FACTS AT A GLANCE
Posted: May 2021
Management commitments: 2787
Companies: 157â Players covered include 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. and others.
Blanket: All major geographies and key segments
Segments: Type of equipment (cardiovascular training, strength training, other types of equipment); End use (health club / gym, home consumers, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Fitness Equipment Market To Reach $ 18.5 billion by 2026
The fitness industry includes equipment and equipment used in the home or in institutions such as clubs / gyms, colleges, schools, hotels, hospitals and spas to maintain a healthy body through exercise regular. Market growth is expected to be driven by increasing attention to health and wellness amid growing health awareness amid increasing number of chronic disease incidents. The increase in the number of fitness centers, health clubs and gyms and gym memberships is also expected to drive demand. Rapid industrialization and urbanization, especially in countries like China and India, along with the resulting increased working hours, sedentary lifestyles, unhealthy eating habits and pollution make people vulnerable to high stress levels and health problems.
The scenario causes people to pay more attention to their health, exercise, and join gyms or fitness centers. The rapid evolution of the digital world is pushing fitness facilities and equipment manufacturers to focus on technology-based solutions and interactions such as activity trackers, sophisticated fitness equipment, applications, equipment smart connected fitness, wearable devices, sensor-integrated workout clothing, artificial intelligence, and VR headsets. Amid gym and fitness club closures due to COVID-19, fitness enthusiasts are buying fitness equipment to work out at home. The significant increase in purchases of fitness equipment has resulted in massive shortages and soaring equipment prices.
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 $ 18.5 billion by 2026, with a CAGR of 5.3% over the analysis period. 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 a thorough analysis of the business implications of the pandemic and the 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 $ 4.7 billion in 2021, when China is expected to reach $ 3 billion by 2026
The fitness equipment market in the United States is estimated at 4.7 billion US dollars in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 3 billion by 2026, with a CAGR of 7.3% over the analysis period. Other notable geographic markets include Japan and Canada, each forecasts growth of 3.9% and 4.5% respectively over the period of analysis. In Europe, Germany is expected to grow at around 4.5% CAGR. Growth in the United States and Europe The region is supported by aging baby boomers, the growing wave of fitness and wellness, the increasing number of gym and health club memberships, as well as wide availability and easy access to advanced fitness equipment. High living standards, a large urban population, and high disposable incomes are driving the demand for fitness equipment. Robust economic growth, increasing disposable income, rapid urbanization and growing middle and upper middle class population in emerging markets such as China and India are driving substantial growth in demand for fitness equipment.
Strength training equipment type segment to reach $ 7 billion by 2026
The weight training and fitness equipment segment is driven by young consumers. The equipment is also an integral part of training programs in various sectors, including the police, military and public security. In the global segment of types of strength training equipment, United States, Canada, Japan, China and Europe will lead to the estimated 4.62% CAGR for this segment. These regional markets representing a combined market size of US $ 4.1 billion in 2020 will reach a projected size of 5.6 billion US dollars before the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 897.3 million by 2026, while Latin America will increase at a CAGR of 6.2% throughout the analysis period.
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