Global Fitness Equipment Market 2018 Analysis by Latest Trends, Product Types, End Users, Future Demand, Rapid Growth and Competitive Landscape till 2023
Oct 10, 2018
Fitness equipment industry research report covers increasing expenditure on fitness equipment and growth across the globe which enhances the decision making capabilities and helps to create an effective counter strategies to gain competitive advantage.
Dallas, United States - October 10, 2018 /MarketersMedia/ —
Fitness Equipment Market Insights:
The global fitness equipment market is projected to grow at the rate of 5.1% during the forecast period 2018 to 2023. Significant growth in sports industry has huge impact on the fitness equipment market. It also encouraging new regions to adopt fitness as an essential part of their lifestyle. Due to intense competition in the market, key players are trying to distinguish their products and services by providing a unique value proposition to survive in the highly competitive environment. Fitness equipment market is witnessing development in new and upgraded products, and are likely to focus more on efficiency in customer service, quality, technological innovations in fitness equipment, product performance, and pricing of the products.
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Competitive Landscape of Fitness Equipment Market
Major key players in global fitness equipment market - Amer Sports Corporation, Cybex International Inc., Impulse Qingdao Health Tech Co Ltd, Johnson Health Tech. Co., Ltd, Keiser Corporation, Matrix Fitness Systems Corp., Octane Fitness, LLC, Precor Incorporated, Promaxima Manufacturing, Ltd., Technogym S.p.A., The Brunswick Corporation and Torque Fitness LLC, among others.
Growing Inclination towards Healthy Lifestyle to Drive the Fitness Equipment Market Growth
Consumers willingness to spend more on fitness equipment with healthy aspects is playing key role to drive the fitness equipment market growth across the globe. The rising in the number of health clubs and gym across the globe has created huge demand for fitness equipment which will continue to influence the market growth in upcoming years. Growing popularity of treadmills, stationary bicycles, weightlifting machines among consumers who are looking to improve cardiovascular fitness is expected to boost the sales of fitness equipment globally. Increasing awareness about benefits of physical fitness especially by doctors and governments of different countries are continuously encouraging consumers to adopt the healthy lifestyle which is supporting the market growth. Moreover, rising cases of obesity especially in developed countries is a major concern, thus making them subject to different diseases. These factors are driving the market for cardiovascular fitness equipment in developed regions such as US, Japan, and Italy.
Fitness Clubs to Witness Fastest Growth during the Forecast Period
Growing health consciousness, increasing expenditure on fitness equipment and growth in obesity are expected to drive the demand of treadmills across the globe. Additionally, the convenience of using treadmills at homes and at gym has also boosted their sales globally. The major end users of treadmills equipment are home, gyms, schools and universities. Significant growth in gym businesses owning to convenience of attending gym sessions at any time, and affordable memberships are expected to boost the demand for commercial fitness equipment at gyms in upcoming years. Increasing collaborations between fitness training centers and corporates are also expected to provide boost to the fitness equipment market. The conventional tools of various social media platforms continue to allow key players to keep a constant dialogue with their consumers providing them information about the updates on new products and their features which is likely to play key role in the fitness equipment market growth during the forecast period.
Increasing Participants to Drive the Fitness Equipment Market Growth in Asia-Pacific Region
Rising health awareness and increasing obesity among consumers in North America is likely to support the fitness equipment market growth in the Asia-Pacific region. For instance, according to the CDC (Centers of Disease Control & Prevention), in 2017, almost more than 68% of Americans over the age of 20 are overweight, including 35% that are considered to be obese. Moreover, awareness and education about the importance of a healthy lifestyle continues to increase in the region. Fitness facilities operated by universities, municipalities, and even some medical centers are frequently upgrading the new fitness equipment with old one which is supporting the market growth in the region. Inclination of young generation towards strength training in Africa region is expected to boost the global fitness equipment market growth in the region. For instance, according to The Kenya Bodybuilding Federation (KBBF), the popularity of bodybuilding is increasing in the country and as a result Nairobi is slowly becoming home to one of the largest gym going communities in Africa.
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Key Developments in the Fitness Equipment Market
•June 2016 - Johnson Health Tech has signed an agreement to purchase specialty fitness retailer Leisure Fitness. The agreement helped to boost Johnson Health Tech retail footprint to 315 stores worldwide with the addition of the 27 Leisure Fitness stores.
•January 2018 - Peloton launched new treadmill which has a HD touchscreen that streams thousands of different live and on-demand classes so that users can join the class from home without the hassle of going to the gym.
Reasons to Purchase this Fitness Equipment Market Research Report
•Analyzing outlook of the market with the recent trends and Porters five forces analysis
•Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
•Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
•Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
•Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
•Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
•3-month analyst supports, along with the Market Estimates sheet in excel
Customization of the Fitness Equipment Market Research Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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