Fitness Equipment Market - Overall Industry Analysis
Portland, OR -- (SBWIRE) -- 11/30/2017 -- Progressive Markets added a report, "Fitness Equipment Market - Based on Type (Strength Training Equipment, Cardiovascular Training Equipment and Other Equipment), End User (Health Clubs/Gyms, Home Consumer and Other Commercial Users), Geography (North America, Europe, Asia-Pacific & LAMEA) and Industry Forecast, 2016 - 2025", which says that market is estimated to garner $14.2 billion by 2025.
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In this fast-paced modern life, people don't have the time to take care of their health. Due to this negligence, there are growing incidences of various diseases across the world. Consequently, consumers are now becoming more health-conscious and are willing to take initiatives on behalf of their fitness and well-being. Thus, the demand for fitness equipment is rising. Fitness equipment is used for physical exercises to maintain body weight, increase stamina, and develop muscular strength. The popularly employed equipment includes treadmills, elliptical, and stationary bike. They assist in stimulating the heart rate, burning excess body fat, and maintaining the overall health and fitness. Strength training equipment helps increase muscular strength and improve physical appearance and personality. They constitute free weights and other strength machines.
Market Drivers and Restraints
The market for fitness equipment is growing at a considerable rate and several factors are playing a role in supporting its growth. The growing number of fitness conscious consumers and the rise in awareness of health and fitness benefits are mainly driving the market growth. The trend is prominent in the urban areas. The market would witness a constant growth in the semi-urban areas of the developing economies. Moreover, a rise in the number of obese population around the world is propelling the demand for fitness equipment.
The lack of exercise and improper diets are the major causes of obesity, leading to several cardiovascular and lifestyle diseases. As a result, cardiovascular equipment is the most popular choice for weight loss. The initiative for starting several healthcare programs by governments in the developed economies is yet another driving factor for the growth of the market. Developing countries exhibit a considerable growth of this trend for healthcare offerings across several sectors. On the other hand, the expensiveness of fitness equipment is a major factor that hinders the growth of the fitness equipment market. This leads to obtaining second-hand equipment by start-up gyms & fitness centers and in-house users. A growing demand for resale products was seen to upgrade fitness facilities in hotels, health clubs, hospitals, and wellness centers.
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Fitness Equipment Market Key Segmentation:
The fitness equipment market analysis report studies the overall market segmented by type, end user, and geography. Based on the type, the market is divided into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment is further divided into treadmills, elliptical, stationary bike, rowing machine, and others. By end user, the market is divided into home consumer, health clubs/gyms, and other commercial users. The other commercial users segment is again divided into hotels, corporate offices, hospitals & medical centers, and public institutions (schools, universities, and others).
Geographically, the fitness equipment industry is analyzed across the North America, Europe, Asia-Pacific, and LAMEA. In North America, the fitness equipment market report provides a detailed analysis of the regions such as the U.S., Mexico, and Canada. In Europe, a detailed analysis is offered for UK, Italy, Germany, France, Spain, Portugal, Benelux, and the rest of Europe. In Asia-Pacific, the market study is covered for Japan, Korea, China, India, Hong Kong, Indonesia, Vietnam, Australia, Malaysia, and the other parts of the region. In LAMEA, the analysis is covered for Brazil and rest of Latin America.