Zion Market Research has published a new report titled “Fitness Equipment Market by Equipment Type (Cardio-Respiratory Equipment, Muscular Equipment, Flexibility Equipment, Body Fatness Equipment and Others) for Hospital, Gym Centers/Health Clubs, Homecare and Others – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021’’. 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.
Physical fitness activity is any bodily movement that is produced by the contraction of skeletal muscles and that substantially increases energy expenditure. Exercise is planned, structured, and repetitive bodily movement done to improve or maintain one or more components of physical fitness, such as endurance, flexibility, or strength. Physical fitness is the ability to perform regular moderate to vigorous levels of physical activity without excessive fatigue. Benefits of regular physical fitness activities are like improved cardio-respiratory fitness, reduced cancer risk, improved bone mass, improved weight control, prevention of diabetes, improved immunity, improved mental health and stress management and longer life span. There are many benefits of cardio-respiratory fitness. It can reduce the risk of heart disease, lung cancer, type 2 diabetes, stroke, and other diseases. Cardio-respiratory fitness helps improve lung and heart condition and increases feelings of wellbeing.
Rising geriatric population is accelerating the growth of fitness equipment market. Currently, more than 900 million people are aged 60 or above and it is projected to rise to around 1.40 billion by 2030. Among this population, approximately 65% of older people currently live in developing countries. Moreover, rising obese population is also continuously responsible for the growth of fitness equipment market. In 2014, more than 1.90 billion people were overweight and out of these around 600 million were obese. In addition, increasing health consciousness among children’s and adult people is major driving factor for the growth of fitness equipment market. However, a high cost of equipment may hamper the growth of fitness equipment market. Nonetheless, untapped market and increasing health awareness programs may generate new opportunities in the forecast period.
Based on the equipment type, the market of fitness equipment has been classified into cardio-respiratory equipment, muscular equipment, flexibility equipment, body fatness equipment and others. Cardio-respiratory equipment segment dominated the market with increasing prevalence of cardio-respiratory diseases. Regular fitness activities make cardio-respiratory systems more efficient by enlarging the heart muscle, enabling more blood to be pumped with each stroke, and increasing the number of small arteries in trained skeletal muscles, which supply more blood to working muscles. Muscular equipment and flexibility equipment segment is expected to generate new opportunities in forecast period with increasing health awareness.
Based on the end user, the market of fitness equipment has been classified into hospital, gym centers/health club, homecare, and others. Gym centers/Health club segment dominated the fitness equipment market due to increased demand for fitness equipment as a result of a large number of gym centers. With rising geriatric population, the demand for homecare fitness equipment is increasing, thus in forecast period homecare fitness equipment is projected to grow at lucrative growth rate.
Based on the geography, the fitness equipment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. There were around 183,000 health clubs worldwide in 2014. The majority of the gym centers/health clubs are located in Latin America with almost 56 thousand gym centers/health clubs. Thus, Latin America dominated the fitness equipment market due to high demand for fitness equipment as a result of increased gym centers/health clubs. In Asia-Pacific there are around 17 million members are registered at more than 31,000 health clubs. The Asia Pacific is expected to show noticeable growth during the forecast period due to increasing awareness towards health care.
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Key operating players in 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.