Delaware, June 10, 2021 (GLOBE NEWSWIRE) --
According to latest report “Fitness Equipment Market by Equipment (Cardiovascular, Strength Training), End Use (Home, Health Clubs, Office, Hotel), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of fitness equipment will cross $25 billion by 2027. The market growth can be attributed to the increasing consciousness about health & well-being globally.
The demand for stationary exercise bikes is increasing as it is compact in size and easy to install in homes. The bikes promote an aerobic effect, caloric burning, weight loss, and muscle strengthening. With stringent lockdowns imposed in 2020, there was an increase in the demand for exercise bikes that enable a high-performance workout at home. The growing adoption of exercise bikes is credited to the growing awareness about strengthening heart, lungs, and muscles. These bikes will also witness high demand as they help to improve the flow of oxygen and blood throughout the body. Depending on the workout intensity and body weight, the user can burn around 600 calories an hour with a stationary bike workout. Exercise bikes will showcase an increasing demand for users aiming to burn calories.
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The expanding hospitality sector globally will offer growth opportunities to the fitness equipment market as luxury hotels incorporate fitness centers in their infrastructure for health-conscious visitors. As increasing number of guests demand a comprehensive wellness experience, hotels are establishing fitness centers in the premises to attract fitness conscious guests. Fitness equipment manufacturers are identifying the demand from the hospitality sector and offering solutions tailored to specific hotel requirements.
The rise in disposable income in several countries in the Asia Pacific region has increased the purchasing power of consumers, allowing them to buy luxury products. There has been an increased demand for fitness equipment and services across countries such as China, South Korea, and India. Also, people have become more health conscious and are investing in fitness equipment such as stationary bikes and treadmills. The increased demand for the equipment has forced manufacturers to expand their manufacturing bases in the region. Also, APAC has a large number of youth and working population. Their high-stress lifestyles are anticipated to motivate them to include exercise for removing the excess stress or taking it up as a recreational activity. This factor will support the fitness equipment market expansion.
Leading industry players significantly contributing to the fitness equipment market include Johnson Health Tech, Icon Health & Fitness, Hoist Fitness Systems, Amer Sports Corporation, Technogym S.p.A, Torque Fitness, True Fitness, Nautilus Inc., Peloton Interactive, Inc. among others.
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Some major findings of the fitness equipment market report are:
- The growing concerns over health issues arising from sedentary lifestyle globally, has stressed the need to incorporate exercise in daily routine. Hectic work schedules result in professional and personal life imbalance, contributing to the high demand for fitness equipment.
- With advancements in the technological sector, there is a surge in the demand for connected devices globally. Digital connectivity is revolutionizing the fitness industry. Technologies, such as GPS, Bluetooth, and IoT, are facilitating the connection of several devices.
- The rise in the number of people with chronic heart diseases has resulted in the growing awareness about fitness.
- The COVID-19 pandemic has transformed the fitness industry with increased demand for compact fitness equipment that can be installed in homes. There is a rising demand for virtual fitness classes as they are conducted online, and can be undertaken as per user’s convenience, ensuring enhanced flexibility. Exercisers can leverage the training provided by fitness professionals from the comfort of their homes.
- The developing economic conditions in Latin America and the Middle East & Africa has resulted in the rise in the number of health clubs and fitness centers. This factor will support the fitness equipment market progression.
Table of Contents (ToC) of the report:
Chapter 3 Fitness Equipment Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.3 Manufacturers
3.3.4 Technology providers
3.3.5 Service providers
3.3.6 System integrators
3.3.7 End-users
3.3.8 Distribution channel analysis
3.3.9 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Wearable and smart technology
3.4.2 Digital connectivity
3.4.3 Bluetooth 4.0
3.4.4 AR/VR
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls and challenges
3.7 Growth potential analysis
3.8 Price trend analysis, 2017 – 2027
3.9 Porter’s analysis
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.