Commercial Fitness Equipment Market size shall reach a value of $15,143.3 Million in 2027, growing with a CAGR of 3.5% during the forecast period of 2020 to 2027.
Commercial Fitness Equipment is an apparatus used for physical activities, body exercise and for maintaining body fitness to enhance the overall health and wellbeing of physic at gymnasium. Commercial Fitness Equipment comprises of Treadmills, Rowing Machines, Stationary Machines, Strength Training Equipment, Elliptical Machines, Dumbbells, and others. The Commercial Fitness Equipment Market has been seen to be developed by the time and many improvements and convenient measures lead to its spread at global level and hence its popularity increased. Looking at the present scenario of the COVID-19 pandemic, where it can be seen a major decline in market due to the continuous lockdown, the need for such products rose unexpectedly. The Commercial Fitness Equipment are widely used in order to maintain health and fitness to resist and save from the attack of the corona virus. Thus, this market of Commercial Fitness Equipment has a rapid flourishing market in forthcoming days and in present time. After this pandemic and the present situation of the world, this market will surely rise due to the tremendous demand and adoption of health and fitness.
Drivers, Restraint and Opportunity
Looking at the present scenario of pandemic due to the COVID-19 outbreak, where everyone is concerned about their life and its wellbeing. People all over the world now are aware of significance of maintaining good health. Hence, the Commercial Fitness Equipment Market has increased drastically. The Commercial Fitness Equipment has unexpectedly elevated globally. The probable estimated growth of Home Fitness Equipment Market is US$ xx Billion by 2027 and the market expand is likely to grow at a CAGR of xx% from 2019 to 2029. This mentioned value for Commercial Fitness Equipment share is predicted to get a huge increment globally due to the pandemic.
The primary restraint factor could be the high cost of products and some equipment needs additional space to be installed. Moreover, lack of awareness in areas of developing countries and additional maintenance cost could also be a significant restraint factor.
Development of low-cost products and spread of fundamental fitness and health related knowledge and awareness could bolster the market during the forecast period. In addition, reduction in maintenance cost could also build a better opportunity for Commercial Fitness Equipment Market.
North America has spare headed the global market and accounted the largest market share as a result of escalated growth of health awareness at global level. Also, Europe is seen to gain a notable share of this market and is expected to get a stable growth due to increase in awareness among large population about health and fitness and government healthcare initiatives and increasing geriatric population in Europe. Meanwhile, Asia Pacific is expected to attain fastest growth over the forthcoming period, due to its expected witnessing of educational advancement, increase in chronic diseases, increasing awareness about healthy lifestyle, increasing corporate wellness programs and cross industry demand and popularity of such equipment.
The report comprises the specific segments by product type, under which it includes Treadmills, Elliptical Machines, Dumbbells, Stationary Cycles, Rowing Machines, Strength Training Equipment and Other Product Types. Further it is bifurcated under distribution outlook which includes Offline Channels and Online Channels. Under the segment of device outlook it is split into Cardiovascular, Strength training and others.This segment also includes market size, forecast and trends for the major markets in North America, Europe, Asia-Pacific, South America, Middle East & Africa under the regional outlook segment. Online service distribution channel facilitates manufacturers the opportunity to reach wide range of customers without investing on costly sales and distribution infrastructure model and is more convenient.
Growth and Trends
With people’s changing lifestyles and their increasing consciousness about remaining healthy and physically fit, the commercial fitness equipment market is exhibiting rapid growth. Gyms and fitness clubs in the urban sector have gained high popularity with increasing disposable income among people which is a major driving factor for the demand for commercial fitness equipment. Increasing prevalence of obesity and stress-related issues is also bolstering the market growth of global commercial fitness equipment. The emerging trend of maintaining oneself physically and groom one’s personality, especially among the younger generation, is propelling membership in gyms and fitness clubs which is further scaling up the demand for cardiovascular machines such as treadmills and other equipment, thus positively impacting the global commercial fitness equipment market in the coming years. The growing initiative programmes for creating health awareness among people is leading to improving their health by bringing down unhealthy diet patterns and physical inactivity among the population. In the modern-day work setup, sedentary lifestyle is a major cause for triggering cardiovascular and orthopaedic problems across age groups, and therefore people having become more aware of the side effects of working for long hours and developing degenerative ailments are resorting to different forms of physical exercise, where the demand for commercial fitness equipment is very high. This further boosts the market growth for commercial fitness equipment both at home as well as fitness centres. Moreover, the fitness equipment can be used with the help of professional trainers as well as on one’s own, which makes them user-friendly and some are often lightweight and portable equipment.
The high cost of commercial fitness equipment is very high which could therefore lead to slowing down of market growth. However, the worldwide demand for such high-utility equipment outweighs this possible market growth restraining factor, thus ensuring a thriving market.
Home Fitness Equipment Market Competition
Key companies operating in this industry are Nautilus Inc., Johnson Health Tech Co., Technogym SpA., NordicTrak, Precor, Inc., BRUNSWICK CORPORATION, Amer Sports, Core Health & Fitness LLC, Fitness EM, LLC, HOIST Fitness Systems, Icon Health, Cybex International, Precor, Fitnessathome, Fitness World, ProForm, TRUE Fitness, Vectra Fitness, Woodway. and Fitness, Torque Fitness and True Fitness.
The Commercial Fitness Equipment Market is seen to be highly competitive and fragmented which is being marked by various players. Potential players are widely applying several aggressive strategies to spread its root over the market world globally.
• Commercial Fitness Equipment Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Fitness Equipment Market Segmentation
By Sales Channel
Europe Fitness Equipment Market Companies
• Johnson Health Tech Co.
• Technogym SpA.
• Precor, Inc.
• BRUNSWICK CORPORATION
• Amer Sports
• Core Health & Fitness LLC
• Fitness EM LLC
• HOIST Fitness Systems
• Icon Health and Fitness
• Torque Fitness
• True Fitness
• Cybex International
• Fitness World
• TRUE Fitness
• Vectra Fitness
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