The fitness equipment market is expected to grow at a CAGR of 3.3%; The market will exceed $14.8 billion by 2028

Fitness Equipment Market

Asia-Pacific is anticipated to grow at a strong CAGR of 5.7% over the forecast period.

POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, July 25, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled “Fitness Equipment Market by Type and User final : Industry Forecast and Opportunity Analysis, 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.

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.

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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.

Some of the key players in the fitness equipment market analysis include ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Anta Sports, Technogym SpA, Peloton, Nautilus, Inc., Core Health and Fitness, LLC, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd. and Torque Fitness, LLC.

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FREQUENT QUESTIONS?
Q1. What will be the size of the Fitness Equipment market from 2021 to 2028?
Q2. What is the CAGR of the Fitness Equipment market?
Q3. How can I get a sample report of Fitness Equipment Market?
Q4. What is the base year calculated in the Fitness Equipment Market report?
P5. Which are the main companies in the Fitness Equipment market?

Reasons to buy this Fitness Equipment Market Report:

> Mergers and acquisitions must be well planned by identifying the best manufacturer.

> Classify new clients or potential partners in the demographic group you are looking for.

> Suitable for providing reliable, high-quality data and analysis to help your internal and external presentations.

> Develop tactical initiatives by gaining a better understanding of the areas in which large corporations can intervene.

> Increase and grow business potential and reach, develop and plan licensing and licensing strategies by finding potential partners with the most attractive projects.

> Recognize newcomers with potentially strong product portfolios and devise effective counterstrategies to gain competitive advantage.

> Develop effective R&D strategies, gather information, analysis and strategic insights from the competition

Reasons to buy this Fitness Equipment Market Report:

> Mergers and acquisitions must be well planned by identifying the best manufacturer.

> Classify new clients or potential partners in the demographic group you are looking for.

> Suitable for providing reliable, high-quality data and analysis to help your internal and external presentations.

> Develop tactical initiatives by gaining a better understanding of the areas in which large corporations can intervene.

> Increase and grow business potential and reach, develop and plan licensing and licensing strategies by finding potential partners with the most attractive projects.

> Recognize newcomers with potentially strong product portfolios and devise effective counterstrategies to gain competitive advantage.

> Develop effective R&D strategies, gather information, analysis and strategic insights from the competition

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