Growth of Gym Equipment Market: Industry Player, Price, Revenue, Share, Trends and Forecast Until 2022
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Global gym equipment market is set to exhibit an above average CAGR between 2017 and 2022, as per the latest study conducted by Fact.MR. The study also reveals that the global market for gym equipment will surpass a valuation of US$ 7,600 Mn by 2022-end.
Individuals are progressively enrolling themselves in fitness clubs and gyms in order to stay fit and healthy. A sedentary lifestyle that is followed by a majority of modern consumers is frequently linked with the cause of obesity, mental stress and various choric diseases. This, in turn, has triggered the urgency to adopt a healthier lifestyle. In addition, government authorities in various countries are initiating programs to encourage people to get enrolled in recreational activities that involve intensive physical exercise. The aforementioned factors are expected to reflect favorably on the global market for gym equipment during the forecast period. Moreover, the arrival of smart wearable technologies and smartphone application that can monitor user’s health, assist in training and analyze performance has been instrumental in popularizing various gym apparatus and innovative exercise equipment.
In recent years, the number of fitness clubs and gyms has increased significantly. Manufacturers are focusing on development of application-specific equipment compatible with personal devices, which is also expected to support the expansion of the global market for gym equipment.
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Cardiovascular Machines – Top-Selling Gym Equipment
On the basis of product type, preference for cardiovascular machines will continue to grow throughout the forecast period. The cardiovascular machines product type segment currently accounts for around 17% market share in terms of revenue. By the end of 2022, over US$ 1,200 Mn worth of cardiovascular machines are expected to be sold worldwide.
Among regions, the market in Europe is projected to remain highly attractive in 2017 and beyond. Increased consciousness about risks of obesity coupled with higher expenditure on gym equipment that enhance physical attributes is projected support the growth of the market in the region. During the forecast period, Europe’s gym equipment market is expected to register a CAGR of 4.6%.
Fact.MR in its report has profiled the key players functioning in the global gym equipment market, which include Brunswick Corporation, Johnson Health Tech Co. Ltd., Technogym SpA, Nautilus, Inc, Core Health and Fitness LLC, Torque Fitness LLC, Cosco Capital, Inc., Amer Sports Corporation, Impulse Healthtech Co. Ltd., Icon Health & Fitness, INC.
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