Global Fitness Equipment Market: Snapshot
Continuous research into the structure of the human body has paved the way for technological advances and innovations in fitness equipment, accelerating the development of the global fitness equipment market. Technological advances include the incorporation of multiple components into one unit, which also ensures miniaturization. The increasing presence of the internet makes it easier to access training programs and expert opinions. This in turn encourages the growth of the market. However, the high price of these devices limits their wide acceptance.
On the basis of the product, the global Fitness Equipment Market can be divided into Strength Training and Cardiovascular Training. The market will see a sharp surge in demand for weight training fitness equipment in the coming years thanks to rising disposable income and growing youth populations. These devices are used to improve muscle strength and improve personality and appearance. The cardiovascular segment will have a significant market share. Health benefits such as heart rate conditioning, fat burning, metabolic enhancement, and body toning are driving the adoption of cardiovascular fitness equipment.
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Based on the end user, the market can be divided into health clubs and private households. Health clubs will make an important contribution to sales in the forecast period. The competitive advantages of health clubs, such as fitness training and diet plans, lead to increased visitor frequency, which in turn triggers the use of fitness equipment. The growth of the home segment is due to increasing health awareness and busy lifestyle. However, space problems in homes can prevent the segment from realizing its greatest potential.
Fitness Equipment Market: General Overview
According to World Health Organization (WHO) reportAbout three million people die from obesity and its related disorders, including cardiovascular disease, diabetes, stroke, and others. Rising weight-related illnesses have sparked the fitness equipment market. In the recent past, the demand for treadmills, exercise bikes, step machines, free weights, weight lifting equipment, home fitness products, and fitness monitors has increased significantly.
The US has the highest number of overweight people, while Southeast Asia has the lowest obesity rate. It is also worth noting that higher income groups contribute to the obese population in developed countries. Reduced physical activity in young age groups and inactive lifestyles have led to weight-related problems. These factors have put pressure on the government and other institutes to raise awareness about physical fitness.
Fitness Equipment Market:: Including insight
The main target of the fitness equipment market is the younger population, however, significant demand is generated from those falling into the age group. There is also high demand for home fitness products due to the busy and hectic lifestyle of consumers. Exercise bikes and treadmills make a significant contribution to the market. According to statistics from the Fitness Expo, over 15% of the population use a treadmill. Inexpensive, simple features, and wide availability are some of the driving forces behind the treadmill market. Improved technology and advanced ergonomic products have also aided the introduction of home fitness products.
With the advent of fitness monitors that track the number of steps taken, calories burned, and stair climbing, sleep monitors and others have helped keep track of performance on a regular basis. The physical fitness market is also booming due to miniaturized devices, attractive designs, and synchronization with smartphones that act as motivators. Various governments have also taken initiatives to curb obesity by subsidizing gym membership. The increasing importance of physical fitness in school is another driving factor behind the physical fitness equipment market.
Fitness Equipment Market: Regional and Segment Overview
With the availability of drugs in the market and methods such as bariatric surgery, it can be seen that physical fitness is the primary method of maintaining physical health. North America is clearly the leader in the fitness equipment market because of the high obesity rate and higher disposable income for purchasing expensive fitness equipment. In contrast to the fitness-fitness segment, the market for home fitness equipment is growing.
China has the second largest obese population in the world after the US. According to the University of Washington’s Institute for Health Metrics and Evaluation 46 million obese and 300 million Obese people were registered in China.
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Fitness Equipment Market: Key Players
The main players in the fitness equipment market are BodySolid, Cybex International, Inc., Heinz Kettler Group, ICON Health & Fitness, Inc., Keys Fitness Products LP, Life Fitness, Magnum Fitnesssysteme, Paramount Fitness Corp., PowerSport International, Reebok International, Star Trac, Technogym, Nautilus, Inc. and Tunturi OY Ltd. Fitbit, Jawbone, and Nike are the leaders in the fitness monitoring device market.
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