Fitness Equipment Market size was estimated at over USD 10 billion in 2016 and to exceed USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. Furthermore, there is an increase in health awareness among the global geriatric population, predominately in the Asia Pacific and Europe regions, causing the baby boomer generation to enroll in specialized gyms and health clubs. The natural aging process can lead to a decrease in agility, muscle mass deterioration, and, consequently, an increase in medical expenditure.
Rising disposable income of the middle-class population is a major factor propelling the growth of the Asia Pacific fitness equipment market. Additionally, an increasing number of organizations are identifying the benefits of providing corporate wellness programs to their employee base. Government initiatives to improve the health of the citizens is creating growth opportunities for the industry.
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Rising health initiatives and programs to combat the increasing instances of weight-related diseases is a major factor driving the fitness equipment market growth. The Australian government, for instance, promotes healthy eating habits and provides free gym memberships to the general population to combat diabetes and heart related diseases.
Approximately 38% of the adult population in the U.S suffers from obesity and the instances of childhood obesity is rapidly increasing. The disease can lead to an increased chance of cancer, cardiovascular illnesses, childbirth problems, and asthma.
The cardiovascular equipment market is anticipated to dominate globally with approximately 5% CAGR from 2017 to 2024. Modern cardiovascular devices are equipped with body vital trackers and software apps that can be connected to the consumers’ smartphones or handheld devices. Furthermore, the high emphasis on weight-loss and leaner body figure is escalating the fitness equipment market demand.
Browse key industry insights spread across 132 pages with 117 market data tables & 24 figures & charts from the report, “Fitness Equipment Market Size By Equipment (Cardiovascular, Strength Training), By End-Use (Home, Health Clubs, Office, Hotel), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, France, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024” in detail along with the table of contents:
The home fitness equipment market segment is projected to experience high growth over the forecast timespan. Home gyms boost privacy, eliminate the inconvenience of commuting, and are cost effective in the long run. Furthermore, consumers are more likely to purchase cardiovascular equipment as they are durable and provide more functionality to the user.
Players operating in the global fitness equipment market include Brunswick Corporation, Amer Sports, HOIST Fitness Systems, Nautilus, Inc., Torque Fitness, True Fitness, etc. The industry is characterized by many new entrants investing heavily in the development of this technology, primarily small strength training equipment such as free weights.
The industry is moving towards consolidation, with a number of mergers and acquisitions seen in the past few years; for instance, the acquisition of LeMond by HOIST systems to expand their product offerings.
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Fitness equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2012 to 2024, for the following segments:
- Fitness Equipment Market, By Equipment
- oStrength Training
- Fitness Equipment Market, By End-Use
- oHealth Club
The above information has been provided on a regional basis for the following:
- North America
- Asia Pacific
- oSouth Korea
- Latin America
- Middle East and Africa
- oSaudi Arabia
- oSouth Africa
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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