United States Cardio Fitness Equipment Market shall reach a value of $4723.5 Million in 2027, growing with a CAGR of 2.5% during the forecast period of 2020 to 2027.
Cardiovascular training, strength training coupled with indicators such as body monitors and analyzers has led to the widespread use of cardio fitness equipment. The varied uses of cardio fitness equipment allowing users to perform exercises related to physical wellbeing, weight management, stamina, and core strength. Rapid urbanization and increasing health awareness amongst the people are expected to push the market in developed nations. Cardio exercises based on the product market are beneficial for the heart and lungs. The rampant rise in cases of cardiovascular ailments amongst the young generation, especially due to obesity pushes for the growth of the market.
Growth and Trends
Long-term manifestations of lifestyle disorders, such as diseases related to cardiovascular illnesses, cholesterol, and respiratory issues, are leading causes of concern among the younger and middle-aged population in the US, along with childhood obesity also leading to heart diseases. For the prevention of these diseases, there is an increased focus on fitness and wellness, propelling the demand for cardio fitness equipment in residential and commercial applications. Evolving lifestyle along with increasing work pressure are added factors leading to conditions of obesity among the population in the US, thus contributing to the increased sales of cardio fitness equipment within the US. Home users are most likely to retain a high percentage of the market share for their purchase of cardio fitness equipment instead of going to fitness clubs during time of the pandemic. Heath clubs are anticipated to be the second-largest user segment and also show steep growth. Within the cardiovascular category of fitness equipment, treadmills are expected to be generating maximum revenue being one of the most popular and effective cardiovascular fitness equipment. Numerous advantages including ease of operation, fat loss, and improved joint flexibility, cardio fitness equipment are predicted to dominate the future market in the US with steady CAGR. Elliptical is another equipment category expected to show high growth in demand. Increase in the number of fitness clubs is further supporting the market growth of these equipment, where fitness clubs offer a variety of equipment pertaining to specific individual market demand.
This market will witness a short-term dip due to the impact of the Covid-19 pandemic, since with an increase in the number of people affected by the virus, there is a decline in the habit of a large section of the population visiting fitness centres and gyms for maintaining social distancing to control further spread of the virus.
Obesity entails long-term repercussions such as cardiovascular illnesses, gallbladder diseases, cholesterol, diabetes, heart-related, breathing issues and even sometimes cancer. Studies in 2017 by the Center for Disease Control (CDC) about 70million people in the US were obese. Another impending concern is the prevalence of obesity in the younger population in the U.S. along with childhood obesity. Thus, the medical sector holds 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 market growth. Statements from the American Heart Association (AHA) reveal that almost half the deaths in the US are caused by cardiovascular disorders. Thus, the US council on Fitness, Sports and Nutrition has come up with several programs and initiatives that promote all its citizen to help lead a healthier life. Additionally, regulations have also been imposed to make people the United States to be more aware of overall fitness.
Advanced gyms and health club in a developed economy like the US, drive the product market even further. These ventures account for the major portion of the market for fitness equipment. Though such share is expected to fall with the onset of COIVD-19. Coronavirus has made consumers homebound and social distancing protocols discourage going to gyms for a long time. Hence, a shift may be seen from commercial to non-commercial market share, with continued overall growth.
US Cardio Fitness Equipment Market Segmentation
By Sales Channel
US Cardio Fitness Equipment Market Companies
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