According to the report, the global fitness equipment market accounted for around USD 10.00 billion in 2015 and is expected to reach approximately USD 12.50 billion by 2021, growing at a CAGR of around 4.0% between 2016 and 2021.
Fitness deals with the readiness, fit people are well equipped as compared to non-fit people. The fitness levels include all aspects of life and health. It affects physical, mental, and social health. Fitness is the ability of body systems to work efficiently. A fit and healthy person are able to carry out the typical activities of living, such as work, and still, have enough energy and vigor to respond to emergency situations and to enjoy leisure time activities. Fitness includes five important components like flexibility, cardiorespiratory fitness, muscular endurance, muscular strength, and body composition. Fitness is vitally important to health and wellness as well as to the ability to engage in normal activities of daily living. Physical activity and exercise training programs should be designed with the intent of improving each of the key components of health-related physical fitness in addition to preventing chronic disease.
Increasing prevalence of chronic diseases, changing unhealthy population, increasing geriatric population, and rising obese population are major factors responsible for the growth of fitness equipment market. In addition, new emerging innovative advances for cardiovascular fitness equipment are propelling the growth of fitness equipment market. Furthermore, increasing health awareness and demand for fitness equipment are expected to drive the growth of fitness equipment market in the forecast period. In spite of this, the high cost of fitness equipment is majorly affecting the growth of fitness equipment market. However, untapped market and increasing health club number may generate new opportunities in forecast period for fitness equipment market.
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Based on the equipment type, the market of fitness equipment has been classified into cardio-respiratory equipment, muscular equipment, flexibility equipment, body fitness equipment and others. In 2015, cardio-respiratory equipment segment dominated the market of fitness equipment with major market share. In the forecast period, muscular equipment segment is expected to exhibit noticeable growth due to rising awareness of health consciousness. Improved muscular strength and endurance will help us to build better health.
Based on the end user, fitness equipment market has been segmented as the hospital, gym centers/ health club, home care and others. Gym centers segment accounted for the highest share in fitness equipment market with high and increasing demand. In the forecast period, home care segment is expected to generate more opportunities as a result of new challenges like getting out of the home to workout especially during the winter seasons. Thus there are plenty of indoor fitness equipment are available for seniors citizens to stay active.
The fitness equipment market has been segmented on the basis of the region as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Latin America dominated the market with high market share due to increased expenditure on personal care and the majority of gym centers. Asia Pacific is projected to grow at a high market growth rate for fitness equipment market in forecast period as a result of rising healthcare costs, increasing need of skilled gym trainers, focus on improving the quality of healthy life, and technological advancements in fitness equipment.
Key players operating in the fitness equipment market are like Brunswick Corporation, Johnson Health Tech Co. Ltd., Nautilus Strength, Icon Health & Fitness, Amer Sports, Technogym, Precor incorporated and Cybex International Inc.