Global Fitness Equipment Market was valued US$ 10.75 Bn in 2017 and is expected to reach US$ 15.2 Bn by 2026, at CAGR of 4.42% during forecast period.
The rapid change in the consumer lifestyle due to busy working schedules and unhealthy food consumption drives the fitness equipment market growth. Transition in living habits across the globe is leading to an increase in the rate of chronic diseases and obesity, further creating the need for exercise and fitness among youngsters. Additionally, supportive government initiatives in several countries spread fitness related awareness among the population contribute to industry growth. For instance, the U.S. Department of Health and Human Services launched a physical activity initiative for children that ensures better health and improves students’ performances. Furthermore, the growing population in developing countries is another reason for the fast growth of the fitness equipment market. The majority of the population is included of youths, creates good opportunities for fitness equipment market. Types of training equipment include cardiovascular training equipment, strength training equipment, and others.
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The development of wearable technology and the incorporation of smart devices in fitness machines and gyms are boosting the fitness equipment market demand. Connected devices, such as activity trackers & smart watches, track the consumers’ performance and actual exercise timings. Additionally, the development of smart gyms and increasing consumption of household fitness machines help to raise the demand for fitness equipment. A number of manufacturers have launched smart exercising machines, such as Bluetooth dumbbells & connected rowing machines, to enhance the consumer experiences. Such as, Peloton introduced its home cardio bike that comprises a 22-inch touch screen display and supports the iOS application for tracking the performance.At the same time lack of knowledge about the advantages of these machines among the rural population across various developing countries is hindering the fitness equipment market growth. Additionally, high costs associated with the modern exercise machinery due to the technical advancements impacts the industry demand across the globe.
Based on type, cardiovascular training equipment is expected to remain the dominating throughout the forecast period on account of its greater penetration in developed markets such as the U.S. and Europe. Emerging nations, such as Asia-Pacific and LAMEA, are expected to witness higher growth rates over-developed regions on account of an increase in health consciousness, a rise in disposable income, and an increase in obesity levels.
North America is expected hold the largest share of global fitness equipment market during the forecast period, The North America fitness equipment market accounted for two-fifths of the total market share in 2017. The U.S. expected the highest penetration of cardiovascular equipment across the world because of high obesity rates and increased health consciousness. On the other hand, The Asia-Pacific fitness equipment market is projected to grow at the highest CAGR of 6.7% during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Fitness Equipment Market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Fitness Equipment Market.
Scope of Global Fitness Equipment Market:
Global Fitness Equipment Market, By Type:
o Stationary Bike
o Rowing Machine
• Strength Training Equipment
• Other Equipment
Global Fitness Equipment Market, By User:
• Health Club/Gym
• Other Commercial User
o Corporate Office
o Hospitals & Medical Center
o Public Institution
Global Fitness Equipment Market, By Region:
• Central & South America
• Middle East & Africa
Key Players Operated in Market Include:
• Brunswick Corporation
• Johnson Health Tech Co. Ltd.
• Amer Sports Corporation
• Nautilus, Inc.
• Core Health and Fitness, LLC
• TRUE Fitness Technology, Inc.
• Impulse (Qingdao) Health Tech Co. Ltd.
• Torque Fitness, LLC.
• Star Trac Health and Fitness Inc.
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