DUBLIN, July 13, 2021 /PRNewswire/ — The “Physical Fitness Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com‘s offering.
Global Physical Fitness Equipment Market to Reach $19.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Physical Fitness Equipment estimated at US$13.5 Billion in the year 2020, is projected to reach a revised size of US$19.4 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027.
Cardiovascular Training, one of the segments analyzed in the report, is projected to record a 5.7% CAGR and reach US$11 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Strength Training segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 7.3% CAGR
The Physical Fitness Equipment market in the U.S. is estimated at US$4.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.2 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Other Equipment Types Segment to Record 4.2% CAGR
In the global Other Equipment Types segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$652.7 Million in the year 2020 will reach a projected size of US$852 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2027, while Latin America will expand at a 5.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Impact on Fitness Sector
- Demand for Home Fitness Equipment Soars Amidst COVID-19 Pandemic
- Fitness Routine Changes of People as A Result of COVID-19
- Commercial Fitness Equipment Takes a Hit as Gyms Face Hardships
- Physical Fitness Equipment: A Prelude
- Types of Equipment
- Growth Drivers in a Nutshell
- Key Growth Impeding Factors
- Analysis by Segment
- Developing Countries: Focal Point for Current and Future Market Growth
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 97 Featured)
- Amer Sports Corporation
- Precor Incorporated
- BFT Fitness Co., Ltd.
- Body-Solid, Inc.
- Cybex International, Inc.
- Life Fitness, 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 S.p.A.
- Total Gym Global Corp.
- TRUE Fitness Technology, Inc.
- Tunturi New Fitness B.V.
- YANRE Fitness Equipment Co., Ltd.
3. MARKET TRENDS & DRIVERS
- Covid-19 Pandemic Boosts the Connected Fitness
- Advanced Equipment Offer Futuristic Workouts
- Technology Disrupts Fitness Regimen
- Personalization and Immersive Experience Gain Space as Boutique Fitness Clubs Crop up
- Technology to the Aid of Tread Mills
- Major Trends in the Health, Wellness and Fitness Industry Summarized
- Health and Fitness Clubs: A Major Market for Fitness Equipment
- Considerations while Selecting Commercial Physical Fitness Equipment
- Recovery in Gyms and Health Clubs to Improve Growth
- Bodybuilders Remain the Core Customer Group for Commercial Equipment
- Home Fitness Equipment: An Expanding Market
- Key Trends Facilitating Transition to Home Workouts
- Focus on Preventative Healthcare to Fuel Demand for Home Fitness Equipment
- Rise in Adoption of Elliptical Trainers for Home Use
- Growing Prominence of Exercise Bikes as an Effective Fitness Solution for Cardiovascular Health Drive Demand
- Growing Overweight and Obese Population Benefit Market Prospects
- Rising Participation of Women in Sports and Fitness Due to Increasing Spending Power Boosts Sales
- Surging Interest in Home Gym Exercising among Women
- Big Sporting Events Underpin Sales Growth
- Muscle Strengthening Equipment Gain Popularity among Youth
- Cardio Equipment Outweigh Weights
- Elliptical Trainers: Offering Advantages over Treadmills
- Trends Towards Group Exercise Promotes Market Expansion
- Technology Integration in Fitness Equipment for the Visually Impaired Augurs Well for the Market
- Emerging Technologies, Advanced Software, and Personalized Solutions for Specialized Training Drive Demand from Military Sector
- Favorable Demographic and Other Macro Trends Strengthen Market Prospects
- Rising Need to Maintain Physical Activity among the Aging Population: A Weighty Growth Driver
- Exponential Increase in Urban Population
- Increasing Affluence of the Ballooning Middle Class Population
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- Market Overview
- Established Nature of Physical Fitness Concept to Drive Future Growth
- Fitness Fads in the US
- Growth Promoters for Fitness Industry
- Widening Consumer Base to Fuel Momentum in Home Segment
- Rising Incidence of Chronic Diseases Heighten the Need for Physical Activity and Fitness Equipment
- Hypertension Prevalence in the US
- Prevalence of Diabetes Mellitus in the US
- Surge in CVD Incidence in the US
- Mounting Healthcare Spending Drives Uptake of Self Care Fitness Equipment
- Rise in Adoption of New Technologies, and Equipment
- Connected Devices Proliferate the Market
- Smartphone Connected Devices Gain Traction
- Age Based Participation Levels Favor Fitness Activities
- Aging Population: An Important User Category for the Fitness Equipment Market
- Rising Population of Obese & Overweight People
- Health Club Demographics Remain Lackluster Due to Current Crisis
- Total Companies Profiled: 97
For more information about this report visit https://www.researchandmarkets.com/r/xwwi49
Research and Markets
Laura Wood, Senior Manager
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