According to Stratistics MRC, the Global Fitness Equipment market is expected to grow from $11.99 billion in 2016 to reach $17.48 billion by 2023 with a CAGR of 5.5%.
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Increasing health awareness among the youth, rising obese population and increasing market initiatives for promoting good health by government and companies are some of the key factors fuelling the market. In addition, technological advancements such as wearable technologies and connected devices are fuelling the fitness equipment market. However, high costs of fitness equipments are hampering the market growth.
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By equipment type, cardiovascular training equipments are used to facilitate physical activity that the human body can use to promote good health, lose weight and even relieve stress. In addition use of these equipments give mental stress relief and minimizes the effects of depression. Treadmills, Stairclimbers, Exercise Bikes, Rowing Machines, Ellipticals and Circuit Weight Training are some of the cardiovascular training equipments. United States is the major contributor to the growth of these equipments owing to high obesity rates and increased health consciousness.
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Geographically, Asia Pacific region is expected to witness huge growth due to rising aging population and increasing cardiovascular disorder among various age groups. Rapid urbanization, rising disposable income, and increasing youth population are the key propellants for the growth of the market in APAC countries as population is actively getting involved in fitness activities.
Some of the key players in the fitness equipment market are Johnson Health Tech Co. Ltd., Amer Sports Corporation, Icon Health & Fitness, Inc., Technogym S.p.A, Nautilus, Inc., Brunswick Corporation, Core Health and Fitness LLC, Torque Fitness LLC, Impulse (Qingdao) Health Tech Co. Ltd., True Fitness Technology, Inc., Matrix Fitness, Exigo, Octane Fitness, Precor incorporated and Kettler (GB) limited.
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Distribution Channels Covered:
• Offline Stores
• Online Stores
End Users Covered:
• Health Club
• Other End Users
Equipment Types Covered:
• Strength Training Equipment
• Cardiovascular Training Equipment
• Other Equipment Types
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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