Technavio, a tech-focused market research firm, has published a new report on the global gym and health clubs market, which is expected to grow at a CAGR of more than 11% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global gym and health clubs market into the following key regions: the Americas, APAC, Europe and MEA.
Source: Technavio
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Top three contributors for the global gym and health clubs market are elaborated below:
Gym and health clubs market in the Americas: Technological innovations in fitness equipment, rise in elderly population, and increase in health issues are some of the key factors driving growth of the gym and health clubs market in the Americas. Many vendors in the market space are coming up with smart and innovative equipment such as heart rate interactive treadmills. Several health clubs are also focusing on the inclusion of spa services wherein they offer services such as cocoa bath, body lymphatic treatment, sake soak, body polish, and hand therapy.
According to Poonam Saini, a lead analyst at Technavio, specializing in research on retail goods and services, “In the US, there is an increased use of smart connected fitness devices such as wristbands and smart watches by customers in gyms and health clubs. The equipment is not only used by trainees but also by personal trainers to understand their performance and scope of improvement.”
Gym and health clubs market in Europe: The gym and health clubs market in Europe is led primarily by the rise in the demand for cardiovascular fitness equipment by obese people. The rise in health consciousness among consumers is propelling the demand for gyms and health clubs in this region. Health-related initiatives by government authorities to promote the benefits of exercise is also a key incentive for the growth of the market for gym and health clubs in Europe.
Gym and health clubs market in APAC: APAC is projected to be one of the fastest-growing geographical segments of the global gym and health clubs market in APAC. The rising millennial population, increasing disposable income, and the growing awareness of health and fitness are factors that will drive growth of the gym and health clubs market in APAC in the coming years. Hectic lifestyles, unhealthy eating habits, and rise in the obesity in Asian countries like India and China are also anticipated to fuel the demand for gym and health clubs in this region during the forecast period.
The leading vendors operating in the global gym and health clubs market are:
- Bev Francis’s Powerhouse Gym
- Metroflex Gym
- Original Temple Gym
- Titan Fitness
Other prominent vendors in the market include Crunch Fitness, David Lloyd Leisure, Equinox, Fitness International, Fitness Planet, Gold’s Gym, McFIT, Scandinavian Fitness, UFC Gym, X Sport Fitness, and Virgin Active.
A more detailed analysis is available in the Technavio report titled, ‘Global Gym and Health Clubs Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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