In 2020, 39% of the world’s adults aged 18 and over were overweight and 13% were obese
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Jul 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 was valued at $11.6 billion in 2020, and is projected to reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028
Fitness equipment is widely used for physical fitness, weight control, and improving body endurance and muscle strength. The most commonly used fitness equipment are treadmills, stationary bikes, stair climbers, and weight-lifting machines. Increasing health and fitness awareness, rise in obese population, government initiatives to promote healthy lifestyle, and rise in young population are the main factors driving the growth of the global market size of fitness equipment. However, counterfeit fitness equipment is a key restraining factor of the market. On the contrary, the increase in the youth population, the improvement in lifestyle and the increase in the disposable income of individuals in developing countries are expected to offer immense opportunities for market players.
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An alarming rise in global obesity, especially in urban areas, complements the growth of the fitness equipment industry. According to the WHO, there has been a startling increase in the number of obese people around the world. In 2020, 39% of the world’s adults aged 18 and over were overweight and 13% were obese. Obesity is associated with a number of 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 tend to use more fitness equipment. Fitness equipment market trends such as self-care and virtual fitness training sessions are the main growth pillars to support sales of these products.
Some of the key players in the fitness equipment market analysis include:-
ANTA SPORTS LIMITED PRODUCTS
CORE HEALTH & FITNESS, LLC
ICON HEALTH AND FITNESS, INC.
BOOST HEALTH TECHNOLOGY CO., LTD.
JOHNSON HEALTH TECHNOLOGY. CO., LTD.
INTERACTIVE PLATOON INC.
TRUE FITNESS TECHNOLOGY, INC.
The fitness equipment market is segmented into type, end user, and region.
Based on type, the fitness equipment market analysis is classified into cardio training equipment, strength training equipment, and other equipment. The segment of cardiovascular training equipment is divided into treadmills, elliptical trainers, exercise bikes, rowing machines and others.
By end user, the market was segregated into home consumer, health club/gym, and other business user.
Key Study Findings
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 cardio fitness equipment segment led 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 fitness equipment market growth in 2020, due to the enforcement 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 from 2021 to 2028.
On a per end user basis, 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% over the forecast period.
By region, Asia-Pacific is anticipated to grow at a strong CAGR of 5.7% over the forecast period.
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Key Offer of the Report:
Key Driving Factors: An in-depth look at dynamic factors such as drivers, constraints, challenges, and opportunities.
Current Market Trends and Forecasts – An In-Depth 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 – A study of each segment along with driving factors and growth rate analysis of each segment
Geographical Analysis – An in-depth analysis of the market across various geographical regions that helps market players seize fruitful market opportunities.
Competitive Landscape – A study of the major market players that currently lead the Fitness Equipment market
The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, enabling business investors to come up with sound and fruitful business decisions.
The study covers a detailed study of the latest market trends and market size along with a forecast of the Fitness Equipment market during the forecast period.
The report offers an analysis of the market potential in various geographical regions along with the contribution to revenue.
The study includes a detailed analysis of the key market players who are active in the market.
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