Fitness Equipment Market is poised to expand at a CAGR of around 3.5% During 2028

According to a new report published by Allied Market Research, titled, “Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021-2028,” the Fitness Equipment market was valued at $11.6 billion in 2020, and is projected reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028

Fitness equipment are widely used for physical fitness, weight management, and improving body stamina & muscular strength. The commonly used fitness equipment are treadmills, stationary bicycles, stair climbers, and weightlifting machines. Rise in awareness regarding health & fitness, increase in obese population, government initiatives to promote healthy lifestyle, and increase in youth population are the major factors that drive the growth of the global fitness equipment market size. However, counterfeiting of fitness equipment is a key restraining factor of the market. On the contrary, upsurge in youth population, improved lifestyle, and rise in disposable income of individual in developing countries are anticipated to offer immense opportunities for the market players.

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An alarming rise in global obesity, especially in urban areas, supplements the growth of the fitness equipment industry. According to the WHO, there has been a startling increase in the number of obese people worldwide. In 2020, world’s 39% of adults aged 18 years and above were overweight and 13% were obese. Obesity is associated to a number of health issues or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress, and improve blood circulation, obese people tend to use more of fitness equipment. Fitness equipment market trends such as self-care for health and virtual fitness training sessions are the major growth pillars to support the sales for these products.

Some of the key players in the fitness equipment market analysis includes :-

ANTA SPORTS PRODUCTS LIMITED

CORE HEALTH & FITNESS, LLC

ICON HEALTH & FITNESS, INC.

IMPULSE HEALTH TECHNOLOGY CO., LTD.

JOHNSON HEALTH TECH. CO., LTD.

NAUTILUS, INC.

PELOTON INTERACTIVE INC.

TECHNOGYM S.P.A.

TORQUE FITNESS, LLC

TRUE FITNESS TECHNOLOGY, INC.

The fitness equipment market is segmented into type, end user, and region.

Depending on type, the fitness equipment market analysis is categorized into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment segment is bifurcated into treadmill, elliptical, stationary bike, rowing machine, and others.

By end user, the market segregated into home consumer, health club/gym, and other commercial user.

Key Findings Of The Study

By region, North America dominates in terms of fitness equipment market share and is expected to retain its dominance during the forecast period.

By type, the cardiovascular training equipment segment led in terms of market share, and is expected to gain market share in the upcoming years

By end user, the home consumer segment accounted for more than 60% share of the fitness equipment market growth in 2020, due to imposition of social distancing and gym closures during the COVID-19 pandemic. However, the health club/gym segment is poised to grow at highest CAGR during the fitness equipment market forecast period from 2021 to 2028.

By end user, the health club/gym segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 6.4% during the forecast period.

By region, Asia-Pacific is anticipated to grow with robust CAGR of 5.7% during the forecast period.

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Key offering of the Report:

Key driving factors: An in-depth study of the dynamic factors such as drivers, restraints, challenges, and opportunities

Current market trends & forecasts: A comprehensive study of the the Fitness Equipment Market

along with recent market trends and forecasts during the forecast period to help customers make an informed decision and formulate lucrative business strategies

Segmental Analysis: A study of each segment coupled with driving factors and growth rate analysis of every segment

Geographical analysis: An in-depth analysis of the market across several geographical regions that help market players to leverage fruitful market opportunities

Competitive landscape: A study of prime market players that are currently leading the Fitness Equipment Market

Prime Benefits:

The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, which enables business investors to devise sound, fruitful business decisions.

The study covers a detailed study of the latest market trends and market size coupled with a forecast of the Fitness Equipment Market during the forecast period.

The report offers an analysis of the potential of the market across various geographical regions along with revenue contribution.

The study includes a detailed analysis of the key market players that are active in the market

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Similar Reports :-

Asia-Pacific Fitness Equipment Market https://www.alliedmarketresearch.com/asia-pacific-fitness-equipment-market

Sports Protective Equipment Market https://www.alliedmarketresearch.com/sports-protective-equipment-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

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