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Fitness Equipment Market - US$14 Billion Revenue by 2024

Global Market Insights,Inc.
Posted on: 21 Dec 17
Fitness Equipment Market - US$14 Billion Revenue by 2024 Home Fitness Equipment Market segment will witness 5%+ growth to 2024 as it boosts privacy, reduce distractions, provide freedom to the consumer to use equipment of their choice, and eliminates the inconvenience of commuting to a gym to use the machines which can be highly cost effective in the long run.

PR Newswire

SELLBYVILLE, Del., Dec. 20, 2017

SELLBYVILLE, Del., Dec. 20, 2017 /PRNewswire-iReach/ -- Global Fitness Equipment Market will be valued USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising health initiatives and programs to combat the increasing instances of weight-related diseases is a major factor driving the fitness equipment market growth.

The Australian government, for instance, promotes healthy eating habits and provides free gym memberships to the general population to combat diabetes and heart related diseases. Approximately 38% of the adult population in the U.S suffers from obesity and the instances of childhood obesity is rapidly increasing. The disease can lead to an increased chance of cancer, cardiovascular illnesses, childbirth problems, and asthma.

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Rapid industrialization and urbanization, primarily in countries such as India and China, has led to an increase in pollution and the working population leading to a high-stress, sedentary lifestyle. Various gyms and health centers are providing customized programs and discount packages to their client base, further propelling the fitness equipment market size.

Adoption of advanced technologies such as wearables, software tracking apps, and connected devices is revolutionizing the fitness equipment market. The penetration of smartphones and the internet connectivity across the world has led to the advent of personal AI trainers and mobile trackers that can monitor body movement. Corporate wellness programs are anticipated to exhibit a high growth during the forecast timespan. Organizations having strong financial resources, such as Verizon, Google, and Fitbit, are constructing on-site gyms that are available 24*7 and have dedicated trainers. The Indian government, for instance, has issued orders for setting up gyms in every department to relieve the stress levels of ministers and officials.

The cardiovascular equipment market is anticipated to dominate globally with approximately 5% CAGR from 2017 to 2024. Modern cardiovascular devices are equipped with body vital trackers and software apps that can be connected to the consumers' smartphones or handheld devices. Furthermore, the high emphasis on weight-loss and leaner body figure is escalating the fitness equipment market demand.

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The home fitness equipment market segment is projected to experience high growth over the forecast timespan. Home gyms boost privacy, eliminate the inconvenience of commuting, and are cost effective in the long run. Furthermore, consumers are more likely to purchase cardiovascular equipment as they are durable and provide more functionality to the user.

Rising disposable income of the middle-class population is a major factor propelling the growth of the Asia Pacific fitness equipment market. Additionally, an increasing number of organizations are identifying the benefits of providing corporate wellness programs to their employee base. Government initiatives to improve the health of the citizens is creating growth opportunities for the industry.

Players operating in the global fitness equipment market include Brunswick Corporation, Amer Sports, HOIST Fitness Systems, Nautilus, Inc., Torque Fitness, True Fitness, etc. The industry is characterized by many new entrants investing heavily in the development of this technology, primarily small strength training equipment such as free weights. The industry is moving towards consolidation, with a number of mergers and acquisitions seen in the past few years; for instance, the acquisition of LeMond by HOIST systems to expand their product offerings.

Browse key industry insights spread across 132 pages with 117 market data tables & 24 figures & charts from the report, "Fitness Equipment Market Size By Equipment (Cardiovascular, Strength Training), By End-Use (Home, Health Clubs, Office, Hotel), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, France, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/fitness-equipment-market-report

Chapter 3   Fitness Equipment Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2012- 2024

3.3   Industry ecosystem analysis

3.3.1   Distribution channel of fitness equipment manufacturers

3.3.1.1   Independent authorized dealers

3.3.1.2   Domestic & international distributor

3.3.1.3   E-commerce

3.3.1.4   Teleshopping

3.3.1.5   Direct Sales

3.3.2   Vendor Landscape

3.4   Regulatory landscape

3.4.1   Active Standard ASTM F2276

3.4.2   FDA Regulation of Health and Fitness Equipment

3.4.3   European Directives and Standards

3.5   Technology & innovation landscape

3.5.1   Wearable and Smart Technology

3.5.2   Digital Connectivity

3.6   Industry impact forces

3.6.1   Growth drivers

3.6.1.1   Growing health and fitness consciousness in North America

3.6.1.2   Increasing corporate wellness programs and cross industry demand in North America

3.6.1.3   Government healthcare initiatives and increasing geriatric population in Europe

3.6.1.4   Increase in chronic diseases in Asia Pacific

3.6.1.5   Rise in disposable income in Asia Pacific

3.6.2   Industry pitfalls and challenges

3.6.2.1   High cost of the equipment

3.6.2.2   Growth of used fitness equipment market

3.7   Growth potential analysis

3.8   Porter's analysis

3.9   Competitive landscape

3.10    PESTEL analysis

Browse Full TOC @ https://www.gminsights.com/toc/detail/fitness-equipment-market-report

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, sales@gminsights.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

 

SOURCE Global Market Insights, Inc.

PR Newswire
www.prnewswire.com

Last updated on: 21/12/2017

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