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Fitness Equipment Market By Type (Cardiovascular Training Equipment, Strength Training Equipment, Other Equipments); By End User (Home Consumer, Health Clubs/Gyms, Other Commercial Users); By Distribution Channel (Sports Goods Stores, Specialty Sports Shops, Online Retailing and Others) - Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Published On : 04:09 AM, 17th January, 2018 REP-ID-575 Category: Miscellaneous

Fitness Equipment Market Overview

Fitness equipment is referred to the equipments which are used by a person in order to reduce fat, tone muscle, increase stamina and others. Fitness equipment is used for physical exercises to manage overall weight of the body. Cardiovascular training equipments arouse the heart rate and help to burn excess body fat. Strength training equipment such as free weights, plate loaded equipments and others help to gain muscular weight and these equipments help in gaining muscle strength.

Market Size and Forecast

The global fitness equipment market is anticipated to garb a robust CAGR of 5.1% over the forecast period i.e. 2017-2024. Moreover, the global fitness equipment market is projected to account exponential sales of USD 3.1 Billion by the end of 2024.  Further, the market of fitness equipment is driven by the changing lifestyle of the population coupled with increasing inclination towards health and wellness.

The fitness equipment market is segmented into type, end user, distribution channel and region.  Further, the type segment is sub-segmented into cardiovascular training equipment, strength training equipment, and other equipments, out of which cardiovascular training equipment segment is projected to attain lion share in the overall market of fitness equipment in terms of revenue in 2016. In addition to this, the growth of cardiovascular training equipment segment is attributed to the rising introduction of innovative designed fat reducing and toning equipment such as stair climbers, elliptical and others. Apart from this, strength training equipment is expected to seize an outstanding CAGR by the end of 2024. Furthermore, health clubs/gyms segment by end user captured the largest share in the market of global fitness equipment and is envisioned to grow significantly during the forecast period. Further, rising number of gymnasium in developing economies is projected to foster the growth of global health clubs/gyms market.

Fitness Equipment Market

North America and Europe region are the notable markets for fitness equipment market in 2016. Europe fitness equipment market is gaining robust momentum and accumulating considerable revenue. Moreover, presence of key vendor of fitness equipments such as Technogym S.p.A. in this region is projected to foster the growth of fitness equipments market in Europe. Moreover, Western Europe countries such as U.K. Germany, France and others are the major countries witnessing the augmenting demand for fitness equipment. Furthermore, presence of numerous gyms and health clubs in this region is predicted to upsurge the growth of fitness equipments market.  

North America is slated to grow rapidly over the forecast period owing to presence of health conscious population. Further, U.S. is the major contributor in the market of fitness equipment market in this region. Further, rising number of he obese population in this region is expected to boost the demand for cardiovascular training equipment. This factor is believed to foster the growth of fitness equipment market.

Furthermore, Asia-Pacific fitness equipment market is projected to witness highest growth over the forecast period owing to rising number of population along with rapid urbanization in countries such as China, India and others. Moreover, inclination of young generation towards strength training is believed to flourish the growth of   fitness equipment market in this region. Additionally, China and India are the dominating country in this region.

Market Segmentation

Our in-depth analysis segmented the fitness equipment market in the following segments:

By Type

  • Cardiovascular Training Equipment
    • Treadmills
    •  Elliptical
    •  Stationary bike
    •  Stair Climbers
    •  Others
  • Strength Training Equipment
    • Benches and Racks
    •  Multi-Gyms and Cable Stations
    •  Free Weights
    •  Plate Loaded
    •  Others
  • Other Equipments

By End User

  • Home Consumer
  • Health Clubs/Gyms
  • Other Commercial Users
    • Hotels
    • Corporate Offices
    • Hospitals & Medical Centers
    • Public Institutions (Schools, Universities, and Others)

By Distribution Channel

  • Sports Goods Stores
  • Specialty Sports Shops
  • Online Retailing
  • Others

By Region

Global fitness equipment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Turkey, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Malaysia, South Korea and Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (GCC, North Africa, South Africa, Israel, Turkey and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Fitness Equipment market share

Growth Drivers and Challenges

Introduction of advanced fitness equipment such as stair climbers, stationary bike, multi-gyms and cable stations and others by major key players in order to cater large fitness freak population is projected to foster the growth of fitness equipment market over the forecast period. Moreover, advancement on free weights such as welding the handle to the masses to prevent them from detachment and advanced grip are believed to be the dynamic factor behind the rapid growth of fitness equipment market. Furthermore, rapid urbanization along with expansion of fitness industry in developing and developed regions is the major factors propelling the market of fitness equipment. In addition to this, population in urban region is more inclined towards fitness and wellness coupled with changing lifestyle of the consumers has pushed them to adopt gymnasium.

According to WHO, in 2016, more than 1.9 billion adults were overweight and 650 million were obese. Further, rising number of deaths due to overweight is increasing concerns among the population to adopt cardiovascular training equipment. Moreover, According to the Health Survey for England conducted in 2014, 61.7% of the adults were obese. Among the overall population in Europe, 65.3% were men and 58.1 % constituted women. This factor is envisioned to foster the growth of fitness equipment market over the forecast period. Apart from this, swelled disposable income has led the consumers to spend more on fitness equipment products.

However, high cost associated with fitness equipment is anticipated to dampen the growth of fitness equipment market globally.

Key players

The major key players for fitness equipment are as follows

  • Technogym S.p.A
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Icon Health & Fitness, Inc.
  • Brunswick Corporation
  • Johnson Health Tech Co. Ltd.
  • Nautilus, Inc.
  • Core Health and Fitness LLC
  • True Fitness Technology, Inc.
  • Impulse (Qingdao) Health Tech Co. Ltd.
  • Torque Fitness LLC
  • Amer Sports Corporation

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global fitness equipment market is segmented as follows:

  • By Type Market Size & Y-O-Y Growth Analysis
  • By End User Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

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