Fitness Equipment Market Trends Analysis 2020-2027| Brunswick Corp., Technogym SpA, Nautilus, Inc., Amer Sports Oyj, Johnson Health Tech Co. Ltd., ICON Health & Fitness, Inc., TRUE Fitness Technology, Inc.

The global fitness equipment market is projected to reach around US$ 24.1 billion by the end of 2027, in terms of revenue, growing at CAGR of 3.5% during the forecast period (2019-2027).

Fitness equipment includes treadmills, weightlifting machines, and stationary bikes. They are used in home, gym, fitness the club, hotels, and corporate offices. This equipment helps in weight management, boost stamina, and remove excessive fat. Fitness equipment can be classified into cardiovascular training and weight training and are widely available in online and offline stores.

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The health club is the largest consumers of fitness equipment but these equipment are also gaining huge demand from the homecare sector due to the rising number of people adopting a healthy lifestyle and aspire to have a good personality.

Drivers

A growing number of obese populations around the globe due to an unhealthy lifestyle and lack of physical exercise is expected to propel the market growth of fitness equipment. According to the World Health Organization, in 2016, more than 1.9 billion adults, 18 years and older, were overweight. Of these over 650 million were obese. Also, a growing number of a fitness service provider such as a gym and health club that offer various packages and discounts is again estimated to foster the market growth of fitness equipment.

On basis of the region, Europe region dominated the global fitness equipment market, in 2018, accounting for 38% share in terms of revenue, followed by North America and Asia Pacific respectively.

Market Restraints

Rising awareness regarding the exercises that require less use of equipment is estimated to restrict market growth over the forecast period. Exercises such as Pilates, yoga, dancing, and aerobics require minimal use of fitness equipment, therefore, fitness clubs are using less equipment and are providing more and more open spaces for exercise. This factor is anticipated to restrict the market growth of the fitness equipment market over the forecast period.

Market Opportunities

Increasing installation of a fitness facility in the corporate world is anticipated to offer potential growth opportunities to the market of fitness equipment. In the Asia-pacific region, most MNCs are offering employees to use fitness clubs on the premises and motivate them for regular exercise. Furthermore, such companies also provide free fitness training to employees. Therefore, the rising inclusion of a fitness club in the corporate world is projected to foster the market growth of fitness equipment.

Market Trends

The growing trend of exercising at home due to a busy and hectic lifestyle is expected to augment the market growth of fitness equipment. � According to Europe Active, which is a non-profit organization formerly known as the European Health and Fitness Association (EHFA), states that over 30% of people in Europe exercise at home to save time. Hence, this ongoing trend of exercising at home will favor the market growth of fitness equipment over the forecast timeframe.

Competitive Section

Key players operating in global fitness equipment market includes Brunswick Corp., Technogym SpA, Nautilus, Inc., Amer Sports Oyj, Johnson Health Tech Co. Ltd., ICON Health & Fitness, Inc., TRUE Fitness Technology, Inc., SportsArt Fitness, Inc., Iron Grip Barbell Company, and Adidas AG.

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