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FITNESS EQUIPMENT MARKET ANALYSIS

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FITNESS EQUIPMENT MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     Fitness Equipment Market 2017–2027  Fitness equipment includes treadmills, weightlifting machines, and stationary         bikes. They are used in home, gym, fitness the club, hotels, and corporate               offices. This equipment helps in weight management, boost stamina, and           remove excessive fat. Fitness equipment can be classified into cardiovascular         training and weight training and are widely available in online and offline stores.             The health club is the largest consumers of fitness equipment but these             equipment are also gaining huge demand from the homecare sector due to the           rising number of people adopting a healthy lifestyle and aspire to have a good             personality.                                                                                                      The global ​fitness equipment market is projected to reach around US$ 24.1           billion by the end of 2027, in terms of revenue, growing at CAGR of 3.5% during                   the forecast period (2019-2027).                             

  2. Drivers  A growing number of obese populations around the globe due to an unhealthy           lifestyle and lack of physical exercise is expected to propel the market growth               of fitness equipment. According to the World Health Organization, in 2016,           more than 1.9 billion adults, 18 years and older, were overweight. Of these over               650 million were obese. Also, a growing number of a fitness service provider             such as a gym and health club that offer various packages and discounts is                 again estimated to foster the market growth of fitness equipment.                                                                                  Rising prevalence of various age-related disease especially cardiovascular is         estimated to augment the market growth over the forecast period. For example,           according to the European Health report 2015 by WHO premature deaths (age           group 30–69) resulting from cardiovascular         significantly due to better preventive measures such as people leading healthier           lifestyles, and improved life-saving measures for those individuals who have         suffered a heart attack or stroke.                                                  diseases       has decreased                 On basis of the region, Europe region dominated the global fitness equipment               market, in 2018, accounting for 38% share in terms of revenue, followed by             North America and Asia Pacific respectively.                                         

  3.   Figure 1. Global Fitness Equipment Market, Revenue Share (%), By Region,  2018    Market Restraints  Rising awareness regarding the exercises that require less use of equipment is         estimated to restrict market growth over the forecast period. Exercises such as           Pilates, yoga, dancing, and aerobics require minimal use of fitness equipment,           therefore, fitness clubs are using less equipment and are providing more and             more open spaces for exercise. This factor is anticipated to restrict the market             growth of the fitness equipment market over the forecast period.                                                                      Some of the other major factors such as discomfort associated with the             machines and even it can leads to injuries if proper training is not given to the               person is expected to hinder the market growth of fitness equipment. Workout             in the gym may even damage the heart as exercise with long-cardio can               increase the risk of heart damage. The aforementioned factors are anticipated               to restrict the market growth of fitness equipment.                                                                Market Opportunities  Increasing installation of a fitness facility in the corporate world is anticipated                        

  4. to offer potential growth opportunities to the market of fitness equipment. In           the Asia-pacific region, most MNCs are offering employees to use fitness clubs             on the premises and motivate them for regular exercise. Furthermore, such             companies also provide free fitness training to employees. Therefore, the rising           inclusion of a fitness club in the corporate world is projected to foster the               market growth of fitness equipment.                                                                The rising focus of key players to introduce multiple brands to attract               customers and to enhance the market presence is propelling the market growth             of fitness equipment. According to the Coherent Market Insights, Nautilus, Inc.             is offering five different brands namely Bowflex, Nautilus, Schwinn, Universal,           and Octane Fitness. All these brands are characterized on the basis of their             target market. Therefore, rising such initiatives by key players is augmenting           market growth over the forecast timeframe.                                                                       Figure 2. Global Fitness Equipment Market – Opportunity Analysis    Market Trends  The growing trend of exercising at home due to a busy and hectic lifestyle is             expected to augment the market growth of fitness equipment. Ø According to           Europe Active, which is a non-profit organization formerly known as the             European Health and Fitness Association (EHFA), states that over 30% of people         in Europe exercise at home to save time. Hence, this ongoing trend of             exercising at home will favor the market growth of fitness equipment over the             forecast timeframe.                                                                                       

  5. The rising number of partnerships among major players to expand their product           portfolio and increase their presence in the market is expected to augment the             market growth of fitness equipment. For instance, in November 2016, Towers           Health & Racquets Club has announced that it has signed a long term           partnership with Technogym to supply the equipment for its new 500 sq. m         gyms and Group Cycle studio. Therefore, increasing the adoption of such a           smart strategy among key players is augmenting the market growth of fitness             equipment over the forecast period.                                                                                                      Figure 3. Global Fitness Equipment Market, Revenue Share (%), By  Equipment Type, in 2018    On the basis of end-user, in 2018, home/individuals segment has accounted the               largest market share of 49.6% in terms of value, followed by health clubs and             other commercial organization respectively.                                   

  6.       Figure 4. Global Fitness Equipment Market – Value Chain Analysis    Competitive Section  Key players operating in global fitness equipment market includes Brunswick           Corp., Technogym SpA, Nautilus, Inc., Amer Sports Oyj, Johnson Health Tech           Co. Ltd., ICON Health & Fitness, Inc., TRUE Fitness Technology, Inc., SportsArt               Fitness, Inc., Iron Grip Barbell Company, and Adidas AG.                                   

  7.     1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference https://www.coherentmarketinsights.com/market-insight/fitness-equipment-market-3501 About Us: ​ Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. What we provide: •​Customized Market Research Services •​Industry Analysis Services •​Business Consulting Services •​Market Intelligence Services •​Long term Engagement Model •​Country Specific Analysis

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