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.
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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
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.
For more information: www.grandviewresearch.com
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