Commercial Fitness Equipment Market Estimated to Expand at a Robust CAGR over 2022
The global commercial fitness equipment market is foretold to be encouraged by an improving growth owing to the rising unwanted repercussions of leading a sedentary lifestyle, including chronic heart diseases and obesity. Increasing susceptibility to health problems such as stress due to unhealthy eating habits, abusive work hours, and high pollution rates has led the urban population to care more for their health.
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As a result, gym memberships and the significance of including exercise sessions in universities and schools have increased more than before. The emergence of connected technology and wearable devices are envisioned to offer better prospects in the market.
Buyers of this report could be exposed to some of the most dominating trends and opportunities taking shape in the global commercial fitness equipment market. Players are predicted to gain a sound understanding of the future growth and current status of various segments of the market.
Global Commercial Fitness Equipment Market: Dynamics
The commercial fitness equipment market is prognosticated to receive a telling boost in its growth due to factors such as increasing youth population, government initiatives promoting good health, increasing obese population, and escalating awareness about health and fitness.
However, the high cost of commercial fitness equipment could suppress the growth of the market to some extent. Nonetheless, there could be opportunities prevailing on the back of rising disposable income of consumers in emerging regions, improving lifestyle, and growing interest in healthy living.
Global Commercial Fitness Equipment Market: Segmentation
The international commercial fitness equipment market is prophesied to be segregated according to product, end user, and distribution channel. On the basis of product segmentation, the market could be classified into treadmill, free weights, exercise cycles, elliptical machines, ab machines, and others.
Amongst these, treadmill is anticipated to hold a king’s share in the market while reaching a valuation of US$1.0 bn by the completion of 2022. The annual absolute growth expected to be achieved by the treadmill segment could be larger than that attained by any other product in the category.
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By end user, the international commercial fitness equipment market is envisaged to be cataloged into gym, university and school, community, sports center, and other end users. As per distribution channel, the market could see a classification into sports goods stores, specialty sports shops, online retailing, discount stores, departmental stores, and other outlets.
By region, the international commercial fitness equipment market is foreseen to be divided into Europe which could lead with its staggering share in the coming years. Asia Pacific Excluding Japan (APEJ) could showcase a faster growth in the market, whereas Japan and the Middle East and Africa (MEA) are projected to be among the slow-growing markets. North America and Latin America could also join these regions to contribute toward market growth.
Global Commercial Fitness Equipment Market: Competition
The worldwide commercial fitness equipment market could include prominent industry names such as Brunswick Corporation (Life Fitness), Technogym, Johnson Health Tech. Co., Ltd., Precor Incorporated, Cybex, Amer Sports Corporation, Keiser Corporation, Matrix Fitness, and Promaxima.
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