Physical Fitness Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Physical Fitness Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : March, 2020 | Medical Devices | PPT format

Report Digest


Global Physical Fitness Equipment Market: Snapshot

Continuous research on human body structure has paved way for technological advancements and innovation of fitness equipment, thus escalating the development of the global physical fitness equipment market. Technological advancements include the incorporation of several components in a single unit, ensuring miniaturization at the same time. The expanding presence of internet is facilitating the greater access to training tutorials and expert opinions. This, in turn, is stoking the growth of the market. However, the high price of these equipment is restricting their widespread adoption.

On the basis of product, the global physical fitness equipment market can be divided into strength training and cardiovascular training. The market will witness a sharp rise in the demand for fitness equipment for strength training in the coming years, thanks to rising disposable income and growing youth population. These equipment are used to improve muscular strength and enhance one’s personality and appearance. The cardiovascular segment will account for a substantial share in the market. Health benefits such as heart rate conditioning, fat burning, metabolism improvement, and body toning are driving the adoption of cardiovascular fitness equipment.

Based on end user, the market can be bifurcated into health clubs and home. Health clubs will be a major revenue contributor during the forecast period. The competitive benefits offered by health clubs such as gym training and diet plans are resulting in the greater footfall, which in turn is triggering the deployment of physical fitness equipment. The growth of the home segment can be attributed to the increasing health awareness and busy lifestyles. However, problems related to space at houses can limit the segment from realizing its utmost potential.

Physical Fitness Equipment Market: General Outline

According to World Health Organization (WHO) report, approximately three million individuals die due to obesity and its related disorders, which include cardiovascular diseases, diabetes, stroke, and others. Increased weight related diseases have triggered the market for physical fitness equipment. There has been a considerable rise in demand for treadmill, exercise bike, steppers, free weights, weightlifting machines, home fitness products, and fitness monitors in the recent past.

The U.S. records for the highest number of overweight population, while South East Asia has the lowest obesity rate. It is also worth noting that higher income groups contribute to obese population, in the developed countries. Reduced physical activities in the young age groups, and inactive lifestyle has increased weight related issues, these factors have pressurized government and other institutes to increase awareness regarding physical fitness. 

Physical Fitness Equipment Market: Inclusive Insight

The primary target of the physical fitness equipment market is the younger population, however a considerable amount of demand is generated from those falling in the old age bracket. There is also a high demand for home physical fitness products, due to the busy and hectic lifestyle of consumers. Exercise bike and treadmills are major contributors to the market. According to statistics published by Fitness Expo, over 15% of the population uses treadmill. Cost effective, easy functions, and wide availability are a few drivers for the treadmill market. Improved technology, and advanced ergonomic products have also assisted the adoption of home physical fitness products. 

With the advent of physical fitness monitors that track number of steps taken, calories burned, and stairs climbed, sleep monitors and others, have helped in tracking performance regularly. The physical fitness market is also booming due to miniaturized devices, attractive designs, and synchronization with smart phones that act as motivators. Various governments have also taken initiatives to curb obesity by subsidizing gym memberships, also increased importance for physical fitness in school is another driving factor for the physical fitness equipment market.     

Physical Fitness Equipment Market: Regional and Segment Overview

With availability of drugs in the market, and methods such as bariatric surgeries, one can see that physical fitness prevails as the primary method to maintain physical health. Due to high rate of obesity, and higher disposable income to buy expensive fitness devices, North America clearly emerges as the leader of the physical fitness equipment market. There is a growth in the market for home fitness equipment segment as opposed to the gym physical fitness segment. 

China records for the second largest obese population after the U.S. globally. According to University of Washington’s Institute for Health Metrics and Evaluation, 46 million obese and 300 million overweight individuals were recorded in China. 

Physical Fitness Equipment Market: Key Market Players

Key players in the physical fitness equipment market are BodySolid, Cybex International, Inc., Heinz Kettler Group, ICON Health & Fitness, Inc., Keys Fitness Products L.P, Life Fitness, Magnum Fitness Systems, Paramount Fitness Corp., PowerSport International, Reebok International, Star Trac, Technogym, Nautilus, Inc., and Tunturi OY Ltd.  Fitbit, Jawbone, and Nike are the leading players in the fitness monitoring devices market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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