The United States Fitness Equipment Market is Segmented by Product Outlook (Revenue, USD Million, 2020 - 2027) of Treadmills, Elliptical Machines, Stationary Cycles, Rowing Machines, Dumbbells, Strength Training Equipment and Other Product Types. By Distribution Outlook (Revenue, USD Million, 2020 - 2027) Offline Channels and Online Channels.
United States 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.
The rising number of obese people, increasing health concerns and a bigger youth population are the key drivers of the fitness equipment market. 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. The varied uses of 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 drive the product market for the upcoming years.
Medical concerns negatively impact the mortality rate. Statements from the American Heart Association (AHA) reveal that almost half the deaths in the US are caused by cardiovascular disorders. Thus, the US Presidents Council on Fitness, Sports & 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 and active with regard to 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.
On the flip side, lack of space at home, higher cost of equipment and lack of maintenance skill are major restrictions for the growth attributable to homebound use as well. Another threat is the large-scale resale of second-hand devices. Still, North America currently accounts for more than 45% of the total market share by revenue and is expected to witness a study grow in the upcoming years
The United States Fitness Equipment Market Growth and Trends
The US market for fitness equipment will experience significant growth as a result of rising health awareness among consumers with an increasing adoption of exercises pertaining to physical well-being, improving physical stamina, weight management, and muscular strength—key objectives driving the demand for fitness equipment. The percentage of the obese population being very high in the US has caused increasing health concerns therein to the extent of purchase of fitness equipment to be installed at home as well. Evolving corporate initiatives triggered by increasing interest in fitness will further fuel growth of the market. With increased work pressure in the global corporate sector, where the US plays a leading role, the lack of a proper work–life balance has surged the occurrence of heart-related syndromes, for which cardiovascular equipment type is the highest revenue-generating segment of the US with undeterred growth. The growth of this market is predicted to rise at an increasing rate in the forthcoming years. Within the category of cardiovascular equipment, elliptical equipment proves to be the fastest growing segment. Currently amidst the pandemic situation, the demand for fitness equipment in the US contributes to the increased sales of home user fitness equipment within the country due to social distancing norms, the US being one of the most affected nations hit by the coronavirus. Home users of fitness equipment are predicted to retain 50% of the market share on the basis of revenue. It is expected to dominate the future market with steady CAGR.
The low resale value of fitness equipment in the US makes it vulnerable to market growth being limited, as users would then prefer purchasing second-hand equipment. The Covd-19 impact limits the demand of fitness equipment by fitness centres in order to prevent spread of the virus further by direct contact, thus avoiding community transmission.
The United States Fitness Equipment Market Regional Analysis
The United States plays a significant role in the global fitness equipment market. According to a 2016 report, it accounts for $3.6 billion of profit. Researchers estimate that it will reach $4.4 billion by the year 2024. Also, CAGR rate is going to rise by 2.5% from the year 2017 to 2024. Brunswick Corporation, located in Illinois, United States, has high revenue of 276 million dollars, according to a 2016 report, and is growing exponentially. Fitness EEM LCC in MA, United States, has generated 4.77 million dollars from the world largest fitness equipment companies. ICON Health and Fitness is located in Utah. Its annual sales are more than 1 billion dollars. The cardiovascular equipment profit supports around 60% of shares in the US Fitness Equipment Market. Other companies like Johnson Health Tech Co. Ltd. and Nautilus Inc. are generating revenues in millions of dollars.
The United States Fitness Equipment Market Coverage Highlights
• United States 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
The United States 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
United States 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
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