KSA Fitness Equipment Market Size and Research 2022, CAGR Status, Growth Analysis by Countries, Development Factors, Business Updates and Strategies till 2026: Ken Research

KSA fitness equipment market was valued at USD ~XX million in 2021, expanding at a CAGR of XX% in between 2016 and 2021 on the basis of revenue generated through sales of fitness equipment with considerable expansion in commercial fitness centers in which popular fitness centers and women centric fitness club dominated the market. Government initiatives to launch women centric fitness centers in 2017 along with "Your Home, Your Gym" and "Quality of Life" campaign to improve physical conditions of people coupled with rising health concerns such as obesity, diabetes and cardiovascular diseases due to unhealthy lifestyle, inclination of consumers to undertake online fitness sessions to enjoy exercising in the comfort of their homes and as per their convenience are the major determinant to drive the growth of fitness equipment industry. Surging demand of fitness equipment suitable for home/residential purposes post COVID-19 is also contributing in the growth of fitness equipment market.

KSA Fitness Equipment Market Outlook to 2026: Driven by the growing demand of advanced fitness equipment by fitness clubs and government initiative to launch women centric fitness centres

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In 2020, fitness equipment industry experienced a temporary downfall owing to the impact of COVID-19 on industry leading to closure of the fitness centers and health clubs due to country wide lockdown. With mandatory protocol such as to avoid physical contact and maintenance of social distancing to prevent the transmission of virus restrained a major chunk of population from availing fitness services in fitness centers and health clubs. These factors have however led to increased demand of home-based fitness equipment and adaptation to digital fitness services, as people preferred to follow fitness regimes at their home to ensure safety. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer's preference towards availing digitally connected solutions for their fitness routine.

Majority of the fitness equipment imported in KSA in 2020 were from China, USA and Taipei; with China contributing to majority share of XX% of the overall imports in 2020 on the basis of revenue generated. Revenue generated through import of fitness equipment was valued at USD XX million in 2020; the higher share of import is attributed to the growing demand of high end fitness equipment produced in other nations. The lack of ability of local manufacturer's in KSA to produce high tech fitness equipment negatively impacted the international demand of fitness equipment produced in KSA.

Saudi Arabia Fitness Equipment Market Growth & Segmentation, 2021

By Type of End User: Commercial fitness centres accounted for the highest market share of XX% among all other types of end users on the basis of revenue generated in the year 2021. Popular fitness clubs under the category of commercial fitness centres dominated the sector. Private fitness centres and health clubs accounted the second highest share.

By Type of Customer: Sales of fitness equipment through B2B channel accounted for the highest share of XX% on the basis of revenue in 2021, attributed to the surging establishments of commercial and hotel-based fitness centres demanding advanced fitness equipment followed by B2C channel which has low penetration in the market.

By Foreign and Domestic Manufacturing: Foreign fitness equipment accounted for the highest market share of XX% as compared to the locally manufactured (domestic) fitness equipment on the basis of revenue generated in 2021. Lack of domestic manufacturer's ability to produce advanced fitness equipment leads to the increased demand of fitness equipment from foreign counties such as China, USA and Italy among others.

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Fitness Equipment Importing and Exporting Companies in KSA

The report highlights brief overview of major companies engaging in import and export of fitness equipment in KSA on the basis of Number of Products or Services Categories Traded, Number of Employees, Region and on the basis of City.

Fitness Equipment Import and Export Scenario, by Country 2016-2020

Majority of the fitness equipment imported in KSA in 2020 were from China, USA and Taipei; with China contributing to majority share of XX% of the overall imports in 2020 on the basis of revenue generated. Revenue generated through import of fitness equipment was valued at USD XX million in 2020; the higher share of import is attributed to the growing demand of high end fitness equipment produced in other nations. The lack of ability of local manufacturer's in KSA to produce high tech fitness equipment negatively impacted the international demand of fitness equipment produced in KSA.

Competitive Landscape of KSA Fitness Equipment Market, 2021

KSA fitness equipment market is concentrated among 10-15 players. Delta Fitness captured the highest market share in terms of revenue generated through the sales of fitness equipment in 2021. Fitness equipment distributors in KSA compete on the basis of quality of fitness equipment products, wide range of equipment they offer and pricing of these products. One of the major competition parameter is the collaboration and partnerships that the distributors maintain with their clients namely, fitness clubs, fitness centers, hotels, resorts and universities. However, from the production side of fitness equipment, the domestic manufacturer's in KSA has not been able to develop advanced fitness equipment that are demanded at fitness facilities. Due to which, revenue generated through the imports of fitness equipment captured the majority share of XX% in 2021 compared to domestic sales. Majority of the fitness equipment imported in KSA in 2020 were from China, USA and Taipei; with China contributing to majority share of XX% of the overall imports in 2020 on the basis of revenue generated. In coming years, the demand for domestically produced fitness equipment would rely on the ability of these manufactures to deliver high quality advanced fitness products.

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Further, a notable shift in consumer preference post COVID-19 has contributed in the emergence of digital fitness services. Home based fitness equipment are heavily demanded in recent times as people prefer to regularly participate in physical and fitness activities at the comfort of their home thereby, reducing the risk of physical contacts at public fitness facilities. Surging demand of home based fitness equipment will act as a catalyst for the growth in fitness equipment industry in coming years. Therefore, fitness equipment players in KSA must cater to the rising demand of home based fitness equipment in order to integrate the market.

Future Outlook of KSA Fitness Equipment Market, 2021-2026

Fitness equipment market is expected to expand at a five-year CAGR of ~XX% in between 2021 and 2026 on the basis of revenue generated. It is anticipated that fitness equipment industry will grow at a substantial rate owing to factors such as the rising health concerns among population suffering from non-communicable diseases namely, obesity and chronic diseases due to unhealthy lifestyle, establishment of organized fitness centers with diversified services along with various government initiatives such as "Quality of Life" and "Your Home, Your Gym campaign" to encourage people to regularly engage themselves in physical and fitness activities. Coupled with that, determinants such as launch and expansion of nearly 163 hotel and resort project such as Hyatt and Radisson by the end of 2030 as envisaged, will also contribute in the increased demand of fitness equipment at these facilities. The market is poised to gain significant traction with the rise in the number of women centric health clubs and fitness centers incorporating advanced equipment catering to the changing health patterns and consumer demands. On the other hand, high set up or installation cost of devices or equipment and rising demand for resale of used fitness equipment for saving cost are estimated to obstruct the market's growth within the above-mentioned forecast period.

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