New York, NY -- (SBWIRE) -- 05/18/2020 -- Fitness equipment comprise any type of machine or monitoring device that is required for physical exercise to manage overall weight, improve physical stamina, and develop muscular strength. In addition, physical exercise is advised during certain medical treatments. There is an increase in demand for fitness equipment due to growth in health awareness. The most commonly used fitness equipment include treadmill, elliptical, stationary bicycle, weightlifting machine & strength building machine, and others.

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Prevalence of obesity and growth in health consciousness have increased the adoption of fitness equipment. Furthermore, rise in the number of gym memberships, in-home equipment sales, growth in urban population, and certain government initiatives fuel the adoption of fitness equipment. One of the factors that could limits the growth opportunity is the high price of the fitness equipment. However, improvement in lifestyle, increase in youth population, and rise in per-capita income in developing countries are anticipated to ensure the overall market growth.

The global fitness equipment market is segmented based on type, user, and region. Based on type, it is categorized into cardiovascular training equipment, strength training equipment, and others. Cardiovascular training equipment is expected to dominate the market, in terms of value, throughout the forecast period on account of its greater penetration in the developed markets such as, the U.S. and Europe and the relatively higher prices over strength equipment. Users for fitness equipment are home consumer, health clubs/gym, and other commercial users. Other commercial users are further classified into hotels, corporate offices, hospital & medical centers, and public institutions. The health club/gym segment is expected to lead the market throughout the analysis period owing to the significant rise in the number of health clubs and memberships.

Based on region, the market is studied across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Portugal, Benelux, and rest of Europe), Asia-Pacific (Japan, Korea, China, India, Hong Kong, Indonesia, Vietnam, Australia, Malaysia, and rest of Asia-Pacific), and Latin America, Middle East & Africa (LAMEA - Brazil, and rest of Latin America). North America continues to be the market leader throughout the analysis period of 2017-2025. Asia-Pacific is expected to grow at the highest CAGR during the forecast period on account of the increasing demand and a larger youth population base in the region. Australia had 3,351 health clubs with total number of memberships in the range of 3.4-3.5 million in 2014. High prevalence of sports culture, increase in health consciousness, and rise in expenditure on fitness are the factors expected to propel the growth of the fitness equipment market in the country.

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Key Benefits for Fitness Equipment Market:

The report offers detailed analyses based on market intelligence with respect to type, user, and region to enable stakeholders to take precise investment decisions.
Value chain analysis provides key inputs on the role of all key intermediaries in the market, which would help the stakeholders in devising appropriate strategies.
Porter's five forces analysis highlights the influence of suppliers & buyers, and describes the competitive scenario of the market to facilitate efficient business planning.
The analysis of most significant drivers, restraints, and opportunities help to understand the overall fitness equipment market dynamics.

Fitness Equipment Key Market Segments:

The global fitness equipment market is segmented based on type, user, and region.

By Type

Cardiovascular Training Equipment
Strength Training Equipment
Other Equipment

By User

Home Consumer
Health Clubs/Gym
Other Commercial User
Hotel
Corporate Office
Hospitals & Medical Center
Public Institution (School, University, and Others)

By Region

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Portugal
Benelux
Rest of Europe
Asia-Pacific
Japan
Korea
China
India
Hong Kong
Indonesia
Vietnam
Australia
Malaysia
Rest of Asia-Pacific
LAMEA (Latin America, Middle East, and Africa)
Brazil
Rest of Latin America

Key Players

Icon Health & Fitness, Inc.
Brunswick Corporation
Johnson Health Tech Co. Ltd.
Technogym S.p.A.
Amer Sports Corporation
Nautilus, Inc.
Core Health and Fitness LLC.
True Fitness Technology, Inc.
Impulse (Qingdao) Health Tech Co. Ltd.
Torque Fitness LLC.
Exigo
Kettler (GB) Limited
Matrix Fitness
Octane Fitness

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