Major fitness equipment market players include Nautilus Inc., Technogym S.p.A, Johnson Health Tech, Icon Health & Fitness, Brunswick Corporation, and Amer Sports Corporation.
SELBYVILLE, Del., April 8, 2020 /PRNewswire/ -- According to latest report "Fitness Equipment Market by Equipment (Cardiovascular [Elliptical Machines, Treadmills, Exercise Bikes, Climbers], Strength Training [Weightlifting, Weights, Barbells & Ladders, Extension Machines, Power Racks]), End Use (Home, Health Clubs, Office, Hotel), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of fitness equipment will cross $15 billion by 2026. Rise in the number of gyms and fitness centers coupled with technological advancements in the fitness sector will boost the market growth.
The cardiovascular equipment is projected to gain prominence due to several health benefits offered by the equipment. Rise in health concerns due to sedentary lifestyles coupled with mounting stress related issues are driving the fitness equipment market demand.
Exercise bikes improve the cardio-respiratory capacity and boost muscle strengthening while climbers facilitate weight loss and muscle toning. Players are introducing a variety of indoor as well as outdoor exercise bikes with touch screen consoles for an enhanced workout experience.
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Rise in the number of health clubs and gyms will influence the fitness equipment market revenue globally. Health clubs are focusing on providing enhanced workout experiences by providing personalized and customized workouts.
Several countries in Europe are witnessing a sharp rise in the number of health club memberships. In Switzerland, health insurers provide subsidies to individuals paying for health club memberships. The rise in the number of fitness centers can also be attributed to several government organizations stressing on the importance of health and well-being.
Asia Pacific fitness equipment market is anticipated to witness a rise from countries including Japan and China. The advanced electronics sector in these countries supplement the development of wearable technologies using advanced sensors. Japan industry is also set to register high gains due to several companies looking forward to expanding their market presence in the region.
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Some major findings of the fitness equipment market report are:
- The connected fitness equipment market is gaining traction over the recent years and is poised to grow rapidly over the forecast timespan. Technology providers collaborating with fitness equipment manufacturers to offer enhanced fitness solutions forms a key trend in the industry.
- Rise in the number of health club memberships in Germany, Austria, and Sweden will boost the industry growth.
- The presence of large technology providers in the U.S. will support the connected fitness market in the region.
- Industry players are focusing on launching new enhanced fitness equipment to strengthen their product portfolio. They are expanding their market presence through strategic initiatives such as partnerships and acquisitions.
- Fitness equipment market is competitive due to the presence of several manufacturers investing in R&D to launch new products. Players are also focusing on expanding their product landscape and market reach by acquiring other brands.
- Major companies operating in the market include Nautilus Inc., Technogym S.p.A, Johnson Health Tech, Icon Health & Fitness, Brunswick Corporation, and Amer Sports Corporation.
Table of Contents (ToC) of the report:
Chapter 3. Fitness Equipment Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Impact of the Coronavirus (COVID-19) pandemic
3.4. Industry ecosystem analysis
3.4.1. Distribution channel analysis
188.8.131.52. Independent authorized dealers
184.108.40.206. Domestic & international distributor
220.127.116.11. Direct sales
3.4.2. Vendor matrix
3.5. Technology & innovation landscape
3.5.1. Wearable and smart technology
3.5.2. Digital connectivity
3.6. Regulatory landscape
3.6.1. Active Standard ASTM F2276
3.6.2. FDA Regulation of Health and Fitness Equipment
3.6.3. European Directives and Standards
3.7. Impact forces
3.7.1. Growth drivers
3.7.2. Industry pitfalls and challenges
3.8. Growth potential analysis
3.9. Price trend analysis, 2015 – 2026
3.10. Porter's analysis
3.11. Competitive landscape, 2019
3.11.1. Company market share analysis
18.104.22.168. North America
22.214.171.124. Asia Pacific
126.96.36.199. Latin America
3.11.2. Strategy dashboard
3.12. PESTEL analysis
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About Global Market Insights, Inc.
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.
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Global Fitness Equipment Market shipments to hit 14 million units by 2026: GMI
The Europe fitness equipment market will observe exponential gains during the forecast period due to sharp rise in the number of health club memberships across the region.
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SOURCE Global Market Insights, Inc.