Global Fitness Equipment Market is Set for a Rapid Growth and is Expected to Reach around $12.50 bn by 2021
Major operating companies in the fitness equipment market are Johnson Health Tech Co. Ltd., Brunswick Corporation, Icon Health & Fitness, Nautilus Strength, Technogym, Amer Sports, Cybex International Inc., and Precor incorporated. These players have a lion’s share in the development of fitness equipment market.
As per analysts at Zion Market Research, the global fitness equipment market added up for almost USD 10.00 Billion in 2015 and is likely to reach almost USD 12.50 Billion by 2021, developing at a CAGR of almost 4.0% from 2016 to 2021.
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Rising Health Consciousness Among Adult People And Children To Be Major Boosting Factor For The Development Of Fitness Equipment Market
Increasing aged population is pacing the development of fitness equipment market, as per the analysts at Zion Market Research. Presently, over 900 Million people are aged more than 60 and it is planned to increase to almost 1.40 Billion by end of 2030. Amongst this population, almost 65% of the older population presently lives in a developing nation. In addition to this, increasing obese population is also incessantly accountable for the development of fitness equipment market. In 2014, over 1.90 Billion individuals were obese and out of these almost 600 Million were overweight. Moreover, rising health consciousness among adult people and children is a major boosting factor for the development of fitness equipment market. On the other hand, the high price of equipment might hinder the development of the fitness equipment market.
Nevertheless, increasing health awareness programs, an untapped market, and more product launches in different sectors might create new avenues for the fitness equipment market in the years to come. For instance, April 2018, Alpha Warrior Battle Rig was revealed in the U.S. at the Maxwell Wellness and Fitness Center for the staff of US Air force in Maxwell Air force base.
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Increased Number Of Health Clubs And Gym Centers In Asia Pacific To Maintain The Dominance In The Region In The Years To Come
Based on the area, the fitness equipment market has been divided into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa. There were almost 183,000 health clubs all over the world in 2014. The majority of the health clubs or gym centers are situated in Latin America with approximately 56000 health clubs and gym centers. Hence, Latin America ruled the fitness equipment market owing to the high requirement for fitness equipment. The growth of the fitness equipment market was also credited to an increased number of health clubs and gym centers. In the Asia Pacific there are almost 17 Million members registered at over 31000 health clubs. The Asia Pacific is likely to exhibit noticeable development in fitness equipment market in the years to come due to risings awareness towards health care.
The global fitness equipment market is segmented as follows:
- Cardio-respiratory Equipment
- Muscular Equipment
- Flexibility Equipment
- Body fatness Equipment
This review is based on a report by Zion Market Research, titled “Fitness Equipment Market”- Report at http://www.zionmarketresearch.com/report/fitness-equipment-market
By End User
- Gym centers/ Health club