In 2020, 39% of adults in the world aged 18 and over were overweight and 13% were obese
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, July 15, 2022 /EINPresswire.com/ — Fitness Equipment Market 2021 to 2028
According to a new report published by Allied Market Research, titled “Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021-2028,” the fitness equipment market is estimated to be worth $11.6 billion in 2020 , and its reach is predicted. $14.8 billion by 2028, with a CAGR of 3.3% from 2021 to 2028.
Fitness equipment is widely used for physical fitness, weight control, and improving physical endurance and muscle strength. Common fitness equipment includes treadmills, stationary bikes, stair climbers, and weight machines. Increasing health and fitness awareness, increasing obese population, government initiatives to promote healthy lifestyles, and increasing youth population are the major factors driving the growth of the global fitness equipment market. However, counterfeiting of fitness equipment is a key restraining factor of the market. On the contrary, it is expected that the increase in the number of youth, improved lifestyles and growth in the disposable income of individuals in developing countries will offer huge opportunities to market players.
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The alarming rise in global obesity, especially in urban areas, is complementing the growth of the fitness equipment industry. According to the WHO, there has been a staggering increase in the number of obese people worldwide. In 2020, 39% of adults in the world aged 18 and over were overweight and 13% were obese. Obesity is associated with numerous health problems or disorders such as sudden cardiac arrest, hypertension, hypotension and diabetes. Therefore, in order to lose weight, reduce stress and improve blood circulation, obese people use fitness equipment more often. Trends in the fitness equipment market, such as health self-care and virtual fitness training, are the main growth pillars supporting the sales of these products.
Some of the key players in the Fitness Equipment market analysis include:
ANTA SPORTS PRODUCTS LIMITED
CORE HEALTH & FITNESS, LLC
ICON HEALTH & FITNESS, INC.
IMPULSE HEALTH TECHNOLOGY CO., LTD.
JOHNSON HEALTH TECH. CO., LTD.
PELOTON INTERACTIVE INC.
TORQUE FITNESS, LLC
TRUE FITNESS TECHNOLOGY, INC.
The fitness equipment market is segmented by type, end user, and region.
Based on type, the fitness equipment market analysis is categorized into cardiovascular training equipment, strength training equipment and other equipment. The cardiovascular training equipment segment is divided into treadmill, elliptical, stationary bike, rowing machine, and others.
By end user, the market is segmented into home users, health club/gym and other commercial users.
Key findings of the study
By region, North America dominates in terms of fitness equipment market share and is expected to maintain its dominance during the forecast period.
By type, the cardiovascular training equipment segment is leading in terms of market share and is expected to gain market share in the coming years
By end-user, the home consumer segment accounted for more than 60% of the growth of the fitness equipment market in 2020, due to the imposition of social distancing and gym closures during the COVID-19 pandemic. However, the health club/gym segment is poised to grow at the highest CAGR during the fitness equipment market forecast period of 2021 to 2028.
From the end user, the health club/gym segment is expected to gain market share in the coming years and is estimated to grow at a CAGR of 6.4% during the forecast period.
By region, Asia Pacific is expected to grow at a robust CAGR of 5.7% during the forecast period.
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The report’s key offering:
Key Driving Factors: An in-depth study of dynamic factors such as drivers, restraints, challenges and opportunities
Current Market Trends and Forecasts: A Comprehensive Study of the Fitness Equipment Market
along with recent market trends and forecasts during the forecast period to help clients make an informed decision and formulate lucrative business strategies
Segmental Analysis: Study of each segment combined with driving factors and growth rate analysis of each segment
Geographical Analysis: In-depth analysis of the market across several geographic regions that helps market players tap into fertile market opportunities
Competitive Landscape: A study of the major market players currently leading the Fitness Equipment market
The report includes Porter’s Five Forces analysis, SWOT analysis to understand the capabilities of buyers and suppliers, which enables business investors to design sound, fruitful business decisions.
The study covers a detailed study of the latest market trends and market size along with the Fitness Equipment market forecast during the forecast period.
The report offers an analysis of the market potential in various geographical regions along with the revenue contribution.
The study includes a detailed analysis of the key market players active in the market
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