The global Fitness Equipment Market is
anticipated to reach USD 13.24 billion by 2022. Key factors that are
expected to fuel growth include urbanization leading to changing
lifestyles, growing awareness of health & wellness and drastic
increase of obese population.
Emerging
economies have been observing growing trend for healthcare programs
across all segments. In addition, governments in these countries are
persistently attempting to conceptualize and establish effective
healthcare plans. The introduction of new fitness regimes and healthcare
programs across various corporates to encourage employees is expected
to trigger growth. Fitness equipment market is projected to grow at a
CAGR of 3.6% from 2015 to 2022.
On
the basis of equipment type, the industry is segmented into strength
training, cardiovascular and devices such as trackers & monitors.
Commonly used equipment across all age groups to maintain fitness and
manage weight include stationary bicycles, treadmills, weightlifting
machines and stair climbers.
Demand
for cardiovascular training devices is comparatively greater than
strength training devices on account of dual benefit of well-being and
disease prevention. Cardiovascular training devices are estimated to
strengthen their hold on the industry in the next seven years and grow
at a CAGR exceeding 3.0% from 2015 to 2022 owing to its increased
adoption. Cardiovascular training devices such as treadmills, stair
machines, and rowing machines stair machines. They are extensively used
to keep Body Mass Index (BMI) within limits and maintain body fitness.
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Health
clubs and gyms accounted for nearly 45.0% of total market share and
dominated the market in 2014 as they form an essential prerequisite for
health clubs. However, home users buy different equipment for their use.
Purchase of these devices by commercial firms such as hospitals,
hotels, and corporate offices to enhance customer experience is also
expected to drive growth in the market.
Asia
Pacific is a lucrative market with a high requirement for advanced and
sophisticated fitness equipment. It is projected to grow at a CAGR of
over 7.0% from 2015 to 2022. Outsizing youth population coupled with
increasing disposable incomes in emerging economies is anticipated to
propel growth.
North
America is expected to be a major market for this industry owing to
rising overweight population. North America acquired nearly 45.0% of the
total industry share in 2014 and is expected to continue the trend over
the forecast period at a CAGR of over 2.0%.
Firms
in this business are very competitive and strategize by introducing
updated version of existing products or launching newer and improved
equipment. Key strategies being adopted by the companies include product
innovations and exclusivity owing to technological enhancements. Market
players engage in forming alliances to gain market share and dominate
the industry. It includes Cybex International Inc., Brunswick, Johnson
Health Tech., Paramount, Precor and Nautilus Inc.
Grand View Research has segmented the global fitness equipment market on the basis of device, end-use, and region:
Fitness Equipment Device Outlook (Revenue, USD Million, 2012 - 2022)
- Cardiovascular training
- Strength training
- Others
Fitness Equipment End-Use Outlook (Revenue, USD Million, 2012 - 2022)
- Home
- Health clubs
- Others
Fitness Equipment Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- ROW
Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-fitness-equipment-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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