The fitness equipment market, a pivotal sub-sphere of the global fitness sector – has been strongly reinforcing its stance in its parent industry ever since the advent of fitness gyms. Valued at $10 billion in 2017, fitness equipment market has been showcasing an exponential rate of growth primarily on account of the fact that the lifestyle of a modern-day human is increasingly becoming more and more sedentary. The prevalence of this lifestyle coupled with the modern-day conveniences, where cheaply-priced fast-food is readily made available at the touch of a button, creates an extremely flourishing environment for cases of obesity as well as chronic diseases. This trend further propagates the inherent need to exercise and pursue fitness, augmenting fitness equipment industry trends.
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Cardiovascular machines are witnessing a high adoption in several application areas due to the increased heart problems faced by people. These machines include exercise bikes, treadmills, and elliptical machines, which help users in burning the calories consumed, eliminating the occurrence of heart attacks and diabetes. Moreover, these machines are being integrated with advanced systems, allowing users to track several health parameters. For instance, mobile tracking applications help users in tracking their health status by connecting these machines with their mobile devices. Moreover, applications of these machines are growing rapidly in health clubs and gyms, driving the fitness equipment market.
The fitness equipment market is experiencing a high adoption in offices owing to the increased corporate focus on the health conditions of employees & staff members. The multinational companies, which have large infrastructure & buildings are developing a separate space for establishing health & wellness centers for their employees. The companies are offering such services to increase the employee productivity in the organization. Moreover, the manufacturers in the fitness equipment market are developing and offering several advanced systems that are specifically developed for corporate sectors.
The APAC fitness equipment market is expected to grow at an impressively rapid rate in the ensuing years, that can be aptly credited to the developments in the regional fitness and healthcare industries. This is specifically true of China and India – two massive markets that are likely to depict an extremely lucrative growth potential. According to a 2018 report by the International Health Racquet and Sports club Association (IHRSA), approximately 22 million individuals attracted in by around 14 markets signed up to a health club in 2017. However, considering the fact that a majority of the world’s population resides in this region, the number exclusively spells out opportunity for health clubs and fitness gym chains to capitalize on the considerably untapped potential of the region.
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Driven by the robust awareness regarding sound health and good fitness levels, the revenue graph of fitness equipment industry is expected to demonstrate an exponential rate of growth. According to a report by Global Market Insights, Inc., the growing demand for these equipment in health clubs across the globe is projected to stimulate the fitness equipment market, slated to cross $14 billion by 2024.
Some Points From Table Of Content: –
Chapter 5 Fitness Equipment Market, By End-Use
5.1 Key trends by end-use
5.2.1 Market estimates and forecast, 2013 – 2024
5.2.2 Market estimates and forecast, by region, 2013 – 2024
5.3 Health Club
5.3.1 Market estimates and forecast, 2013 – 2024
5.3.2 Market estimates and forecast, by region, 2013 – 2024
5.4.1 Market estimates and forecast, 2013 – 2024
5.4.2 Market estimates and forecast, by region, 2013 – 2024
5.5.1 Market estimates and forecast, 2013 – 2024
5.5.2 Market estimates and forecast, by region, 2013 – 2024
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