Fitness Equipment Market to Grow at 3.3% CAGR by 2030
Numerous schemes introduced by organisations like WHO to promote fitness and healthy lifestyle, in concurrence with the shift in fitness ideal brought about by the pandemic is expected to cause a surge in the demand for fitness equipment
The Fitness Equipment Market is expected to grow at a CAGR of 3.3% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Fitness Equipment are machines, devices or gadgets used during physical exercise to enhance the effect of the exercise. Apart from its household uses, acquisition of fitness equipment has increased in Gyms/Health Clubs and commercial spaces like corporate offices. The market for fitness equipment is largest in the North America region but numbers indicate that it will soon be taken over by the Asia Pacific region with the fastest CAGR during the forecast period.
According to the report, the rise in urban population and the increasing number of gyms and gym memberships are factors that are expected to boost the growth of fitness market. Also, the Covid-19 pandemic in conjunction with organizational efforts to promote fitness are expected to contribute to the growth of the fitness equipment market for the next 10 years. However, the increasing sale of used equipment in the market is expected obstruct the market growth.
Based on product type, the fitness equipment market share is segmented into cardio equipment and strength building equipment. Cardio equipment has been sub segmented into treadmill, stationary bicycle, rowing machine and other equipment
Based on end user the fitness equipment market is categorised into household consumer, Gyms/ Health Clubs and other commercial users like hotels, medical centres etc.
Based on geography, the fitness equipment market is categorized into North America, Asia Pacific, Europe and rest of the world.
At present, The United States holds the highest market size & share in the fitness equipment market but with the growing urban population and disposable income, the Asia Pacific region will soon promise more potential than the North American region
According to the report, some the key players in the fitness equipment market are ICON Health and Fitness, Life Fitness, Cybex International inc., Torque Fitness LLC, True Fitness Technology Inc., Nautilus, Johnson Health Tech, Matrix Fitness, Impulse Health Tech Co., BeaverFit LLC, Amer Sports Corporation etc
Browse key industry insights from the report, “Fitness Equipment Market by Type (Cardio Training Equipment, Strength Training Equipment and Other Equipment) and End User (Home Consumer, Health Club/Gym and Other Commercial User): Global Opportunity Analysis and Industry Forecast, 2020–2030” in detail along with the table of contents:
Key Insights from the Fitness Equipment Market Report:
- Current emerging trends and opportunities are extensively analyzed in the Fitness Equipment Market report.
- The forecast of the Fitness Equipment Market comes along with additional information associated with opportunities, restrains and key drivers in the market.
- Some of the major players in the market are Cybex International. Inc., ICON Health and Fitness, True Fitness, Torque Fitness LLC, True fitness Technology Inc., Life Fitness, BeaverFit LLC, Nautilus, Johnson Health Tech, Impulse health Tech Co., Amer Sports Corporation, Matrix Fitness etc.
The report Fitness Equipment Market – segmented by product type, end user and geography.
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About Next Move Strategy Consulting
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