The Market For Global Fitness Equipment Market Is Expected To Grow At CAGR 8.9% From 2017 To 2024.
Data Bridge Market Research new Insight’s on “Global Fitness Equipment Market is projected to reach 15.75 billion by 2024, from USD 11.69 billion in 2016 growing at a CAGR of 3.8% during the forecast period of 2017 to 2024”.
The market is segmented By Type (Cardiovascular Training Equipment (Treadmills, Elliptical Trainers, Stationary Cycles, Rowing Machines, Stair Steppers, Others), Strength Training Equipment (Single Stations, Plate Loaded Equipment, Free Weights, Benches and Racks, Multistations, Accessories), Body Composition Analyzers (Bioimpedance Analyzer, Skinfold Caliper, Dual Emission X-Ray Absorptiometry (Dexa), Hydrostatic Weighing, Air Displacement Plethysmography), Fitness Monitoring Equipment), By End-User (Health Clubs, Gyms, Home Settings, Corporate Settings, Apartments, Hotels, Hospitals, Clinics), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa, Rest of the World) – Industry Trends and Forecast to 2024.
The actual calculation year for the report in 2016, while the historic data is for 2015 and the forecast period is still 2024.
Global Fitness Equipment Market: Recent Developments
Fitness equipments include all monitoring and machinery tools which requires for physical fitness. Exercise helps to control fat, burn calories, healthy heart, to improve physical stamina and for muscular strength.
The Global Fitness market has observed a spontaneous growth, due to the increase in number of health problems; as a result there is a great increase in the number of fitness centers globally. The awareness towards fitness is the main factor driving the market for fitness equipments in the forecast period 2017 to 2024.
The implementation of fitness equipment is majorly obsessed by the huge number of obese people, chiefly in developed countries. The heavy population segment drives the practice of cardiovascular equipment for weight management.
The increased alertness for health & fitness also drives the implementation of fitness equipment, chiefly preferred by increasing in-home equipment sales and fitness club memberships. The market in the forecast period to 2024.
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Global Fitness Equipment Market Categories: Segmentation
The global fitness equipment market is segmented on the basis of type, end-user and geography.
Based on type fitness market is segmented into cardiovascular training equipment which is sub segmented into treadmills, elliptical trainers, stationary cycles, rowing machines, stair steppers, others. Strength training equipment which is sub segmented into single stations, plate loaded equipment, free weights, benches and racks, multistations, accessories.
The market is also segmented on the basis of end users Health Clubs, Gyms, Home Settings, Corporate Settings, Apartments, Hotels, Hospitals, Clinics.
The mounting population is the other reason for the swift escalation of fitness equipment market. Fitness equipment has a varying demand with the age demographics creating a great opportunities for the fitness equipments.
Global Fitness Equipment Market: Geographic Segmentation
The market is segmented into 5 regions North America, Europe, Asia-Pacific, South America, Middle East and Africa, Rest of the World. The regions are further segmented into 15 chief countries such as US, Mexico, Canada, India, China, Japan, Korea, Southeast Asia, and Brazil. In 2017, North America is expected to dominate the fitness equipment market with 41.6% market share followed by Europe and APAC. Nevertheless the APAC region is expected to grow at the highest CAGR of 6.8% in the forecast period 2017 to 2024. The report includes company share data for different geographies including Global, North America, Europe and APAC.
Global Fitness Equipment Market: Company Share Analysis
In 2016, North America is expected to account for the largest share of 40.7% of the global fitness equipment market. It is projected to reach USD 5,562.5 million by 2024 from USD 4,943.3 million in 2017, at a CAGR of 1.7% during the forecast period. Asia is expected to be the fastest growing segment in the forecast period with the CAGR of 6.8%. The growth in Asian market is due to the availability of disposable income, increasing health awareness to remain fit and fine, increasing aged population, and changing lifestyle. These factors are contributing to the demand of fitness equipment in the Asian market.
The global fitness equipment market is highly fragmented with various companies operating in local regions. The report includes company share data for different geographies including North America, Europe, South America and Asia Pacific.
Some of the major players in the global market include Beurer GmbH, Cybex International, Amer Sports Corporation, Brunswick Corporation, TechnogymSpA, Tanita, Johnson Health Tech Co. Ltd., Seca, InBody Co., Ltd., ICON Health & Fitness, Omron Healthcare, Inc., Life Fitness, Jawon Medical Co., Ltd., Nautilus, Precor, Motus, Nantong Yida Sports, GE Healthcare, Cosmed, Northern Lights, Bodystat, SCHNELL Trainingsgeräte, Hologic, Inc., Tonic Fitness Technology, and Impulse Health Tech Ltd among other companies.
Other Market Insights:
Global Body Composition Analyzers Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 9.1% in the forecast period 2017 to 2024, expected to reach USD 1125.0 million by 2024.
Global Sports Medicine Market, latest insights by Data Bridge Market Research states that the market is growing at CAGR of 8.9% in the forecast period 2017 to 2024, expected to reach USD 34.7 Billion by 2024.
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