Press release
Lateral Fitness Equipment Market is Expected to See Growth Rate of 10.1% during Forecast Period | Allied Market Research
Rise of gym culture, penetration of international brands, and surge in awareness regarding health and fitness worldwide drive the growth of the global lateral fitness equipment market. However, availability of counterfeit products and expensive nature of equipment restrain the market growth. On the other hand, adoption of innovative social media marketing strategies and emergence of smart fitness equipment present new pathways in the coming years.
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Based on product type, the treadmill segment contributed to the highest market share in 2019, accounting for nearly two-fifths of the global lateral fitness equipment market, and is expected to maintain its dominant share throughout the forecast period. This is attributed to rise in obese population along with inclusion of latest technologies such as Bluetooth connectivity, Wi-Fi connectivity, and iFit technology along with smart touch screen display.
However, the elliptical segment is expected to maintain the highest CAGR of 11.5% from 2020 to 2027, owing to implementation of features such as color enabled display, improved resistance in flywheel, and multi-position intensity and ability to provide a non-impact cardiovascular workout.
Based on end user, the health club/gym segment accounted for around two-fifths of the global lateral fitness equipment market in 2019, and is projected to continue to dominate during the forecast period.
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This is due to availability of cardiovascular and strength training exercises along with rise in health awareness among the population. However, the corporate office segment would grow at the fastest CAGR of 13.1% from 2020 to 2027, owing to set up of fitness centers and offer fitness programs in organizations to improve the health of employees and raise their productivity.
Based on region, North America accounted for nearly two-fifths of the global lateral fitness equipment market in 2019, and is estimated to continue its lead position by 2027. This is attributed to surge in obesity rates, increase in health consciousness, and awareness of benefits provided by lateral fitness equipment. However, Asia-Pacific is expected to portray the highest CAGR of 12.8% from 2020 to 2027, owing to increase in digital advertisements by owners and rise in usage of training equipment including stationary cycles, treadmill, and elliptical among the youth population.
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The key players operating in the lateral fitness equipment market analysis includeICON Health Fitness, Inc., Johnson Health Tech Co., Ltd., TECHNOGYM S.P.A., Amer Sports Corporation, Nautilus, Inc., Core Health Fitness, LLC., True Fitness Technology, Inc., Impulse (Qingdao) Health Tech Ltd. Co., and Cybex International Inc.
FREQUENTLY ASKED QUESTIONS?
Q1. At what CAGR, the global lateral fitness equipment market will expand from 2020 - 2027?
Q2. What will be the market value of global lateral fitness equipment market by the end of 2027?
Q3. Which are the top impacting factors of lateral fitness equipment market growth?
Q4. Who are the leading players in lateral fitness equipment market?
Q5. What are the segments of lateral fitness equipment market?
TRENDING REPORTS :-
At-Home Fitness Equipment Market to Garner $11.45 Billion by 2027: Allied Market Research
https://www.globenewswire.com/en/news-release/2021/06/17/2248611/0/en/At-Home-Fitness-Equipment-Market-to-Garner-11-45-Billion-by-2027-Allied-Market-Research.html
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Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success.
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