In this fast-paced modern life, people don’t have the time to take care of their health. Due to this negligence, there are growing incidences of various diseases across the world. Consequently, consumers are now becoming more health-conscious and are willing to take initiatives on behalf of their fitness and well-being.
As per the report added by Progressive Markets, the “Fitness Equipment Market - Based on Type (Strength Training Equipment, Cardiovascular Training Equipment and Other Equipment), End User (Health Clubs/Gyms, Home Consumer and Other Commercial Users), which says that market is estimated to garner $13535.4 million by 2025, growing at a CAGR of 3.81%
Market Drivers and Restraints:
The market for fitness equipment is growing at a considerable rate and several factors are playing a role in supporting its growth. The growing number of fitness conscious consumers and the rise in awareness of health and fitness benefits are mainly driving the market growth.
The trend is prominent in the urban areas. The market would witness a constant growth in the semi-urban areas of the developing economies.
Moreover, a rise in the number of obese population around the world is propelling the demand for fitness equipment.
The lack of exercise and improper diets are the major causes of obesity, leading to several cardiovascular and lifestyle diseases. As a result, cardiovascular equipment is the most popular choice for weight loss.
The initiative for starting several healthcare programs by governments in the developed economies is yet another driving factor for the growth of the market. Developing countries exhibit a considerable growth of this trend for healthcare offerings across several sectors.
On the other hand, the expensiveness of fitness equipment is a major factor that hinders the growth of the fitness equipment market. This leads to obtaining second-hand equipment by start-up gyms & fitness centers and in-house users.
A growing demand for resale products was seen to upgrade fitness facilities in hotels, health clubs, hospitals, and wellness centers.
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Fitness Equipment Market Segmentation:
The fitness equipment market analysis report studies the overall market segmented by type, end user, and geography. Based on the type, the market is divided into cardiovascular training equipment, strength training equipment, and other equipment.
The cardiovascular training equipment segment is further divided into treadmills, elliptical, stationary bike, rowing machine, and others. By end user, the market is divided into home consumer, health clubs/gyms, and other commercial users.
The other commercial users segment is again divided into hotels, corporate offices, hospitals & medical centers, and public institutions (schools, universities, and others). Geographically, the fitness equipment industry is analyzed across the North America, Europe, Asia-Pacific, and LAMEA.
In North America, the fitness equipment market report provides a detailed analysis of the regions such as the U.S., Mexico, and Canada. In Europe, a detailed analysis is offered for UK, Italy, Germany, France, Spain, Portugal, Benelux, and the rest of Europe.
In Asia-Pacific, the market study is covered for Japan, Korea, China, India, Hong Kong, Indonesia, Vietnam, Australia, Malaysia, and the other parts of the region. In LAMEA, the analysis is covered for Brazil and rest of Latin America.
Key Market Players:
The key players operating in the fitness equipment industry are Brunswick Corp., ICON Health & Fitness Inc., Johnson Health Tech Co. Ltd., Amer Sports Corp., Torque Fitness LLC, Impulse (Qingdao) Health Tech Co.
Ltd., TRUE Fitness Technology Inc., Technogym S.p.A., and Core Health & Fitness LLC. Other players include Exigo, Matrix Fitness, Kettler (GB) limited, Nautilus, Inc., and Octane Fitness.
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Key Benefits of the Report:
The report offers an in-depth analysis of the overall fitness equipment market with the help of fitness equipment market size, fitness equipment market share, fitness equipment market outlook, market dynamics, Porter’s analysis, fitness equipment industry statistics, trends analysis, and major competitors. The study accurately estimates the fitness equipment market forecast the fitness equipment market size, helping understand the current and future potential of the market.
The report explains the market dynamics by offering details on aspects such as the drivers, restraints, and opportunities for growth. An analysis based on product type assists in understanding the various types of devices used for the treatment of neurological diseases and other related conditions.
The fitness equipment industry statistics determine market share and market potential. The fitness equipment market share analysis determines the level of competition prevailing within the market.
They can then use these current statistics to examine and develop marketing strategies to increase their market share. An analysis of the various aspects of the key industry players such as their financial strategies, recent developments, and an overview of their products and services are provided.
The current trends and estimations for future help to identify the profitable investment pockets. A quantitative analysis from 2016 to 2025 helps stakeholders take advantage of the existing market opportunities.
The competitive analysis focuses on the business practices and leading players across the countries. The SWOT analysis offers insights into the internal environment of the existing market players for strategy formulations.
The report discusses the factors necessary for the market players and new entrants to survive and achieve success in the market. It is a useful tool for guidance for commercial gym equipment manufacturers, fitness equipment manufacturers, commercial exercise equipment manufacturers, and fitness equipment suppliers.
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