Outdoor Fitness Equipment Market by Product Type (Action Series, Heavy Duty Series, Regular Series), by Application (Public Facility, Fitness Park and Trails, Government Fitness Centers, Outdoor Gyms, Other): Global Opportunity Analysis and Industry Forecast, 2020-2030.
Drivers, limitations and opportunities
The rise in the occurrence of obesity, the development of new equipment to enhance the exercise experience, and the increasing trend towards open gyms and fitness centers are driving the growth of the global outdoor fitness equipment market. However, the propensity to purchase home fitness equipment and the expensive nature of outdoor equipment are restraining the market growth. On the other hand, the launch of equipment that offers dual exercise options offers opportunities in the years to come.’
Increased consumer awareness has forced them to delve into fitness, which in turn has increased demand for indoor and outdoor fitness equipment. In addition, governments of different countries are taking initiatives to build outdoor fitness centers for their citizens and motivate them to engage in fitness. These government-taken initiatives are expected to increase sales of outdoor fitness products, thereby boosting the growth of the overall fitness equipment industry.
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Covid-19 scenario
The gyms and outdoor fitness centers have been closed due to lockdown restrictions during the Covid-19 pandemic to avoid the possibility of cross-contamination. This reduced demand for outdoor fitness equipment in the early days of the pandemic.
Additionally, economic uncertainty caused plans to open new outdoor fitness centers and gyms to be postponed. This affected the demand for equipment.
However, post-pandemic demand is expected to pick up as outdoor gyms and fitness centers open and new centers open.
The Action Series segment is projected to maintain its leadership status during the forecast period
Based on product type, the action series segment accounted for the highest market share, accounting for almost half of the global outdoor fitness equipment market, in 2020 and is expected to maintain its leading position during the forecast period. This is due to the increasing use by global consumers to exercise and stay fit on a daily basis. However, the high-performance series segment is expected to show the highest CAGR of 5.4% from 2021 to 2030 due to increasing use for bodybuilding purposes.
The outdoor gyms segment is said to offer lucrative opportunities
Based on application, the outdoor gym segment held the highest market share in 2020, accounting for more than a quarter of the global outdoor fitness equipment market and is expected to maintain its leading position during the forecast period. This is due to the propensity of a large group of consumers to visit outdoor gyms for workouts and exercise. The report also analyzes segments such as public facilities, fitness parks and trails, government fitness centers, and others.
North America aims to maintain its sales dominance through 2030
Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for approximately one-third of the global outdoor fitness equipment market and is expected to maintain its dominance in terms of revenue through 2030 . This is due to raising awareness of fitness in countries like the US, Canada and Mexico. However, Asia-Pacific is forecast to exhibit the fastest CAGR of 5.8% over the forecast period. This is attributed to increased interest in performing different types of exercise and increased focus on maintaining fitness.
Main result of the study
On the basis of product type, the Action Series segment is forecast to register the highest CAGR of 3.6% in terms of revenue during the forecast period for the Outdoor Fitness Equipment Market.
According to the Outdoor Fitness Equipment Market Analysis, the fitness parks and trails segment is expected to grow at a significant CAGR over the forecast period depending on the application.
The US was the largest country in terms of revenue generation for the outdoor fitness equipment industry in 2020.
In terms of region, Asia Pacific is projected to have the highest growth rate at a CAGR of 5.8% from 2021 to 2030.
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Leading Market Players
Company A/S
Landscape Structures, Inc.
Outdoor Fitness, Inc.
PlayCore, Inc.
Proludic Ltd.
SportsPlay Equipment, Inc.
Stayfit Health and Fitness World Private Limited
The Great Outdoor Gym Company Ltd.
Wicksteed Leisure Ltd.
Xcent, Inc.
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