Fitness Equipment Market By Type (Cardiovascular Training Equipment, Strength Training Equipment, Others) By Application (Health Clubs, Home Consumers, Others) and By Region - Global Forecast To 2026
25 January 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global fitness equipment market is projected to reach a value of over US$ 15,500 Mn in 2026 at a CAGR of 4.1% over the forecast period. The report offers in-depth insights, revenue details, and other vital information regarding the global fitness equipment market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global fitness equipment market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global fitness equipment market is segmented on the basis of type, end user, and region.
Fitness equipment includes machines which are used during physical activity which helps to maintain overall body weight, improve physical stamina, and to develop muscular strength. Fitness equipment includes treadmills, free weights, weight machines, elliptical trainers, and many more. Fitness equipment helps individuals to attain fitness, is a state-of-being individually defined. Moreover, manufacturers are engaged in developing innovative products and health clubs are involved in routinely upgrade to the latest technology which is available in the market. Innovation in fitness equipment include that is easier to use and gentler on body, can measure heart rate on monitors built into cardiovascular machines, track workouts of individuals, and keeps track of how many calories burnt.
Global Fitness Equipment Market Dynamics:
Increasing incidence of obesity, and chronic heart diseases across the globe coupled with rising awareness regarding health & fitness is expected to drive growth of the global fitness equipment market. In addition, increasing number of fitness centers that offers various packages & discounts for weight loss, and health fitness programs is another factor expected to propel growth of the global fitness equipment market to a significant extent.
Report Coverage and Deliverables
However, high cost of equipment is a key factor expected to restrain growth of the global fitness equipment market. Additionally, shifting preferences towards traditional techniques to exercise such as aerobics, yoga, and swimming which do not require heavy equipment is another factor expected to hamper growth of the global fitness equipment market over the forecast period. Furthermore, availability of second-hand fitness equipment is another factor hampering market growth as it provides fitness equipment to start-up gyms & fitness centers and in-house users at relatively much lower prices.
Increasing consciousness regarding health and appearance among the individuals to live healthy and disease free life is expected to create high potential revenue opportunities for existing players as well as new entrants in target market.
Market Analysis by Type:
On the basis of type segmentation, cardiovascular training equipment segment is expected to contribute major revenue share and witness highest CAGR of over 3%, in terms of revenue over the forecast period, owing to its increasing penetration in developed markets such as the US and Europe.
Increasing obese population is supporting growth of target market to a significant extent. According to a study conducted by the Center for Disease Control and Prevention, in 2012, stated that 34.9% of US adults are obese. According to a survey analysis conducted in 2015, Arkansas, West Virginia, and Mississippi reported obesity rates exceeding 35%, which has led to relatively higher adoption of cardiovascular equipment.
The strength training equipment segment in the global fitness equipment market is estimated to account for major revenue share over the forecast period.
Among type segment, the others segment in the global fitness equipment market include body analyzers, and activity monitors.
Analysis by End User:
Among end user segments, health clubs/gyms segment is expected to register highest CAGR of over 4.0%, owing to increasing number of health clubs/gyms globally and their attractive membership price and services offerings.
Among end user segments, other segment includes hotels, corporate offices, hospitals & medical centers, and public institutions – schools and colleges
Analysis by Region:
North America market is expected to dominate the global fitness equipment market, and accounts for largest market revenue share of over US$ 3,000 million in 2017 as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period owing to rising demand for fitness and service equipment, rising disposable income, and inclination towards healthy living among individuals in countries such as the US and Canada. Other factors include presence of leading fitness equipment manufacturers in these countries, and increasing consumer base adopting fitness equipment in countries in this region.
Furthermore, growing number of health and fitness clubs, coupled with increasing number of individuals getting fitness club membership in countries in North America is fueling growth to the North America fitness equipment market to a significant extent, and this trend is expected to continue in near future. Technological advancements in fitness equipment, coupled with prominent manufacturers developing new fitness equipment are other major factors expected to boost growth of the North America fitness equipment market over the forecast period. In 2017 for instance, Body-Solid, Inc. launched Powerline Power Rack (PPR200) with additional features such as 18 adjustment levels, 41" wide knurled chinning bar, freeweight plates, bars, and collars optional.
Revenue contribution of the US market in the North America fitness equipment market is 7.2 times that that of the revenue contribution by the Canada market.
In 2016, Europe accounted for the second largest revenue share contribution to the global fitness equipment market followed by markets in Asia Pacific, Latin America, and Middle east & Africa respectively. Increasing number of prominent multinational fitness clubs, and growing awareness about health and fitness among individuals are key factors fueling growth of the Europe fitness equipment market currently. Moreover, increasing demand for cost-effective and innovative fitness equipment, and high obesity levels among individuals in countries in the region are other factors expected to contribute growth of the Europe fitness equipment market over the forecast period. Increasing government initiative towards promotion of physical fitness is another factor expected to result in growth of the market in Europe registering a rapidly expanding CAGR over the forecast period.
Development of energy-efficient compressor technology by prominent OEMs is another major factor expected to result in the market in Europe registering a rapidly expanding CAGR over the forecast period.
Prominent fitness club operators in the market are involved in merger and acquisition activities to expand their network and market presence in countries in the region. This is another factor expected to fuel growth of the Europe fitness equipment market over the forecast period.
The market in Asia Pacific is expected to witness considerable growth and is expected to register highest CAGR of 4.0% over the forecast period, owing to rising demand for rugged, multi-functional fitness equipment, and increase in disposable income in emerging economies such as India, China, and Japan.
Revenue contribution from the Japan market in 2016, was 1.3 times greater than that of revenue contributed from the India market in the Asia Pacific fitness equipment market.
Global Fitness Equipment Market Segmentation:
Global fitness equipment market segmentation, by type:
- Cardiovascular Training Equipment
- Strength Training Equipment
Global fitness equipment market segmentation, by end user:
- Health Clubs
- Home Consumers
Global fitness equipment market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- The Brunswick Corporation
- Johnson Health Tech Co. Ltd.
- Technogym S.p.A.
- Amer Sports Corporation
- Nautilus, Inc.
- Cybex International Inc.
- Elliptigo Inc.
- NordikTrack Inc.
- Body-Solid Inc.
- Torque Fitness LLC
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.1.2 Opportunity Map Analysis
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By End User
- 2.2.3 Market Snapshot, By Region
- 3.1 Global Fitness Equipment Market Dynamics
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