Due to the growing interest of people in exercise and healthy routines at home, the global fitness equipment market is projected to accelerate growth during the forecast period. By device type, the cardiovascular exercise machine subsegment is estimated to be the most profitable by 2028. Regionally, lucrative growth is expected for the North American market in the forecast timeframe.
New York, USA, November 11, 2021 (GLOBE NEWSWIRE) – According to Research Dive, the Global Fitness Equipment Market is based on sales of. estimated $ 15,762.41 million by 2028, and grow CAGR of 4.5% in the forecast period (2021 to 2028). The comprehensive report offers a brief summary of the current market scenario along with key aspects of the market such as growth factors, lucrative growth opportunities, and limiting factors. Additionally, the report also includes all of the Fitness Equipment market trends, the impact of COVID-19 on the market, and market estimates which make it easier, helpful and useful for new entrants to understand the market.
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Market dynamics
According to our analysts, people’s increased interest in exercise and healthy routines at home combined with increasing investments in fitness equipment such as ellipticals, spin cycles, ellipticals, treadmills, kettlebells, dumbbells and stretch bands are the most important valued drivers behind the growth of the global market for fitness equipment to promote in the forecast period. In addition, the increasing demand for exercise equipment for home use due to virtual fitness classes being conducted by many fitness trainers, gyms, gyms, and fitness boutiques is another factor that is expected to drive market growth through 2028.
Additionally, the growing trend towards connected gyms and the increasing number of sports enthusiasts, fitness boutiques, gyms and health clubs investing in renovation and expansion are projected to have huge growth opportunities for the fitness equipment market during the forecast period. However, the rising cost of raw materials like steel, iron and others has fueled the price of fitness equipment around the world, which is expected to constrain market growth in the forecast timeframe.
The story goes on
Effects of COVID-19 on the Fitness Equipment Market
The COVID-19 pandemic has had a positive impact on the growth of the global fitness equipment market. The ongoing impact on the market share and size of fitness equipment is mainly due to the increasing importance of routine exercise and a healthy lifestyle due to the spread of the coronavirus around the world. In addition, purchase and demand for fitness equipment have increased during the pandemic, which is fueling market growth. People have started opting for yoga, exercise, and cardio training to boost their immunity, which has led to an increasing demand for home fitness equipment.
Connect with an analyst to find out how COVID-19 is affecting the fitness equipment market
Cardiovascular exercise equipment sub-segment most profitable
By device type, the cardiovascular exercise machine subsegment had the majority of the market share in 2020 and is expected to generate sales of $ 8,749.72 million by 2028. This is mainly due to the increased use of cardiovascular equipment such as blast bikes, treadmills, and elliptical machines by fitness boutiques and home users to improve heart health. In addition, the growing demand for cardiovascular equipment among sports enthusiasts is expected to fuel the subsegment’s growth through 2028.
Health club / gym sub-segment with the fastest growth
According to end users, the fitness clubs / gyms subsegment achieved sales of $ 5,599.75 million in 2020 and is expected to account for the majority of the market share in the forecast period. This is mainly due to the increasing number of gyms, health clubs and fitness boutiques around the world.
North America region will dominate the global industry
By region, the fitness equipment market in North America is projected to have sales of $ 5,422.32 million by 2028 and subdue in the global industry during the forecast period. The region’s rapid growth is due to higher disposable incomes and the presence of leading companies in the region. In addition, the strong presence of leading fitness boutiques and gym chains that offer virtual training is driving regional market growth.
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Prominent players in the global fitness equipment market are –
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Life fitness
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True fitness
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Peloton
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iFIT.com
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Johnson Health Tech
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Core Health & Fitness, LLC
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Rogue Fitness
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Cosco sports equipment
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JERAI Fitness Pvt. GmbH
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ShuHua Sports Co., Ltd.
These actors employ various strategies to gain a competitive advantage and a strong position in global industry. Inquire and get quick access to the executive summary report on key business development strategies
In October 2019, Nautilus Inc., the 40 year leader in home fitness, announced the launch of the first ever indoor cycling, Bowflex C6, the leading connected fitness user experience. Bowflex users can digitally connect to popular apps that allow them to ride through streaming on-demand courses with their favorite coaches.
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