Health Tools Market Share, Demand, Prime Gamers and Future Progress | elevated demand for house health gear
North America is dominant in terms of fitness equipment market share and is expected to maintain its dominance over the forecast period
PORTLAND, 5933 NE, WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, Sept. 20, 2022 /EINPresswire.com/ — “Increasing public health concerns amid the COVID-19 pandemic are driving the market expansion, but the industry is are facing major challenges due to the high cost of fitness equipment.” According to a new report released by Allied Market Research, titled “Fitness Equipment Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021-2028,” the fitness equipment market has been Estimated to reach $11.6 billion in 2020 and is forecast to reach $14.8 billion by 2028, at a CAGR of 3.3% from 2021 to 2028
Fitness equipment is widely used for physical fitness, weight management, and improving physical endurance and muscle strength. The most commonly used fitness equipment are treadmills, stationary bikes, stair climbers, and weight lifters. Rising awareness of health and fitness, increase in obese population, government initiatives to promote healthy lifestyle and increase in youth are the main factors driving the growth of the global fitness equipment market. However, counterfeiting of fitness equipment is a key inhibiting factor for the market. On the contrary, the rise in youth population, improved lifestyles and increase in disposable income of individuals in the developing world should offer immense opportunities to market participants.
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An alarming rise in global obesity, particularly in urban areas, is complementing the growth of the fitness equipment industry. According to the WHO, the number of overweight people worldwide has increased at a stunning rate. In 2020, 39% of adults aged 18 and over worldwide were overweight and 13% were obese. Obesity is associated with a number of health problems or disorders such as sudden cardiac arrest, high blood pressure, hypotension and diabetes. Therefore, in order to lose weight, reduce stress and improve blood circulation, obese people tend to use more fitness equipment. Fitness Equipment Market Trends such as Self-Care for Health and Virtual Fitness Training Units are the key growth pillars to support sales of these products.
The fitness equipment market is segmented by type, end user, and region. According to the Type, the Fitness Equipment Market analysis is categorized into Cardiovascular Exercise Equipment, Strength Training Equipment, and Other Equipment. The cardiovascular exercise equipment segment is divided into treadmills, elliptical trainers, stationary bikes, rowing machines, and others. By end users, the market is segmented into home users, health clubs/gyms and other commercial users.
Key Findings of the Study
By region, North America is dominating in terms of the fitness equipment market share and is expected to maintain its dominance over the forecast period.
By type, the cardiovascular exercise equipment segment led in terms of market share and is expected to gain market share in the coming years
By end users, the home consumer segment accounted for more than 60% of the growth of the fitness equipment market in 2020 due to the enforcement of social distancing and the closure of gyms during the COVID-19 pandemic. However, the fitness club/gym segment is poised to grow at the highest CAGR during the fitness equipment market forecast period of 2021-2028.
By end users, the gym/gym segment is expected to gain market share in the coming years, growing at a CAGR of 6.4% over the forecast period.
By region, Asia Pacific is expected to grow at a robust CAGR of 5.7% over the forecast period.
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Some of the Major Players covered in Fitness Equipment Market Analysis are ICON Health & Fitness, Inc., Johnson Health Tech Co., Ltd., Anta Sports, Technogym SpA, Peloton, Nautilus, Inc., Core Health and Fitness, LLC, TRUE Fitness Technology, Inc., Impulse (Qingdao) Health Tech Co., Ltd. and Torque Fitness, LLC.
The research provides answers to the following key questions:
1️⃣ What is the estimated growth rate of the market for the forecast period 2021-2028?
2️⃣ What will be the market size in the estimated period?
3️⃣ What are the major driving forces shaping the fate of the fitness equipment market during the forecast period?
4️⃣ Who are the major market vendors and what are the winning strategies that have helped them break into the Fitness Equipment market?
5️⃣ What are the major market trends influencing the development of the Fitness Equipment Market across different regions?
6️⃣ What are the top threats and challenges that are likely to impede the growth of the fitness equipment market?
7️⃣ What big opportunities can the market leaders rely on to achieve success and profitability?
Reason for purchase:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Fitness Equipment Market.
✅ Highlights key business priorities to guide companies in reforming their business strategies and establishing themselves in the wider region.
✅ Key findings and recommendations highlight crucial progressive industry trends in the Fitness Equipment Market, thereby allowing players to develop effective long term strategies to garner their market revenues.
✅ Develop/modify business expansion plans by taking advantage of a significant growth offering for both developed and emerging markets.
✅ Examine in-depth global market trends and outlook associated with the factors driving the market as well as those restraining its growth to some extent.
✅ Improve the decision-making process by understanding the strategies driving commercial interest across products, segmentation and industry verticals.
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Allied Analytics LLP
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Sep 20, 2022 at 4:08 p.m
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