Fitness Equipment Market 2019 Key Players, Trends, Share, Industry Size, Key Developments, Opportunities and Forecast to 2025
The global fitness equipment market size is expected to reach USD 4.52 billion by 2025. As a result of growing health related issues and increasing obesity. Obesity is a major issue in developed and developing countries. It causes numerous health issues such as heart diseases diabetes, and increase in cholesterol level. To overcome this doctors and physicians are advising to go on a regular exercise and follow a strict eating habit. The United States has recoded with highest number of population suffering from obesity and the rate of obesity is expected to increase in the coming years.
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People are enjoying the perks of technological advancement, as technology is developing rapidly, people are being dependent on it for day to day activities. However, it has reduced the physical activities and has given rise to the need for balancing the bodyweight to stay fit and avoid health related issues. Moreover, exercise is advisable in a variety of medical treatment. Additionally, people are becoming more health conscious and focus more on fitness resulting in a rise in the growth of the fitness industry. The rise in number of fitness clubs globally has increased the demand of fitness equipment industry globally and this demand is expected to grow in the coming years.
Internet has emerged as the strongest platform to drive any trend or market. Influence of social media has resulted in creating a health-conscious society with more number of internet users becoming increasingly aware of their physique and fitness. Consequently, more and more people are trying to look good and have fitter physique, with gym being a way for people to achieve these goals. Awareness through social media apps and online advertisements are one of the factor due to which fitness equipment market trend is witnessing demand and is expected to grow in the coming years.
Government and enterprises are promoting benefits of good health and fitness by conducting various healthcare programs. The Dubai Government and Dubai Sports Council launched the Dubai Fitness Challenge in October 2017 to motivate residents to take up physical activity. Similarly, the Government of Australia has organized national fitness campaign “Fit for purpose” for awareness among people in 2011. Such initiatives and activities are boosting the demand for fitness equipment market share further.
Cardiovascular training equipment segment dominated the overall fitness equipment market by occupying accounted for 65.5% in 2017. This equipment helps in burning calories and maintaining the health of the heart. Moreover, this equipment helps in improving the cardiovascular strength of the entire body. Owing to its health benefits, growing popularity and advancement in technology this segment is expected to maintain its dominance over the forecast period.
High cost of maintenance and long downtimes are other major concerns of buyers. On an average, equipment is used for approximately16 hours per day in gyms and health clubs. This results in wear & tear and downtime of the equipment. Any fitness equipment is an asset to the gym as long as it is usable. During downtime, the equipment is a cost to the buyer. Additionally, the spares and repair of fitness equipment are expensive. This adds to the costs for the gym owners.
The major players analysed in global fitness equipment market are Brunswick Corporation, Exigo, Core Health and Fitness LLC, Precor, TRUE Fitness Technology, Inc and Johnson Health Tech Co. Ltd.
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North America was the largest market for fitness equipment and is expected to witness the steady growth over the next few years. Asia Pacific is expected to be the fastest growing market account of rising consumer demand for increasing consumer disposable income, rising health awareness, and changing lifestyles of consumers. The fitness equipment market in Europe is projected to witness a significant growth due to the rising number of residential and commercial complexes is also driving the fitness market with realtors offering fitness clubs as an amenity to attract consumers and employees, respectively. Initiatives by several local regulatory bodies to promote health of their population is also driving the establishment of fitness clubs, thereby augmenting market growth
The competitive landscape of the global fitness equipment market is growing and these are some top players of the industry such as Exigo, Brunswick Corporation, Precor, Core Health and Fitness LLC, Johnson Health Tech Co. Ltd., TRUE Fitness Technology, Inc
Key segments of the global fitness equipment market
Product Overview, 2014 – 2025 (Revenue USD Million)
- Strength Training Equipment
- Cardiovascular Training Equipment
- Elliptical cross tanner
- Rowing machines
- Stationary bikes
- Other Training Equipment
End-user Overview, 2014 – 2025 (Revenue USD Million)
- Health Clubs/Gyms
- Home Consumers
- Others end user
- Hospitals & Medical Centers
- Public Institutions
Region Overview, 2014 – 2025 (Revenue USD Million)
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Rest of the World
- Middle East
- South Africa
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