DUBLIN, July 13, 2021 / PRNewswire / – The “Fitness Equipment – Global Market Trajectory and Analysis” report has been added to ResearchAndMarkets.com offer.
Global Fitness Equipment Market To Reach $ 19.4 billion by 2027
Amid COVID-19 Crisis, Global Fitness Equipment Market Is Estimated At US $ 13.5 billion in 2020, is expected to reach a revised size of US $ 19.4 billion by 2027, with a CAGR of 5.3% over the analysis period 2020-2027.
Cardiovascular training, one of the segments analyzed in the report, is expected to register a CAGR of 5.7% and reach 11 billion US dollars at the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, the growth of the strength training segment is readjusted to a revised CAGR of 5% for the next 7-year period.
The US market is estimated at $ 4.5 billion, while China is expected to grow at 7.3% CAGR
The fitness equipment market in the United States is estimated at US $ 4.5 billion in the year 2020. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 3.2 billion by 2027, with a CAGR of 7.3% over the analysis period 2020 to 2027. Other notable geographies include Japan and Canada, each forecasts growth of 3.9% and 4.5% respectively over the period 2020-2027. In Europe, Germany is expected to grow at around 4.5% CAGR.
Other Equipment Segment to Record 4.2% CAGR
In the global segment of other types of equipment, United States, Canada, Japan, China and Europe will lead to the estimated 3.9% CAGR for this segment. These regional markets representing a combined market size of US $ 652.7 million in 2020 will reach a projected size of US $ 852 million before the end of the analysis period.
China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 2.5 billion by 2027, while Latin America will increase at a CAGR of 5.4% throughout the analysis period.
Main topics covered:
1. MARKET OVERVIEW
- Overview of the influencer market
- Global market trajectories
- Impact of Covid-19 and an impending global recession
- Impact on the fitness industry
- Demand for home fitness equipment skyrockets amid COVID-19 pandemic
- People’s Fitness Routine Changes Following COVID-19
- Commercial fitness equipment takes a hit as gyms struggle
- Fitness equipment: a prelude
- Types of equipment
- Growth engines at a glance
- Key factors hampering growth
- Analysis by segment
- Developing countries: focal point for current and future market growth
- Recent market activity
- Brands of the world
2. FOCUS ON CERTAIN PLAYERS (Total 97 featured)
- Amer Sports Corporation
- Precor Incorporated
- BFT Fitness Co., Ltd.
- Body-Solid, Inc.
- Cybex International, Inc.
- Life Fitness, Inc.
- Dyaco International Inc.
- Heart Rate Inc.
- ICON Health & Fitness, Inc.
- Johnson Health Tech Co., Ltd.
- Nautilus, Inc.
- Reebok International Ltd.
- SportsArt Fitness, Inc.
- Star Trac Health & Fitness, Inc.
- Technogym SpA
- Total Gym Global Corp.
- TRUE Fitness Technology, Inc.
- Tunturi New Fitness BV
- YANRE Fitness Equipment Co., Ltd.
3. MARKET TRENDS AND FACTORS
- Covid-19 pandemic boosts connected fitness
- Advanced equipment delivers futuristic workouts
- Technology disrupts the fitness regime
- Personalization and immersive experience gain space as boutique fitness clubs spring up
- Technology to the rescue of treadmills
- Summary of key trends in the health, wellness and fitness industry
- Health and fitness clubs: a major market for fitness equipment
- Considerations When Selecting Commercial Fitness Equipment
- Recovery in gyms and health clubs to improve growth
- Bodybuilders remain the main customer group for commercial equipment
- Home fitness equipment: a growing market
- Key trends easing the transition to home training
- Focus on preventive healthcare to fuel demand for home fitness equipment
- Increased adoption of elliptical trainers for home use
- Growing Importance of Exercise Bikes as an Effective Fitness Solution for Heart Health Drives Demand
- Growth of overweight and obese population benefits market outlook
- Growing participation of women in sports and fitness due to increased purchasing power drives sales
- Growing interest in home gymnastics exercise among women
- Major sporting events support sales growth
- Muscle building equipment is gaining popularity among young people
- Cardio equipment trumps weights
- Elliptical cross trainers: advantages over treadmills
- Trends towards group exercise drive market expansion
- Integration of technology into fitness equipment for the visually impaired bodes well for the market
- Emerging technologies, advanced software and customized solutions for specialized training are driving demand in the military sector
- Favorable demographic trends and other macro-trends strengthen the market outlook
- Growing need to maintain physical activity in the aging population: an important driver of growth
- Exponential increase in urban population
- Increase in the influx of the middle class balloon population
4. WORLD MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- Market Snapshot
- Established nature of fitness concept to stimulate future growth
- Fitness fashions in the United States
- Growth promoters for the fitness industry
- Broadening of the consumer base to fuel the dynamics of the residential segment
- Rising Incidence of Chronic Disease Increases Need for Physical Activity and Fitness Equipment
- Prevalence of hypertension in the United States
- Prevalence of diabetes mellitus in the United States
- Increased incidence of CVD in the United States
- Mounting healthcare spending drives adoption of fitness equipment for personal care
- Increased adoption of new technologies and equipment
- Connected devices proliferate the market
- Smartphone-connected devices gain traction
- Age-based participation levels favor fitness activities
- Aging population: an important user category for the fitness equipment market
- Growing population of obese and overweight people
- Health club demographics remain poor due to current crisis
- Total number of profiled companies: 97
For more information on this report, visit https://www.researchandmarkets.com/r/xwwi49
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SOURCE Research and Markets