Fitness Equipment Market - Global Industry Analysis

Fitness Equipment Market

Fitness Equipment Market- By Equipment Type (Cardio-Respiratory Equipment, Muscular Equipment, Flexibility Equipment, and Body Fatness Equipment) and By End-User (Hospital, Gym Centers/Health Clubs, and Homecare): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028

Published Date: 14-Mar-2022 Category: Medical Device Report Format : PDF Pages: 177 Report Code: ZMR-578 Status : Published

The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028.

Description

Fitness Equipment Market Size

The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028. The study provides assessment and analysis of the Fitness Equipment Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue

Fitness Equipment Market: Overview

Fitness equipment consists of all machinery and physical activity monitoring equipment that is required for perfect exercises. In addition to this, requirement of fitness device has increased humungously owing to surge in health consciousness. Most predominately used fitness equipment is weight lifting equipment, treadmills, bicycle, weight training instruments, and strength-building equipment.  

Fitness Equipment Market: Growth Drivers

Rise in number of fitness centers and surge in gym memberships owing to health & fitness awareness among adult as well as millennial population will drive market growth. In addition to this, a prominent increase in obese populace and inflation in disposable income will proliferate expansion of fitness equipment industry in ensuing years.  Massive demand for high-quality fitness instruments for home installation will prompt rise in size of fitness equipment market in ensuing years. With COVID- 19 pandemic outbreak, working professionals prefer doing physical exercises at home and as per their convenience. This has led to huge sales of fitness equipment, thereby leading to a massive increment in the earnings of the fitness equipment market.

Furthermore, customers are deriving benefits of online fitness equipment through personalized training with help of digital workout or gym sessions. Supportive government programs and favorable schemes promoting health awareness among citizens have increased fitness units and health club establishments across the globe, thereby promoting market surge. Growing personality development and body-building trends among youths has enhanced gym subscription and also resulted into use of tread mills and spin bikes along with various kinds of cardiovascular equipment.  

Global  Fitness Equipment Market

Fitness Equipment Market: Regional Insights

Latin America To Dominate Growth Of Fitness Equipment Market Over 2022-2028

Expansion of fitness equipment industry in Latin America over assessment period is due to rise in number of health & fitness clubs in countries such as Brazil, Ecuador, and Argentina. With more persons in region becoming health consciousness, the regional market is predicted to gain traction in years ahead.

Fitness Equipment Market: Competitive Insights

Key players influencing growth of fitness equipment industry and profiled in report are Brunswick Corporation, Nautilus Strength, Precor incorporated, Johnson Health Tech. Co., Ltd., Technogym, Amer Sports Oyji, Icon Health & Fitness, and Cybex International Inc.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

The global Fitness Equipment Market is segmented as follows:

By Equipment Type

  • Cardio-Respiratory Equipment
  • Muscular Equipment
  • Flexibility Equipment
  • Body Fatness Equipment

By End-User

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

Fitness deals with the readiness, fit people are well equipped as compared to non-fit people.  The fitness levels include all aspects of life and health. It affects physical, mental, and social health. Fitness is the ability of body systems to work efficiently. A fit and healthy person are able to carry out the typical activities of living, such as work, and still, have enough energy and vigor to respond to emergency situations and to enjoy leisure time activities. Fitness includes five important components like flexibility, cardio-respiratory fitness, muscular endurance, muscular strength, and body composition. Fitness is vitally important to health and wellness as well as to the ability to engage in normal activities of daily living. Physical activity and exercise training programs should be designed with the intent of improving each of the key components of health-related physical fitness in addition to preventing chronic disease.

Increasing prevalence of chronic diseases, changing unhealthy population, increasing geriatric population, and rising obese population are major factors responsible for the growth of fitness equipment market. In addition, new emerging innovative advances for cardiovascular fitness equipment are propelling the growth of fitness equipment market. Furthermore, increasing health awareness and demand for fitness equipment are expected to drive the growth of fitness equipment market in the forecast period. In spite of this, the high cost of fitness equipment is majorly affecting the growth of fitness equipment market. However, untapped market and increasing health club number may generate new opportunities in forecast period for fitness equipment market.

Based on the equipment type, the market of fitness equipment has been classified into cardio-respiratory equipment, muscular equipment, flexibility equipment, body fitness equipment and others. In 2019, cardio-respiratory equipment segment dominated the market of fitness equipment with major market share. In the forecast period, muscular equipment segment is expected to exhibit noticeable growth due to rising awareness of health consciousness. Improved muscular strength and endurance will help us to build better health.

Based on the end user, fitness equipment market has been segmented as the hospital, gym centers/ health club, homecare and others. Gym centers segment accounted for the highest share in fitness equipment market with high and increasing demand. In the forecast period, homecare segment is expected to generate more opportunities as a result of new challenges like getting out of the home to workout especially during the winter seasons. Thus there are plenty of indoor fitness equipment are available for seniors citizens to stay active.

The fitness equipment market has been segmented on the basis of the region as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Latin America dominated the market with high market share due to increasing expenditure on personal care and majority of gym centers. Asia Pacific is projected to grow at a high market growth rate for fitness equipment market in forecast period as a result of rising healthcare costs, increasing need of skilled gym trainers, focus on improving the quality of healthy life, and technological advancements in fitness equipment.

The key players operating in fitness equipment market are Brunswick Corporation, Johnson Health Tech Co. Ltd., Nautilus Strength, Icon Health & Fitness, Amer Sports, Technogym, Precor incorporated and Cybex International Inc.

FrequentlyAsked Questions

Rise in number of fitness units and increase in gym subscriptions due to health & fitness awareness among adult & millennial population will drive market trends.   

According to Zion market research report, The global Fitness Equipment Market accrued earnings worth approximately 13(USD Billion) in 2021 and is predicted to gain revenue of about 17 (USD Billion) by 2028, is set to record a CAGR of nearly 4% over the period from 2022 to 2028.

Latin America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in number of health & fitness clubs in countries such as Brazil, Ecuador, and Argentina.  

The key market participants include Brunswick Corporation, Nautilus Strength, Precor incorporated, Johnson Health Tech. Co., Ltd., Technogym, Amer Sports Oyji, Icon Health & Fitness, and Cybex International Inc.

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