APAC Fitness Equipment Market is Estimated to Grow at An Impressively Rapid Rate Over 2018 - 2024 | Key Players are Johnson Health Tech. Co., Ltd., Nautilus Inc., Technogym, Torque Fitness, True Fitness

The APAC fitness equipment market is expected to grow at an impressively rapid rate in the ensuing years, that can be aptly credited to the developments in the regional fitness and healthcare industries. This is specifically true of China and India – two massive markets that are likely to depict an extremely lucrative growth potential. According to a 2018 report by the International Health Racquet and Sports club Association (IHRSA), approximately 22 million individuals attracted in by around 14 markets signed up to a health club in 2017. However, considering the fact that a majority of the world’s population resides in this region, the number exclusively spells out opportunity for health clubs and fitness gym chains to capitalize on the considerably untapped potential of the region.

The Major Key Players in the Market are as follows:
Amer Sports Corporation, Brunswick Corporation, FitnessEM, HOIST Fitness, ICON Health and Fitness, Johnson Health Tech. Co., Ltd., Nautilus Inc., Technogym, Torque Fitness, True Fitness

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Increase in worksite health promotions and corporate programs are expected to fuel the fitness equipment market. These programs are instrumental in improving health of the employees and reducing medical expenses and sick leaves. For instance, the Chesapeake Energy Corp. offers cash incentives to employee’s who participate meet their goals in various areas of the program. Also, the company has a 72,000-square foot fitness centre exclusively built for their employees. The increasing trend of Pay and Play gyms is further anticipated to drive the fitness equipment market. These allow the consumer to pay for only the activities that the use rather than the entire package or a large membership fee.

The cardiovascular segment of the fitness equipment market is projected to dominate globally with a growth rate of over 5% from 2017 to 2024. These systems are highly efficient in the metabolism, hormonal profile, and heart conditions of the user. Additionally, they can be used in the comfort of the consumer’s home and by users across various age groups.

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The health club sector is projected to hold the largest revenue share during the forecast timespan. The provision of amenities such as Wi-Fi, entertainment, and personal training guides that offer specialised training to the customer is anticipated to drive the fitness equipment market. They also reduce the total cost of ownership and regular maintenance of the equipment.

The increase in health consciousness among the working and geriatric population in the U.S and Europe is anticipated to drive the fitness equipment market growth. High obesity rates in the U.S is a major factor contributing towards the regional growth. The U.S population comprises of approximately 38% of obese adults in 2016.

Driven by the robust awareness regarding sound health and good fitness levels, the revenue graph of fitness equipment market is expected to demonstrate an exponential rate of growth. According to a report by Global Market Insights, Inc., the growing demand for these equipment in health clubs across the globe is projected to stimulate the fitness equipment market, slated to cross $14 billion by 2024.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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