Fitness equipment market size is expected to value at USD 13.24 billion by 2022. The market is subject to witness a substantial growth due to the ever-growing urban population, increasing disposable income, particularly in the developing economies across the globe, and rising health consciousness among the general population. The fitness equipment is utilized to perform different types of exercises in regards to the physical wellbeing of the individual along with weight management, enhancing body stamina, and muscular strength of the individuals. Globally, the market is predicted to grow at CAGR of 3.6% in forecast period, providing numerous opportunities for market players to invest in research and development of the fitness equipment market.
The
fitness equipment that are increasingly used include treadmills, standing
bicycles, abs & fitness twister, roller slide, cross trainer, and
weightlifting machines. Factors responsible for robust market growth in the
fitness equipment industry, in the recent years, include large number of obese
population, rising health consciousness among general population, and
increasing popularity of fitness equipment among younger population. Numerous
initiatives undertaken by private and government authorities to promote
corporate wellness programs are predicted to drive the growth of fitness
equipment market in the upcoming years. However, high initial cost and increase
in the resale activities of used devices are predicted to restrain market
growth to a certain limit. Yet, soaring demand from developing economies across
the globe are predicted to boost the demand for the fitness equipment over the
forecast period.
Request Sample Copy of This Market Research @
https://www.millioninsights.com/industry-reports/fitness-equipment-market/request-sample
Additionally,
recent improvements and upgradation in the existing health security policies by
local as well international authorities such as The United Nations (UN) and the
World Health Organization (WHO) are expected to foster market in the near
future. Increasing adoption of fitness equipment helps to prevent and monitor
chronic diseases such as diabetes. Furthermore, increasing popularity of the
fitness equipment in the developed economies is attributed to factors such as
rising healthcare expenditure, and development of sports and nutrition programs
and initiatives in order to encourage people belong to all ages, and
backgrounds, thereby leading to active and healthy lifestyle.
This
market is broadly categorized into three major types based on type of the
device such as cardiovascular training, strength training, and body monitoring
and analyzers. The strength training fitness equipment is considered as one of
the fastest growing segment in the fitness equipment market with substantial
revenue generation in the last couple of years. Growing popularity of the
strength training fitness equipment segment kits is attributed to the growing
demand form developing economies worldwide, rising young population and growing
personal disposable incomes.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/fitness-equipment-market
Cardiovascular
exercise market segment has also witnessed substantial growth owing to the
increasing adoption on global scale coupled with rising commendation by
physicians and healthcare professionals. Other factors playing major role in
the rapid growth of the fitness equipment market, in the recent years include
busy lifestyles and changing food patterns.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies for manufacturing of
the fitness equipment, growing large obese and overweight population, rising
amount of government regulations in order to encourage and promote health
awareness among the citizens, and existence of well-established market players
in the region.
Asia-Pacific
region is predicted to hold major market share in the fitness equipment market
with massive growth in forecast period. Countries such as India, China, Japan
and South Korea are leading the Asia-Pacific market with rising health
consciousness among general population, increasing personal disposable income,
and significant investment by leading industry players considering potential
growth opportunities in the region.
The
key players in the fitness equipment market are Amer Sports (Precor) Co.,
Brunswick Co., Cybex International Incorporations, Johnson Health Tech Co.,
Ltd., Nautilus Inc., Paramount Pvt., Ltd., Technogym Ltd., and Torque Fitness
LLC.
Comments
Post a Comment