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Fitness Equipments Market On the Rise by 2020
Fitness Equipments Market
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On the basis of end user application of the fitness equipment the overall market can be segmented in two broad categories namely domestic and institutional (such as fitness gym, health clubs, and community centers).
On the basis of the product segment the overall market of fitness equipment can be segmented into four broad categories namely cardiovascular (treadmills, stationary bicycles, stair climbers, elliptical machines, and cross-country ski simulators), resistance (band or pulley-type system to lift weights), free weight and others (such as passive exercise machines). Among these Cardiovascular holds the majority of market share in global fitness equipment market. Treadmills are one of the most commonly found fitness equipment preferred by joggers and runners of all age group who wants to experience outdoor workouts in their home interiors. Treadmills hold single largest market share among all type of fitness equipments.
Increasing life style diseases, increasing obese population, escalating health care costs and aging population in Europe and North America is driving the market for fitness equipment in western countries. Whereas escalating urbanization, westernization, changing lifestyle and increasing disposable income of middle class in developing countries of Asia Pacific and Middle East has kept the growth comparatively high over the years.
Moreover rising numbers of fitness clubs, innovation in the field of user friendly equipment, such as development of modern equipment to support additional fitness modalities are expected to boost the global fitness equipment market in upcoming years. However, high cost of raw materials and high dependency over distributors are acting as major challenges for the industry.
North America is the largest market for fitness equipment market followed by Europe and Asia Pacific. Increased domestic fitness equipments such as treadmills in North America and Europe are driving the overall growth of the fitness equipment market in this region. Whereas increasing number of institutional heath care center, gyms and health club is driving the market in Asia Pacific region.
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The major companies operating in global fitness equipment market include Cybex International Inc, Nautilus Inc, Precor incorporated, ICON Health & Fitness Inc, Brunswick Corporation (Life Fitness), Johnson Health Tech. Co., Ltd, Nautilus, Inc.
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