Global Fitness Equipment Market Expected to Grow at a CAGR of 5.1% during 2017-2024
The global fitness equipment market is segmented into types such as cardiovascular training equipment, strength training equipment and other equipments. Further, cardiovascular training equipment segment is further sub-segmented into treadmills, elliptical, stationary bike, stair climbers and others. Among the above segments, cardiovascular training equipment segment is expected to dominate the overall fitness equipment market and is projected to seize a remarkable CAGR by 2024. Likely, increasing number of obese population all across the globe along with adoption of fitness equipment on the back rising awareness towards health and fitness among the young generation is anticipated to bolster the growth of global fitness equipment market.
Global Fitness Equipment Market is anticipated to showcase a tremendous CAGR of 5.1% during 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. Additionally, the market is riding on the back of increasing health consciousness among the consumers.
The health clubs/gyms segment by end user accounted for the largest market in overall fitness equipment market and is projected to showcase a highest CAGR by the of 2024. Further, this growth of health clubs/gyms segment can be attributed to numerous factors such as increasing number of gymnasium and increasing adoption of gymnasium by women and keen interest of fitness in the young youth. In terms of regional platform, North America and Europe are the prominent markets of fitness equipment. Further, U.S. is the dominating country in this region due to presence of fitness concerned population.
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Swelled Disposable Income
Rise in per capita income of the population has encouraged them to take initiatives towards sports activities which have augmented the demand for fitness equipments. Moreover, sporting culture along with increasing number of gymnasium across the globe is also believed to trigger the market of fitness equipment over the forecast period.
Technological advancements for instance, Cybex introduced stationary bikes which is connected with Google Maps and allows the user to choose between 15 routes for a realistic feel. Moreover, increasing availability of fitness equipment through online stores such as amazon, eBay and others have boosted the growth of fitness equipment market during the forecast period.
The report titled “Fitness Equipment Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global fitness equipment market in terms of market segmentation by type, by end user, by distribution channel and by region.
Although, high cost of fitness equipment such as treadmill and others is anticipated to hamper the growth of fitness equipment market by the end of 2024.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global fitness equipment market which includes company profiling of Icon Health & Fitness, Inc., Brunswick Corporation, Johnson Health Tech Co. Ltd., Technogym S.p.A, Amer Sports Corporation, Nautilus, Inc., Core Health and Fitness LLC, True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co. Ltd. and Torque Fitness LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fitness equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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