This market research report provides a comprehensive segmentation of the global fitness equipment market by product type (cardiovascular training equipment, strength training equipment, and other equipment) and by end-users (individual users, health clubs and gyms, and other commercial users). It outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The key vendors analyzed in this report are Cybex, ICON Health & Fitness, Paramount, and Precor.
Technavio’s market research analysts estimate the global fitness equipment market to grow at a CAGR of around 4% between 2016 and 2020. People have become health-conscious owing to rising health conditions like diabetes, cholesterol and obesity have increased, leading to heart-related ailments. This has resulted in continuous workouts and gym activities, leading to surge in demand for fitness equipment. North Americas is the largest revenue-contributing region in the global fitness equipment market, occupying around 36% of the overall market share. Factors such as innovation, aging population, and rising health issues are the key growth drivers for this region.
The new market research report from Technavio provides a breakdown and analysis of the fitness equipment segments by technology.
“People are joining gyms to maintain a fit and healthy physique, which has resulted in the rise of various fitness centres and health clubs. To sustain the high competition in the market, these clubs are offering exclusive and discounted packages to lure customers. They are also providing free workouts for their premium customers. Also, they are using advanced equipment for higher safety level to the user,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
The cardiovascular training equipment segment is predicted to dominate the market during the forecast period and reach a market value of around US $ 6 billion. The growing obese population segment is a key driver for the growth of this segment. For instance, during 2014, around 2 billion adults above the age of 18 years were overweight with 600 million people in this group being classified as obese.
The key vendors in the global fitness equipment market include Cybex, ICON Health & Fitness, Paramount, and Precor. This market is highly fragmented due to the presence of numerous small and large vendors. Intense competition coupled with rapid changes in technology and consumer preferences constitute significant risk factors for the vendors in this market.
A more detailed analysis is available in the Technavio report, Global Fitness Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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