Global Fitness Equipment Market 2022-2027:
Dublin, May 20, 2022 (GLOBE NEWSWIRE) — The “Fitness Equipment – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global fitness equipment market to reach $19.4 billion by 2027
Amid the COVID-19 crisis, the global fitness equipment market estimated at US$13.5 billion in 2020 is expected to reach a revised size of US$19.4 billion by 2027, with growth at a CAGR of 5.3% over the analysis period 2020 -2027. Cardiovascular training, one of the segments analyzed in the report, is expected to register a CAGR of 5.7% and reach US$11 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and the induced economic crisis, the growth of the bodybuilding segment is readjusted to a revised CAGR of 5% for the next 7-year period.
The US market is estimated at $4.5 billion, while China is expected to grow at a CAGR of 7.3%
The fitness equipment market in the United States is estimated to be worth US$4.5 billion in 2020. China, the world’s second largest economy, is expected to reach a projected market size of US$3.2 billion by 2027, with a CAGR of 7.3% over the analysis period 2020 to 2027. Other notable geographies include Japan and Canada, each forecasting growth of 3.9% and 4.5% respectively over the period 2020-2027. In Europe, Germany is expected to grow around 4.5% CAGR.
Other Equipment Type Segment to Register CAGR of 4.2%
In the global other types of equipment segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 3.9% for this segment. These regional markets representing a combined market size of US$652.7 million in 2020 will reach a projected size of US$852 million by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$2.5 billion by 2027, while Latin America will grow at a CAGR of 5.4% over the analysis period.
Main topics covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Overview of the influencer market
- Global Market Trajectories
- Impact of Covid-19 and a looming global recession
- Impact on the fitness industry
- Demand for Home Fitness Equipment Soars Amid COVID-19 Pandemic
- Changes in people’s fitness routine as a result of COVID-19
- Commercial fitness equipment takes a hit as gyms struggle
- UK gym and fitness club memberships in millions (2014:2020E)
- Fitness Equipment – Percentage Market Share of Global Top Competitors in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)
- Fitness equipment: a prelude
- Types of equipment
- Growth drivers in a nutshell
- Main Factors Hindering Growth
- Analysis by segment
- Developing Countries: Focal Point for Current and Future Market Growth
- Recent market activity
- Global brands
2. FOCUS ON SELECT PLAYERS (Total 97 Featured)
- Amer Sports Corporation
- Precor Incorporated
- BFT Fitness Co., Ltd.
- Body-Solid, Inc.
- Cybex International, Inc.
- LifeFitness, Inc.
- Dyaco International Inc.
- Heart rate inc.
- ICON Health & Fitness, Inc.
- Johnson Health Tech Co., Ltd.
- Nautilus, Inc.
- Reebok International Ltd.
- SportsArt Fitness, Inc.
- Star Trac Health & Fitness, Inc.
- Technogym SpA
- Total Gym Global Corp.
- TRUE Fitness Technology, Inc.
- Tunturi New Fitness B.V.
- YANRE Fitness Equipment Co.,Ltd.
3. MARKET TRENDS AND DRIVERS
- The Covid-19 pandemic boosts connected fitness
- Advanced Equipment Offers Futuristic Workouts
- Technology is disrupting the fitness regime
- Personalization and immersive experience gain space as boutique health clubs spring up
- Technology to the rescue of treadmills
- Summary of key trends in the health, wellness and fitness industry
- Health and fitness clubs: a major market for fitness equipment
- Considerations When Selecting Commercial Fitness Equipment
- Recovery in gyms and health clubs to enhance growth
- Number of health and fitness clubs worldwide (thousands): 2011: 2025
- Bodybuilders remain the main customer group for commercial equipment
- Home fitness equipment: a growing market
- Top Trends Easing the Transition to Home Workouts
- Focus on preventative health care to fuel demand for home fitness equipment
- Increase in adoption of elliptical trainers for home use
- The growing importance of exercise bikes as an effective fitness solution for the demand for cardiovascular health
- Growing Market Prospects for Overweight and Obese Populations
- BMI Classification
- Global obesity epidemic: percentage of overweight, obese and severely obese adults for 2014 and 2025
- Average annual health expenditure per capita (in US dollars) due to obesity
- The increasing participation of women in sports and fitness due to increased purchasing power is driving sales
- Growing interest in home gym exercises among women
- Major sporting events support sales growth
- Muscle building equipment is gaining popularity among young people
- Cardio equipment trumps weights
- Elliptical Trainers: Offer Advantages Over Treadmills
- Trends toward group exercise drive market expansion
- Integration of technology in fitness equipment for the visually impaired bodes well for the market
- Emerging technologies, advanced software and custom solutions for specialized training are driving demand from the military sector
- Favorable demographic and macroeconomic trends bolster the market outlook
- Growing need to maintain physical activity among the aging population: an important driver of growth
- World population aging statistics for the 65+ age group in millions by geographic region for the years 2019, 2025, 2035 and 2050
- Exponential increase in urban population
- World urban population in thousands: 1950-2050
- Percentage of urban population in selected countries for 2018, 2020, 2030, 2040 and 2050
- Increase in affluence of burgeoning middle class population
- Global middle class population (millions) and percentage of total population: 2005, 2015, 2025 and 2035
- Global middle class spending (in billions of US dollars) by geographic region
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
- Total number of companies profiled: 97
For more information on this report, visit https://www.researchandmarkets.com/r/v27aff