India Fitness Equipment Market 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.
Growth and Trends
Rapid urbanization and increasing health awareness amongst the people are expected to drive the market for fitness equipment in India. The rising number of obese people, increasing health concerns and a bigger youth population are the key drivers of the fitness equipment market. The varied uses of fitness equipment allowing users to perform exercises related to physical wellbeing, weight management, stamina, and core strength. The Central Government of India brought forth a notice notifying its offices to have gym facilities. Furthermore, the Department of Personnel and Training is aiding the gym promotion agenda by providing monetary subsidies for building training facilities. Additionally, growing consumer inclination towards fitness due to rise lifestyle diseases is furthering the Indian market growth.
In addition, inсrеаѕіng numbеr оf fіtnеѕѕ сlubs аnd gуms іn dеvеlоріng соuntrіеѕ such as India are expanding their equipment base, which serves as аnоthеr kеу fасtоr accelerating the rise in the product mаrkеt. Неаlth clubs and gуmѕ currently ассоunt fоr а mајоrіtу ѕhаrе іn thе product mаrkеt. Тhus, the sроrtѕ market holds thе mајоrіtу chunk of demand аnd іѕ ехресtеd tо witness thе most grоwth оvеr the upcoming years. The medical sector also poses a great deal of product demand. Increasing incidence of numerous chronic diseases, cardiovascular disorders especially among middle-aged individuals, greater awareness about health risks added to the need for physical agility to stay fit are among major drivers expected to trigger the product market growth.
With an increased population of Indians becoming highly health conscious, and the elite section in the country having become increasingly fitness savvy thereby installing expensive gyms at home, the demand for fitness equipment is on the rise in the Indian market. A growing number of gyms and health clubs blended with government efforts in promoting physical fitness are further boosting the growth of the fitness equipment market in India. In addition, the Department of Personnel and Training has been encouraging setting up of gyms in offices by providing monetary compensation to organizations to make employee fitness a part of their agenda. The increasing consumer preferences towards physical fitness resulting from aggravated lifestyle diseases is further fuelling the market growth. Market sub-segments, such as treadmills, elliptical cross trainers, and stationary bikes are among most preferred fitness training equipment. Additional functionality to increase stamina, gaining weight, losing weight, and also personality grooming through are effective in boosting demand for these equipment. The fitness equipment in the Indian market has been primarily concentrated in the top 8 cities of India out of which statistically Delhi NCR shows maximum demand The fitness equipment market in India still has low penetration and has enormous scope for growth in the future. The growth in the India Fitness Services and Equipment Market has been largely impelled by the augmenting demand for fitness services on account of rising lifestyle diseases and obesity. Increasing demand for fitness services and equipment, as stimulated by factors such as high population growth and increasing youth population in India, is expected to further accentuate the country’s overall fitness and equipment market in the forthcoming years.
Retailers face challenges, like low reliability of Indian equipment, lack of space in residential complexes for installing health equipment, low-quality machines in the market, and dearth of trainers.
With the onset of COVID-19, lack of space at home, higher cost of equipment and lack of maintenance skill are major restrictions for the growth attributable to homebound use of fitness equipment. Another threat is the large-scale resale of second-hand devices. Nevertheless, a rising youth population coupled with more disposable income in hands is expected to nullify the above threats in a developing economy like India.
India Fitness Equipment Market Coverage Highlights
• Home 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
India Fitness Equipment Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Elliptical Machines
• Stationary Cycles
• Rowing Machines
• Strength Training Equipment
• Other Product Types
Distribution Outlook (Revenue, USD Million, 2020 - 2027)
• Offline Channels
• Online Channels
India Fitness Equipment Market Companies
• Nautilus Inc.
• Johnson Health Tech Co.
• Technogym SpA.
• Precor, Inc.
• BRUNSWICK CORPORATION
• Amer Sports
• Core Health & Fitness LLC
• Fitness EM
• HOIST Fitness Systems
• Icon Health and Fitness
• Torque Fitness
• True Fitness
• Cybex International
• Fitness World
• TRUE Fitness
• Vectra Fitness
Available Versions of the Report:
Please fill in the form below to Request for free Sample Report
Office Hours Mon - Sat 10:00 - 16:00
Send Us Mail email@example.com
© 2018 Market Decipher. All Rights Reserved