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Asia-Pacific Fitness Equipment Market is Expected to Grow High CAGR of 7.5% by 2020

02-25-2020 07:31 AM CET | Health & Medicine

Press release from: Allied Market Research

Asia-Pacific Fitness Equipment Market

Asia-Pacific Fitness Equipment Market

"The market for home fitness equipment is also witnessing gradual growth since the past few years. The aging population across developed countries such as Japan and South Korea prefer exercising at home. The equipment used in homes is most commonly designed and used for cardiovascular exercises."

Asia-pacific fitness equipment market is expected to garner $2.4 billion by 2020, registering a CAGR of 7.5% during the period 2015-2020. Rapidly growing youth population with rising disposable income and the growing awareness about health and fitness, would drive the growth in Asian countries such as China and India. By 2020, the adoption of fitness equipment by health clubs would contribute about 47% of the Asia-Pacific fitness equipment market revenue. Among the different types of fitness machines, cardiovascular fitness equipment would dominate the market throughout the analysis period.

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As a result of unhealthy eating habits and hectic lifestyle, the count of obese or overweight population is on rise in Asian countries. In order to overcome the problems associated with obesity, people are preferring physical workouts. The cardiovascular equipment market is benefited due to the increased preference of weight management exercises. As a result, the market of cardiovascular exercise equipment continues to be a significant contributor, accounting for over half of the total revenue of the Asia-Pacific fitness equipment market, throughout the analysis period.

Among the end user segments, health clubs would significantly drive the fitness equipment market growth as these are the most preferred workout stations for a significant proportion of population under the age of 50 years. The business of health clubs across Asia is expected to grow by at least $10 billion in next few years. A significant proportion of this business would be reinvested into purchasing or upgrading the fitness equipment, eventually driving the market of equipment across Asia-Pacific. Additionally, the adoption from other commercial users such as hotels, hospitals and corporate offices would rise rapidly during the forecast period. Several leading industry players such as Technogym, Johnson Health Tech Ltd. and Precor offer customized product portfolios in the commercial user segment.

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Key findings of the study:

oThe Asia-Pacific fitness equipment market would grow at a steady rate during the forecast period owing to the increasing demand by obese population and rising health and fitness awareness
oIndia would witness the highest growth, followed by China. The fitness equipment market in India would grow at a CAGR of 8.8% during 2015 - 2020
oThe cardiovascular equipment segment would drive the market throughout the analysis period with around 50% of contribution to market size by value
oThe adoption of fitness equipment by commercial customers such as hotels, hospitals, and enterprises would grow at a CAGR of 9.0% during the forecast period
oHealth clubs would continue to dominate the user segment accounting for over 40% of the market share throughout the analysis period

The presence of the leading global players as well the domestic companies is observed in the Asia-Pacific fitness equipment market. Domestic players compete with branded products from international players, who operate through strong distribution channels. To sustain the competitive market, many leading companies such as Amer Sports, Nautilus and Cybex International are launching new products and partnering with other companies.

The report covers a detailed study of key players such as Amer Sports, Nautilus Inc., Konami Corporation, Brunswick Corp., Cybex International Inc., ICON Health & Fitness Inc., Johnson Health Tech Ltd., Technogym SpA, Impulse Health Tech Ltd. Co. and Shuhua Co. Ltd.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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