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Fitness Equipment Market
The fitness equipment industry is continuously developing innovative exercise products for both home use and commercial gym environments.
PORTLAND, UNITED STATES, September 8, 2020 / EINPresswire.com / -- As per the report published by Allied Market Research, the global fitness equipment market was pegged at $11.5 billion in 2019, and is projected to reach $15.2 billion by 2027, growing at a CAGR of 3.5% from 2020 to 2027.
Increase in health consciousness, rise in obese population across the world, and initiatives by government to promote healthy lifestyle drive the growth of the global fitness equipment market. However, high cost of fitness equipment hampers the market growth. On the contrary, rise in disposable income across the emerging countries is expected to create lucrative opportunities in the near future.
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The global fitness equipment market is segmented on the basis of type, user, and geography. Based on type, the market is categorized into cardiovascular training equipment, strength training equipment, and other equipment. The cardiovascular training equipment segment dominated in 2019, contributing to more than half of the market. Moreover, the segment is expected to manifest the fastest CAGR of 3.7% during the forecast period. On the other hand, the strength training equipment segment held nearly two-fifths of the market.
On the basis of user, the market is categorized into home consumer, health club/gym, and other commercial users. The health club/gym segment is anticipated to register the fastest CAGR of 4.1% during the forecast period. In addition, the segment held the largest share in 2019, accounting for more than two-fifths of the market. On the other hand, the home consumer segment held more than one-third of the market.
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The global fitness equipment market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion's share in 2019, accounting for nearly two-fifths of the market. However, the market across the Asia-Pacific region is expected to portray the highest CAGR of 7.6% during the study period.
The global fitness equipment market report includes an in-depth analysis of the major market players such as Brunswick Corporation, ICON Health & Fitness, Inc., Technogym S.p.A., Johnson Health Tech Co. Ltd., Nautilus, Inc., Amer Sports Corporation, TRUE Fitness Technology Inc., Core Health and Fitness LLC, Torque Fitness LLC., and Impulse (Qingdao) Health Tech Co. Ltd.
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Tushar Rajput
Allied Analytics LLP
+91 9021091709
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