Fitness Equipment Market Expected to Reach $14.8 Billion by 2028

"Increase in concerns over health amid COVID-19 pandemic is driving the market expansion, however, the industry is facing significant challenges due to high cost of fitness equipment."

According to a new report published by Allied Market Research, titled, "Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021-2028," the Fitness Equipment market was valued at $11.6 billion in 2020, and is projected reach $14.8 billion by 2028, registering a CAGR of 3.3% from 2021 to 2028

Fitness equipment are widely used for physical fitness, weight management, and improving body stamina & muscular strength. The commonly used fitness equipment are treadmills, stationary bicycles, stair climbers, and weightlifting machines. Rise in awareness regarding health & fitness, increase in obese population, government initiatives to promote healthy lifestyle, and increase in youth population are the major factors that drive the growth of the global fitness equipment market size.

Request For Sample :- https://www.alliedmarketresearch.com/request-sample/644

However, counterfeiting of fitness equipment is a key restraining factor of the market. On the contrary, upsurge in youth population, improved lifestyle, and rise in disposable income of individual in developing countries are anticipated to offer immense opportunities for the market players.

An alarming rise in global obesity, especially in urban areas, supplements the growth of the fitness equipment industry. According to the WHO, there has been a startling increase in the number of obese people worldwide. In 2020, world's 39% of adults aged 18 years and above were overweight and 13% were obese. Obesity is associated to a number of health issues or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress, and improve blood circulation, obese people tend to use more of fitness equipment. Fitness equipment market trends such as self-care for health and virtual fitness training sessions are the major growth pillars to support the sales for these products.

The fitness equipment market is segmented into type, end user, and region. Depending on type, the fitness equipment market analysis is categorized into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment segment is bifurcated into treadmill, elliptical, stationary bike, rowing machine, and others. By end user, the market segregated into home consumer, health club/gym, and other commercial user.

Get detailed COVID-19 impact analysis on the Fitness Equipment Market :- https://www.alliedmarketresearch.com/request-for-customization/644?reqfor=covid

Key Findings Of The Study

By region, North America dominates in terms of fitness equipment market share and is expected to retain its dominance during the forecast period.
By type, the cardiovascular training equipment segment led in terms of market share, and is expected to gain market share in the upcoming years
By end user, the home consumer segment accounted for more than 60% share of the fitness equipment market growth in 2020, due to imposition of social distancing and gym closures during the COVID-19 pandemic. However, the health club/gym segment is poised to grow at highest CAGR during the fitness equipment market forecast period from 2021 to 2028.
By end user, the health club/gym segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 6.4% during the forecast period.
By region, Asia-Pacific is anticipated to grow with robust CAGR of 5.7% during the forecast period.

Some of the key players in the fitness equipment market analysis includes :-

ANTA SPORTS PRODUCTS LIMITED
CORE HEALTH & FITNESS, LLC
ICON HEALTH & FITNESS, INC.
IMPULSE HEALTH TECHNOLOGY CO., LTD.
JOHNSON HEALTH TECH. CO., LTD.
NAUTILUS, INC.
PELOTON INTERACTIVE INC.
TECHNOGYM S.P.A.
TORQUE FITNESS, LLC
TRUE FITNESS TECHNOLOGY, INC.

Buy Now :- https://www.alliedmarketresearch.com/checkout-final/297b0c02d9b7c6a9d60c3753b99c6607

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

This release was published on openPR.