant increase. In the US, about two-fifth of the working population was suffering from work-related stress as of 2021. This work-related stress leads to about 0.12 million deaths each year. Considering this catastrophic effect of work-related stress, a large part of the working population across the US is becoming health conscious and adopting solutions that help in reducing stress and its physiological symptoms, such as body pain. Consequently, the demand for luxury massage chairs is witnessing a considerable rise across the US. This is expected to drive the luxury massage chair market in US during the forecast period.
Key Luxury Massage Chair Market Trend in US
Increased integration of AI in luxury massage chairs is the major trend influencing luxury massage chair market growth in US. Artificial intelligence (AI) is an important emerging technology in the global electronics industry. Several electronic equipment manufacturing companies are adopting AI technology to enrich their offerings and to sustain themselves in the highly competitive market. Similarly, vendors in the luxury massage chair market in US are also focusing on integrating AI technology in their offerings. For instance, in November 2019, Ogawa World USA LLC (Ogawa) launched its new massage chair, called Master Drive AI. The company spent around $30 million on the development of the Master Drive AI massage chair. The chair is integrated with the Ogawa-designed 4D L-track massage mechanism, which can adjust the massage intensity and apply heat therapy. Owing to this, several new AI-powered massage chairs are expected to be launched in the market during the forecast period.
Key Luxury Massage Chair Market Challenge in US
High average life of luxury massage chairs is one of the key challenges hindering the influencing luxury massage chair market growth in US. The lifecycle of most luxury massage chairs is high, due to which they do not require frequent replacement. Consumers purchase luxury massage chairs only if and when required or to replace old luxury massage chairs. The replacement cycle of these products is low, as they are generally high-quality products, which can endure long-term use. Also, consumers usually incur minimal maintenance costs for these products over the years, which reduces the need for frequent purchases of luxury massage chairs, which hampers new sales and acts as a major growth deterrent for the market.
This luxury massage chair market in US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the luxury massage chair market in US as a part of the global leisure products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the luxury massage chair market in US during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the luxury massage chair market in US encompasses successful business strategies deployed by the key vendors. The luxury massage chair market in US is fragmented and the vendors are deploying growth strategies such as focusing on the development of massage chairs with advanced features, such as AI-integrated massage chairs to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The luxury massage chair market in US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the luxury massage chair market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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The luxury massage chair market share in US growth by the residential will be significant during the forecast period. The increasing number of high-net-worth individuals (HNWIs) is anticipated to increase the demand for luxury massage chairs during the forecast period.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury massage chair market size in US and actionable market insights on post COVID-19 impact on each segment.
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Luxury Massage Chair Market Scope in US |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.42% |
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Market growth 2021-2025 |
$ 724.28 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.07 |
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Regional analysis |
US and US |
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Performing market contribution |
US at 100% |
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Key consumer countries |
US and North America |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Beurer GmbH, Casada International GmbH, Daiwa Massage, FUJI MEDICAL INSTRUMENTS Mfg. Co. Ltd., Human Touch LLC, Infinity Massage Chairs, Ogawa World USA LLC, OTA World LLC, Panasonic Corp., and Zarifa Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Distribution channel
7 Customer landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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