Rising penetration of Hair styling Equipment in the professional hair salons are driving the growth of the market
NEW YORK,, NY, UNITED STATES, February 27, 2020 /EINPresswire.com/ — Goldstein Research published a report, titled, "Global Hair Styling Equipment Market Outlook,2024" which contains detailed overview of the hairstyling equipment market in terms of market segmentation by product type, end-users, distribution channel and geography.
According to the report, global hair styling equipment market size is expected to reach USD 12.7 billion by 2024, growing at a compounded annual growth rate of 5.6% during the forecast period 2016-2024, owing to the fact that people are becoming aware of their body health and beauty looks and have increasing urge to find cure for the issues occurring with their hair, face and other body parts.
Drivers & Challenges to Hair Styling Equipment Market Growth
Rising penetration of Hair styling Equipment in the professional hair salons are driving the growth of the market. Professional users segment contribute more than 40% to the global sales of hair styling equipment. Further, expected high growth of Professional salons in near future & increasing demand for hair styling equipment are together driving the growth of the Global hair styling equipment Market.
Often manufacturers face issues during the export when they find out a new regulation can impact their current batch. The availability of these regulations online is a challenge and those available online present language barriers. This is a common theme across markets like Africa, Latin America, Asia and some European countries.
The beauty salon and spa industry like any other industry faces certain challenges. Some of these challenges that are plaguing growth potential are lack of skilled manpower, organized training institutes, increased operational costs, etc.
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The eCommerce market in Global is booming with the unprecedented growth it witnessed in the last couple of years driven by the speedy technology adoption. The competition in this industry is anticipated to be further intensified with the penetration of the plethora of eCommerce players
But when it comes to beauty devices products a niche segment, the direct online competition is not much currently, with the number of companies operating at a much smaller scale.
The report is available at https://www.goldsteinresearch.com/report/global-hair-styling-equipment-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024
“Global Hair Styling Equipment Market Outlook 2024” by Goldstein Research also highlights the competitive outlook of key players by discussing the business strategies, revenue distribution by multiple business segments, products & services catered by the company, financial reports and other information to provide the business outlook.
Major Key Players of the global hair styling equipment market discussed in the report are:
• Conair Corp.
• Philips N.V.
• Helen of Troy
• Koninklijke Philips
• Beauty Elite Group
• Bio Ionic
• Farouk Systems
• Spectrum Brands, etc.
Further, for the in-depth analysis, the report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
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Source: EIN Presswire