Portland, OR -- (SBWIRE) -- 07/26/2017 -- Allied Market Research recently published a report on the global fitness equipment market for the forecast period of 2014–2022. The market registered $12,885 million by 2022 with India and China being the major contributors to the market. In 2015, health clubs and gyms dominated the segment and is currently registering a CAGR of 4.6%. They make up for 40% of the entire fitness equipment market.
The report highlights the market definition and scope, key findings, Porter's Five Force Analysis, value share analysis and market share analysis. The Porter's Five Force Analysis focuses on the bargaining power of the buyers and suppliers, increasing threat of substitutes, new entrants, and the competition among the key players. The key findings broach about the top impacting factors, top winning strategies, and top investment pockets that hold lucrative for the market segment. Since there is a surge in the number of people taking steps to improve their health, there is a positive growth in the segment.
It contains a detailed information about the drivers, opportunities, and restraints that are a part of the business. The drivers such as awareness in health, rise in obese population, fitness initiatives by the government and companies, and a reasonable number of fitness centers are responsible for the financial boost of this segment. Restraints come in the form of high cost of equipment. However, the opportunities like an active youth population and the rise in disposable income can counter the drawbacks.
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There is a segmentation on the basis of equipment type, end user, and geography. Cardiovascular and strength training make up for a major part of the market. Cardiovascular equipment makes up for about 40% of the total fitness equipment market with a CAGR of 4.1% during the forecast period. Cardiovascular equipment generated 50% of the total market revenue in 2015. However, strength training equipment will push up the financial mark in the forecast period. Apart from cardiovascular and strength training equipment, the report also highlights a portion of the equipment market with their market trends, competitive environment, key growing factors and sectors, activity monitors, and body analyzers.
Market size and forecast research is conducted on each of the end users that consist of domestic consumer, health clubs and gyms, and commercial users. The geographical market includes North America, Europe, Asia-Pacific, and LAMEA. U.S stands as the global leader in fitness equipment with users consuming a large portion of cardiovascular equipment. The Asia-Pacific regions are gradually gaining momentum in the strength training equipment market due to a large number of youth population. Research experts can foresee a rapid growth in Asia-Pacific region since people are conscious of their physical appearances and rapid urbanization. The growth is predicted for the forecast period of 2016–2022. Each of the geographical segment is further dissected to provide important information on the key market trends, market size, and forecast by type and by user.
The key market players mentioned in the report are Icon Health & Fitness Inc., Johnson Health Tech Co., Ltd., Brunswick Corporation, Technogym S.P.A, Amer Sports Corporation, Nautilus, Inc., Core Health & Fitness, True Fitness Technology, Torque Fitness LLC, Impulse (Qingdao) Health Tech Ltd. Co. The report contains an in-depth information on the SWOT analysis conducted by the players. This will enable the major shareholders to formulate strategies and tactics for market penetration. The key players have important statistics mentioned in terms of their business performance, business developments, and financial hold over the segment and the drivers that will influence their business in the years to come.
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