Fitness Equipment Market Size to grow by USD 7.71 billion| Increased Demand for Home Fitness Equipment to Boost Market Growth | 17,000+ Technavio Research Reports – Yahoo Finance
NEW YORK, Dec. 28, 2021 /PRNewswire/ — The "Fitness Equipment Market by Product (cardiovascular training equipment, strength training equipment, and other equipment), End-user (individual users and health clubs and gyms), and Geography (North America, APAC, Europe, MEA, and South America) – Forecast and Analysis 2021-2025" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the fitness equipment market between 2020 and 2025 is USD 7.71 billion, as per the latest market analysis report from Technavio. The report also identifies the report to witness a decelerating CAGR of 18.52% during the forecast period. Factors influencing the market positively and adversely are also discussed comprehensively in the report.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
Market Driver
Market Challenges
The increased demand for home fitness equipment and technological advancements in fitness equipment are some of the key market drivers. Consumers are learning to use advanced home fitness equipment via online videos and apps without the need to engage trainers, thus saving on costs. Furthermore, hectic work schedules and an increase in health issues have compelled people to undertake some form of exercise daily to remain healthy and prevent health-related issues, thus increasing the demand for fitness equipment.
However, factors such as high cost of fitness equipment and the availability of counterfeit products will challenge market growth. Consumers find joining health clubs more economical than buying home fitness equipment. Also, some people living in developing countries are more skeptical about spending on health clubs and gym memberships. Furthermore, the presence of several local brands offering counterfeit products in the global fitness equipment market is leading to market fragmentation, thus resulting in issues such as the lack of price standardization, an uneven competitive scenario, and market share erosion.
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The fitness equipment market report is segmented by Product (cardiovascular training equipment, strength training equipment, and other equipment), End-user (individual users and health clubs and gyms), and Geography (North America, APAC, Europe, MEA, and South America). The fitness equipment market share growth by the cardiovascular training equipment segment will be significant during the forecast period. The cardiovascular training equipment segment includes treadmills, cross-trainers, stationary bikes, and ski machines. Increasing health awareness among consumers is driving the segment's growth.
North America will be the leading region with 38% of the market's growth during the forecast period. The US is a key market for fitness equipment in North America. Market growth in this region will be faster than the growth of the market in Europe. The increased prevalence of age-related health conditions will facilitate the fitness equipment market growth in North America over the forecast period.
View our sample report for additional insights into the contribution of all the segments and regional opportunities
Some Companies Mentioned
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Fitness Equipment Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Decelerate at a CAGR of 18.52%
Market growth 2021-2025
USD 7.71 billion
Market structure
Fragmented
YoY growth (%)
48.57
Regional analysis
North America, APAC, Europe, MEA, and South America
Performing market contribution
North America at 38%
Key consumer countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa, and Tunturi New Fitness BV
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/
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