The worldwide health tools market is projected to succeed in $ 14.eight billion by 2028, in response to the AMR
The rising awareness of health and fitness, the rise in the obese population, government initiatives to promote healthy lifestyles, and the rise in youth are the main drivers driving the growth of the global fitness equipment market. In terms of product, the largest share in 2020 was accounted for by the cardiovascular training equipment segment. By region, the market had the highest share in all of North America in the same year.
Portland, OR, Sept. 14, 2021 (GLOBE NEWSWIRE) – The global fitness equipment market was valued at $ 11.6 billion in 2020 and is projected to be $ 14.8 billion by 2028, according to the report released by Allied Market Research – Reaching a CAGR. registered 3.3% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top profit strategies, drivers and opportunities, market size and estimates, competitive scenario and various market trends.
The rising awareness of health and fitness, the rise in the obese population, government initiatives to promote healthy lifestyles, and the rise in youth are the main drivers driving the growth of the global fitness equipment market. On the other hand, counterfeit fitness equipment partially inhibits growth. However, the rise in the youth population, improved lifestyles, and an increase in the disposable income of individuals in developing countries are expected to provide lucrative opportunities in the industry.
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The lockdown in most countries resulted in gym closings, particularly during the early stages of the outbreak. This forced gym goers to shift to home fitness equipment, which in turn had a positive impact on the global fitness equipment market.
Manufacturers and e-commerce platforms are also focusing on more innovative and effective fitness products for home users, which is fueling market growth.
The global fitness equipment market is analyzed by type, end-user and region. Based on the product, the cardiovascular exercise equipment segment accounted for nearly three-fifths of the total market share in 2020 and is expected to dominate by 2028. However, the stationery bike segment would have the fastest CAGR of 4.0% over the entire forecast period.
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On a consumer basis, the home consumer segment contributed around three-fifths of total market revenue in 2020 and is expected to be the leader by 2028. The public sector segment, on the other hand, would have the fastest CAGR of 9.4. show% in the forecast period.
In terms of region, the market in all of North America had the largest share in 2020 and accounted for almost two-fifths of the global market. At the same time, the Asia-Pacific region would have the fastest CAGR of 5.7% over the entire forecast period. The other provinces discussed in the report include Europe and LAMEA.
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Major market players analyzed in global Fitness Equipment Market report include Johnson Health Tech Co., Ltd., Technogym SpA, Peloton, Nautilus, Inc., Core Health and Fitness, LLC, Torque Fitness, LLC., TRUE Fitness Technology , Inc., ICON Health & Fitness, Inc., Anta Sports, Impulse (Qingdao) Health Tech Co., Ltd. These market players have pursued various strategies including partnership, expansion, collaboration, joint ventures, and others to get their grasp on the industry.
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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR has a focused perspective to provide business insights and advice to its clients to make strategic business decisions and achieve sustainable growth in their respective market area.
We have professional business relationships with various companies and this helps us unearth market data which will help us create accurate research data tables and confirm the highest accuracy of our market forecasts. Pawan Kumar., CEO of Allied Market Research is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help customers succeed in every possible way. All of the data presented in the reports we publish are extracted through primary interviews with top officials from leading companies in the domain in question. Our methodology for obtaining secondary data includes in-depth online and offline research and discussions with knowledgeable professionals and industry analysts.
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