International Demand

Fitness Equipment Market Recorded 48.57% Annual Growth Rate in 2021 | Driven by increased demand for home fitness equipment

Home fitness equipment allows people to train without leaving their homes. Consumers learn how to use advanced home fitness equipment through online videos and apps without the need to hire trainers, thereby saving costs. Moreover, busy work schedules and increase in health problems have forced people to exercise daily to stay healthy and prevent health problems. increase demand for fitness equipment will energize the market. Additionally, the COVID-19 pandemic has further contributed to the demand for home fitness equipment. Since the second quarter (Q2) of 2020, home fitness equipment has seen strong growth in demand globally. The rapid rise in the number of people being diagnosed with the disease has led governments in different countries around the world to impose lockdowns, forcing people to stay indoors. In addition, most governments announced the closure of gyms, fitness centers, yoga studios and recreation areas, which also played a major role in triggering sales of home fitness equipment.

However, the the cost of home fitness equipment is high which can hamper the market. High end treadmill products can be more expensive. This hampers the purchase of fitness equipment, especially in developing countries. Consumers find it more economical to join health clubs than to buy home fitness equipment. Also, some people living in developing countries are more skeptical about spending on health clubs and gym memberships. Furthermore, the presence of several local brands offering counterfeit products in the global fitness equipment market leads to market fragmentation, thereby leading to issues such as lack of standardization in pricing, uneven competitive scenario and erosion of market shares. market. To gain a competitive advantage over international brands, these brands offer counterfeit products at lower prices but lacking in quality and durability. However, these products are preferred by low-income consumers because they are affordable. As a result, original brands are unable to achieve optimal market penetration, resulting in a backlog of inventory in their supply chain.

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Company Profiles

The fitness equipment market is fragmented and vendors are deploying various organic and inorganic growth strategies to compete in the market. The Fitness Equipment Market report includes information on product launches, sustainability, and outlook from key vendors including Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life Fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa and Tunturi New Fitness BV.

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Competitive analysis

The competitive scenario provided in the Fitness Equipment market report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors taken into consideration for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc.

Market segmentation

The Technavio report covers in detail the segmentation of the fitness equipment market by product (cardiovascular training equipment, strength training equipment and other equipment), final user (individual users and health clubs and gyms), and geography (North AmericaACPA, EuropeAME and South America).

  • By Product, the market is categorized as cardiovascular training equipment, strength training equipment and other equipment.
    The growth of fitness equipment market share in the cardiovascular training equipment segment will be important for revenue generation. The cardiovascular exercise equipment segment includes treadmills, ellipticals, stationary bikes and ski machines. Cardiovascular training equipment like treadmills and cross-trainers have a lower lifespan than strength training equipment. As a result, the replacement sales of cardiovascular training equipment are higher than those of strength training equipment. This will lead to increased sales of cardiovascular workout equipment over the forecast period. Moreover, growing consumer health awareness is also driving the growth of the segment.
  • By Geography, the market is classified as North AmericaACPA, EuropeAME and South America. North America will have the largest market share. 38% of market growth will come from North America during the forecast period. The United States is a key market for fitness equipment in North America. The growth of the market in this region will be faster than the growth of the market in Europe. The increased prevalence of age-related health issues will facilitate the growth of the North America fitness equipment market over the forecast period.

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Scope of the fitness equipment market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Slowing down to a CAGR of 18.52%

Market Growth 2021-2025

$7.71 billion

Market structure

Fragmented

Annual growth (%)

48.57

Successful market contribution

North America at 38%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Core Health and Fitness LLC, Dyaco International Inc., Icon Health and Fitness Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Inc., Life fitness, Nautilus Inc., Panatta Srl, TECHNOGYM Spa and Tunturi New Fitness B.V.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by product

  • Market segments
  • Comparison by product
  • Cardiovascular Training Equipment – Market size and forecast 2020-2025
  • Strength Training Equipment – Market size and forecast 2020-2025
  • Other Equipment – Market size and forecast 2020-2025
  • Market opportunity by product

Market segmentation by end user

  • Market segments
  • Comparison by end user
  • Individual Users – Market Size and Forecast 2020-2025
  • Health Clubs and Gyms – Market size and forecast 2020-2025
  • Market opportunity by end user

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Core Health and Fitness LLC
  • Dyaco International Inc.
  • Icon Health and Fitness Inc.
  • Impulse (Qingdao) Health Tech Co. Ltd.
  • Johnson Health Tech Inc.
  • life fitness
  • Nautilus inc.
  • Panatta S.r.l.
  • TECHNOGYM Spa
  • Tunturi New Fitness B.V.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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