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
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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
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