Fitness Equipment Market- The Gym of the Future
Posted: Jun 05, 2018
MarketResearch.biz has published a new report titled Global Fitness Equipment Market, which offers a holistic view of the fitness equipment market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 59,597.2 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the fitness equipment market is projected to reach a value of over US$ 15,500 Mn in 2026 at a CAGR of 4.1% over the forecast period. According to a study conducted by the Center for Disease Control and Prevention, in 2012, stated that 34.9% of US adults are obese. According to a survey analysis conducted in 2015, Arkansas, West Virginia, and Mississippi reported obesity rates exceeding 35%, which has led to relatively higher adoption of cardiovascular equipment.
Growing health-conscious population particularly between the age group of 20-35 years and Fitness equipment plays a major role in physical exercises, to manage overall weight, improve physical stamina, and develop muscular strength of an individual. As such fitness equipment are considered a major part of the health and fitness industry. Fitness equipment includes treadmills, free weights, weight machines, elliptical trainers, and many more. Growth of the global fitness equipment market is driven by industry players focusing intensely on research and development of new, easy-to-use, and cost-effective fitness equipment, coupled with growing awareness about fitness among individuals in developed and developing countries.
Global Fitness Equipment Market: Market Dynamics
High prevalence rate coupled with increasing incidence of obesity in developed and in some developing countries, coupled with growing awareness among individuals abut fitness are major factors driving growth of the global fitness equipment market. In addition, increasing government initiatives for spreading awareness about fitness, and growing adoption of fitness equipment by households across developed and developing economies are other major factors expected to fuel growth of the global fitness equipment market over the forecast period. Moreover, manufacturers developing & introducing multi-functional fitness equipment that provides entertainment in the form of video and audio streaming, and internet connectivity through Wi-Fi is another factor anticipated to aid in growth of the global fitness equipment market to a significant extent.
Increasing incidence of obesity, and chronic heart diseases across the globe coupled with rising awareness regarding health & fitness is expected to drive growth of the global fitness equipment market. In addition, increasing number of fitness centers that offers various packages & discounts for weight loss, and health fitness programs is another factor expected to propel growth of the global fitness equipment industry to a significant extent.
However, high cost of fitness equipment is a major factor restraining growth of the global fitness equipment market. Additionally, certain types of fitness equipment are used most of the day by various types of individuals which leads to the need of proper and periodic maintenance. This is another factor anticipated to hamper growth of the global fitness equipment market.
Development of more cost-effective and multi-functional fitness equipment especially for households in emerging economies, can create major potential opportunities for players in the market.
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Global Fitness Equipment Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global fitness equipment market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global fitness equipment market is expected to expand at a moderate CAGR of 4.1% during the forecast period.
Global Fitness Equipment Market: Segmental Snapshot
The market report has been segmented on the basis of type, end user, and region. The type segment includes cardiovascular training equipment and strength training equipment. The end user segment includes health clubs, home consumers, and other commercial users. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By type: The cardiovascular training equipment segment accounted for highest revenue share contribution as compared to that of the strength training and others segments. The cardiovascular training equipment segment is expected to register a CAGR of over 4.0% between 2017 and 2026.
By end user: The health clubs end user segment is estimated to register highest CAGR of 4.4% as compared to that of the other end user segments. Also, it is projected to account for a dominant revenue share in the global prefilled syringes market over the forecast period.
By region: The market in North America accounted for highest revenue share in the global fitness equipment market in 2016, and is expected to register a CAGR of over 4.0% between 2017 and 2026.
Global Fitness Equipment Market: Competitive Analysis
The research report on the global fitness equipment market includes profiles of some of major companies such as BRUNSWICK CORPORATION, Johnson Health Tech. Co., Ltd., Technogym S.p.A., Amer Sports Corporation, Nautilus, Inc., Cybex International, Inc., ElliptiGO Inc., NordicTrack Inc., Body-Solid, Inc., and Torque Fitness LLC.
The Global Fitness Equipment Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Fitness Equipment Market for 2017-2026.
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