Ocean View, Delaware, March 29, 2017 (GLOBE NEWSWIRE) --
The industry statistics report “Fitness Equipment Market Size By Application (Gym/Health Clubs, Home/Individuals, Hospitals, Offices, Hotels), By Product (Strength Training Equipment, Cardiovascular Training Equipment, Activity Monitors, Body Analyzers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023” by Global Market Insights, Inc. says Fitness Equipment Market will cross USD 13.5 billion by 2023.
Rising awareness regarding fitness & health owing to changing lifestyle & food consumption habits are the major factors driving industry demand. The rise in health consciousness and escalation in global obese population will be responsible for growing fitness equipment market size. Unhealthy diet and inactive lifestyles cause obesity, and lead to several cardiovascular diseases. This trend is observed highly in urban areas over rural areas and will witness constant growth in semi-urban areas of developing economies.
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Governments and enterprises in developed countries have established several healthcare initiatives to promote the benefits of physical strength and stamina, thus creating awareness in the society against obesity. Developing countries also indicate significant growth trend of healthcare offerings across all sectors. Furthermore, it is predicted that enterprises may force employees to invest significant portion of their income to procure equipment, thus driving fitness equipment market share over the forecast timeline.
Introduction of new technologies have indirectly affected the human health in the last few years which in turn generate the need for physical activities, balancing body weight and cardiovascular fitness.
Corporates are collaborating with various centers to provide healthcare facilities to the employees for relieving stress. Moreover, improved lifestyles with economic growth has further increased the demand for fitness equipment market share owing to rapid modernization of economies and rising disposable income of consumers.
High initial and maintenance costs will challenge the fitness equipment market share from 2016 to 2023. The age demographics of growing economies such as India and China are responsible for presenting potential opportunities for the fitness equipment market over the forecast timeframe.
Health clubs/gyms occupied more than 50% of the fitness equipment market in 2015 and are likely to lead the industry from 2016 to 2023. Racks, benches, and treadmills are the machines used in this segment.
Offices, hospitals and hotels collectively accounted for over 18% of the revenue and will exhibit steady growth from 2016 to 2023. Considerable demand for resale products for upgrading facilities in these sectors is likely to hamper industry demand.
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Strength training equipment market will account for more than 35% of the overall business revenue by 2023. Growing trend of improving strength, enhancing muscle size and anaerobic endurability by using resistance bands, free weights and machines will support the segment demand.
Cardiovascular machines are mostly preferred for weight loss by trainers and consumers. Health benefits such as heart rate conditioning, metabolism improvement, better body toning and fat burning will fuel segment growth.
U.S. fitness equipment market is characterized by high penetration of cardiovascular machinery owing to increased health consciousness and high obesity rates. Moreover, adoption of advanced features in cardiovascular machines is higher in the U.S. as compared to other countries.
Europe fitness equipment market size will witness high adoption owing to increasing heath awareness among the obese population. UK, France and Germany are among the major countries that will contribute the overall regional growth.
The industry is highly competitive with presence of several multinational and local manufacturers across regions. Some of the companies operating in this industry are Cybex International, Star Trac, Paramount, ICON, Life, Nautilus, Precor, Technogym, Torque and Yowza.
Browse key industry insights spread across 34 pages with 30 market data tables & 26 figures & charts from the report Fitness Equipment Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/fitness-equipment-market-report
Fitness equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2023, for the following segments:
Fitness Equipment market by application
- Gym/Health Clubs
- Home/Individuals
- Hospitals
- Offices
- Hotels
Fitness Equipment market by Product
- Strength Training Equipment
- Cardiovascular Training Equipment
- Activity Monitors
- Body Analyzers
The above information is provided on a regional basis for the following:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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About Global Market Insights
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.
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