Growing Awareness Of Health & Wellness And Drastic Increase Of Obese Population is trigger Fitness Equipment Market growth 2022

According to report published by Grand View Research, The global fitness equipment market size was estimated to be valued over USD 10.01 billion in 2014 and is expected to grow at a CAGR of over 3.5% Till 2022

The global Fitness Equipment Market is anticipated to reach USD 13.24 billion by 2022. . Key factors that are expected to fuel growth include urbanization leading to changing lifestyles, growing awareness of health & wellness and drastic increase of obese population.

Emerging economies have been observing growing trend for healthcare programs across all segments. In addition, governments in these countries are persistently attempting to conceptualize and establish effective healthcare plans. The introduction of new fitness regimes and healthcare programs across various corporates to encourage employees is expected to trigger growth. Fitness equipment market is projected to grow at a CAGR of 3.6% from 2015 to 2022.

On the basis of equipment type, the industry is segmented into strength training, cardiovascular and devices such as trackers & monitors. Commonly used equipment across all age groups to maintain fitness and manage weight include stationary bicycles, treadmills, weightlifting machines and stair climbers.

Demand for cardiovascular training devices is comparatively greater than strength training devices on account of dual benefit of well-being and disease prevention. Cardiovascular training devices are estimated to strengthen their hold on the industry in the next seven years and grow at a CAGR exceeding 3.0% from 2015 to 2022 owing to its increased adoption. Cardiovascular training devices such as treadmills, stair machines, and rowing machines stair machines. They are extensively used to keep Body Mass Index (BMI) within limits and maintain body fitness.

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Health clubs and gyms accounted for nearly 45.0% of total market share and dominated the market in 2014 as they form an essential prerequisite for health clubs. However, home users buy different equipment for their use. Purchase of these devices by commercial firms such as hospitals, hotels, and corporate offices to enhance customer experience is also expected to drive growth in the market.

Asia Pacific is a lucrative market with a high requirement for advanced and sophisticated fitness equipment. It is projected to grow at a CAGR of over 7.0% from 2015 to 2022. Outsizing youth population coupled with increasing disposable incomes in emerging economies is anticipated to propel growth.

North America is expected to be a major market for this industry owing to rising overweight population. North America acquired nearly 45.0% of the total industry share in 2014 and is expected to continue the trend over the forecast period at a CAGR of over 2.0%.

Firms in this business are very competitive and strategize by introducing updated version of existing products or launching newer and improved equipment. Key strategies being adopted by the companies include product innovations and exclusivity owing to technological enhancements. Market players engage in forming alliances to gain market share and dominate the industry. It includes Cybex International Inc., Brunswick, Johnson Health Tech., Paramount, Precor and Nautilus Inc.

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Grand View Research has segmented the global fitness equipment market on the basis of device, end-use, and region:

Fitness Equipment Device Outlook (Revenue, USD Million, 2012 - 2022)
• Cardiovascular training
• Strength training
• Others
Fitness Equipment End-Use Outlook (Revenue, USD Million, 2012 - 2022)
• Home
• Health clubs
• Others
Fitness Equipment Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Europe
• Asia Pacific

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Contact Details

Company Name: Grand View Research, Inc
Issued By: Sherry James
Phone: 1-415-349-0058
Address: Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: For More Information:
City: San Francisco
State: CA
Zip: 94105
Country: United States
Website: Visit the website

Keywords : Fitness Equipment Market,

by Sherry James (few years ago!)

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